The Women Entrepreneur Finance Initiative Debuted

The Women Entrepreneur Finance Initiative Debuted

The Women Entrepreneur Finance Initiative Debuted

The Women Entrepreneur Finance Initiative, an effort 1st Daughter Ivanka Trump spearheaded in part to empower womens’ business endeavors in developing countries became operable last week.

“The progress that the Women Entrepreneurs Finance Initiative (WeFi) has made over the past few months is encouraging and exciting,” the 1st Daughter said in her statement. “I look forward to continuing my work with the World Bank Group via this facility to support women entrepreneurs around the globe and remove existing barriers to their growth and success.”

WeFi was announced during the G-20 Summit in July, and is working to leverage more than a $1-B to help finance small-and medium-sized business enterprises.

 Collectively, 14 countries have contributed $340-M for the fund, with $50-M coming from the United States. The contributions will allow at least $800-M more from international development bank and commercial financing.

Grown said Ivanka Trump’s advocacy, as well as that from high-level persons such as German Chancellor Angela Merkel and IMF Managing Director Christine LaGarde has proven Key for the fund.

The White House and World Bank said that the fund’s concept grew following a conversation between Ivanka Trump and World Bank President Jim Yong Kim. She has no role in running the fund but will continue to play an advocacy role.

The fund has no relationship with the Clinton Foundation.

Have a terrific weekend.

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