RIYADH, Saudi Arabia—The World Bank announced Sunday at an event with Ivanka Trump, the U.S. president’s daughter and senior White House adviser, that Saudi Arabia and United Arab Emirates have pledged a combined $100 million to a fund that will assist women entrepreneurs and small business owners.
“As a female leader within the Trump administration, my focus is to help empower women in the United States and around the globe,” Ms. Trump said.
The Women Entrepreneurs Fund is currently being formed and will be aimed at helping women in the Middle East by easing their access to finance, markets and networks.
The pledge will help allow the World Bank to announce at July’s G-20 Summit that they will have created a $1 billion fund for women’s economic empowerment through the Women’s Entrepreneurship Facility, which World Bank President Jim Yong Kim said was a first.