RIYADH // Saudi Arabia and the UAE have pledged $100 million (Dh367m) 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 Kim Jim-yong announced the donation from the 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.
Dr Kim said the donation along with other pledges from the US and other countries will allow the World Bank to announce the creation of a $1-billion fund for women empowerment during the G20 summit in July.
“This is really a stunning achievement. I’ve never seen anything come together so quickly,” he said, according to the source.
* Agence France-Presse
