World Bank launches loan programme championed by Ivanka Trump for women entrepreneurs

The World Bank on Saturday launched a public-private loan program to support women entrepreneurs in developing countries, an initiative championed by US President Donald Trump's daughter Ivanka Trump.

>>Reuters
Published : 8 July 2017, 09:38 PM
Updated : 8 July 2017, 09:38 PM

Initial funding of $325 million for the project includes large donations from Germany, the United States, Saudi Arabia and the United Arab Emirates, the bank said.

"This is going to be what we hope will be a multibillion dollar fund to support women entrepreneurs," World Bank President Jim Yong Kim said.

The program will work with governments "to improve laws and regulations that are stifling women entrepreneurs," pushing financial institutions to provide equity to the companies they create, the bank said.