Ivanka Trump Reportedly to Launch a Global Female Entrepreneurs Fund. How … Would That Work?
The following is an excerpt from Josh Voorhees | April 26, 2017 | Slate.com |
A crowd in Berlin booed Ivanka Trump Tuesday during a high-profile international summit on women’s entrepreneurship. But as cathartic as that was for her critics, the bigger story may have been what she told Axios’ Mike Allen on the sidelines that day. I say may because it’s difficult to make heads or tails of this short item Allen published Wednesday morning:
Ivanka Trump told me yesterday from Berlin that she has begun building a massive fund that will benefit female entrepreneurs around the globe. Both countries and companies will contribute to create a pool of capital to economically empower women. “The statistics and results prove that when you invest in women and girls, it benefits both developed and developing economies,” she said. “Women are an enormous untapped resource, critical to the growth of all countries.”
The report, along with a slightly more detailed follow-up from one of Allen’s colleagues, provides only the broadest of brush strokes: unnamed “government-linked investors in Canada, Germany and the Middle East” have already committed to contributing; the focus will be on “small and medium-sized companies;” and the fund will be managed by the World Bank. Or, at least, that’s according to Dina Powell, the former Goldman Sachs exec turned Ivanka adviser turned deputy national security adviser. The World Bank says details still need to be worked out. Ivanka Trump and World Bank President Jim Yong Kim, however, did co-publish a Financial Times op-ed earlier this week advocating for more investment in women, so it does sound like the two are on the same general page on this topic. (Fun fact: Trump’s FT byline described her as “the first daughter of the US” and made no mention of her official, albeit poorly defined, role in her father’s administration.)
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