Tags: Donald Trump | Middle East | Trump Administration | uae | ivanka trump | trump | saudi arabia

UAE, Saudi Arabia Pledge $100 Million to Fund Pitched by Ivanka

UAE, Saudi Arabia Pledge $100 Million to Fund Pitched by Ivanka
Ivanka Trump delivers remarks to the Tweeps 2017 event, Sunday, May 21, 2017, in Riyadh. (AP Photo/Evan Vucci)

By    |   Sunday, 21 May 2017 09:50 PM

A fund for women entrepreneurs proposed by Ivanka Trump will reportedly receive $100 million from Saudi Arabia and United Arab Emirates, the Wall Street Journal reports.

The World Bank announced the pledge Sunday during an event led by the president's daughter in Saudi Arabia.

"As a female leader within the Trump administration, my focus is to help empower women in the United States and around the globe," Trump said of the Women Entrepreneurs Fund, which she pitched to World Bank Group President Jim Yong Kim and has discussed with several world leaders.

The aim of the fund is to give women in the Middle East who want to start their own businesses access to finance, markets and networks. The World Bank hopes to raise $1 billion for women's economic empowerment through the Women's Entrepreneurship Facility before July’s G-20 Summit.

"I think this fund … is going to make a huge difference," said World Bank President Jim Yong Kim said.

The fund's money will be controlled by the World Bank, an international financial institution that provides loans to countries of the world for capital programs.

Yousef Al Otaiba, the UAE's ambassador to the U.S., said the financial pledge from his country reflects "our commitment to empowering women in our region and builds on the progress we have made in our country, where women play a role in every segment of society."

Ivanka said on Sunday that ultra-conservative Saudi Arabia has made "encouraging" progress in empowering women but more freedom was needed.

"Saudi Arabia's progress, especially in recent years, is very encouraging," Trump's eldest daughter told a group of Saudi women she met in Riyadh while accompanying her father on a visit to the Muslim kingdom.

"But, there's still a lot of work to be done and freedoms and opportunities to continue to fight for," added Ivanka, who serves as an advisor to her father.

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Information from the Associated Press was used in this report. 

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A fund for women entrepreneurs proposed by Ivanka Trump will reportedly receive $100 million from Saudi Arabia and United Arab Emirates, the Wall Street Journal reports.
uae, ivanka trump, trump, saudi arabia, world bank, 100 million, pledge
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2017-50-21
Sunday, 21 May 2017 09:50 PM
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