The following is an excerpt from Kate Abbey-Lambertz | May 21, 2017 | Huffingtonpost.com |
Saudi Arabia and the United Arab Emirates are donating $100 million to a women’s empowerment fund proposed by Ivanka Trump, President Donald Trump’s elder daughter and a senior White House adviser.
World Bank President Jim Yong Kim announced the contribution to the World Bank Women Entrepreneurs Fund at a meeting in Riyadh between Ivanka Trump and 15 Saudi women Sunday, during the president’s trip to Saudi Arabia.
Ivanka Trump helped inspire the fund, which will be led by the World Bank. Early reports had suggested she would take a more active fundraising role, but it was later reported that she would not be directly involved in raising funds or deciding how the money would be spent.
“This is really a stunning achievement,” Kim said Sunday, according to USA Today. “I’ve never seen anything come together so quickly, and I really have to say that Ivanka’s leadership has been tremendous.”
The donation is aimed at efforts for women in the Middle East, The Wall Street Journal reports, and the fund will support women who start businesses.
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