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Saudi, UAE pledge $100 mln to Ivanka Trump womens' fund

AFP , Monday 22 May 2017
US President Donald Trump's daughter Ivanka Trump speaks at The MISK Event on the second day of his visit to Saudi Arabia, in Riyadh, Saudi Arabia May 21, 2017. (Photo: Reuters)
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Saudi Arabia and the United Arab Emirates have pledged $100 million to a women's business fund supported by Ivanka Trump, daughter of the president who Monday wound up a visit to Riyadh.

World Bank president Jim Yong Kim announced the donation from both oil-rich Gulf states on Sunday, during a meeting between Ivanka Trump and a group of Saudi women, a member of the US delegation said.

The idea of a fund providing microfinance to women in underdeveloped countries was floated by President Donald Trump's daughter and German Chancellor Angela Merkel during a conference in Berlin last month.

Kim said the donation along with other pledges from the United States and other countries will allow the World Bank to announce the creation of a $1-billion fund for women empowerment during the G-20 summit in July.

"This is really a stunning achievement. I've never seen anything come together so quickly," he commented, according to the source.

The US president flew to Israel on Monday after a two-day stay in Saudi Arabia, which he chose for his first foreign trip since taking office in January.

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