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Ivanka Trump, World Bank discuss women entrepreneur fund

30 April 2017 No Comment

Ivanka Trump has been involved in discussions with the World Bank about establishing a funding operation that would support female entrepreneurs, bank and administration officials said Wednesday.

The officials stressed that nothing has been set up yet and that talks are ongoing about how this would be set up. They said it could be structured as a World Bank-run “facility,” which accepts contributions from governments and private donors and then provides funding and support to women in developing countries.

According to a senior administration official, Trump recently pitched the idea to World Bank Group President Jim Yong Kim, who then discussed it with other leaders, including German Chancellor Angela Merkel. Merkel touted the effort at a Berlin event this week attended by Ivanka Trump.

Kim said in a statement that they are “working with partners on the details around creating a facility for women’s economic empowerment.” He praised “the leadership Ms. Trump and Chancellor Merkel have demonstrated on this important issue.”

The administration official, who sought anonymity because the project is in its early stages, said Trump would have no official authority over the fund and would not solicit contributions, but would be a “strong advocate.”

Still, any involvement in the fund could prompt questions about potential conflicts of interest for the first daughter, who has stepped away from executive roles with her fashion brand and the Trump Organization to take an unpaid role in her father’s administration, though she still owns her business.

During the panel in Germany, Ivanka Trump applauded the talk of a special fund, adding that more needs to be done to help in the U.S. “We are not where we need to be,” she said.

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