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Thursday, 12 December 2019

World Bank launches loan programme for women entrepreneurs initiated by Trump's daughter

Reuters , Saturday 8 Jul 2017
Ivanka Trump and International Monetary Fund (IMF) Managing Director Christine Lagarde attend the Women’s Entrepreneurship Finance event during the G20 leaders summit in Hamburg, Germany July 8, 2017. (Photo: Reuters)
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The World Bank on Saturday launched a public-private loan programme to support women entrepreneurs in developing countries, an initiative championed by U.S. President Donald Trump's daughter Ivanka Trump.

Initial funding of $325 million for the project includes large donations from Germany, the United States, Saudi Arabia and the United Arab Emirates, the bank said.

"This is going to be what we hope will be a multibillion dollar fund to support women entrepreneurs," World Bank President Jim Yong Kim said.

The programme will work with governments "to improve laws and regulations that are stifling women entrepreneurs," pushing financial institutions to provide equity to the companies they create, the bank said.

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