World Middle East 22 May 2017 Saudi, UAE pledge US ...

Saudi, UAE pledge USD 100 millions to Ivanka Trump womens' fund

AFP | DECCAN CHRONICLE
Published May 22, 2017, 9:27 pm IST
Updated May 22, 2017, 9:27 pm IST
UAE have pledged USD $100 million to a women's business fund supported by Ivanka Trump. (Photo: AFP)
 UAE have pledged USD $100 million to a women's business fund supported by Ivanka Trump. (Photo: AFP)

Riyadh: Saudi Arabia and the United Arab Emirates have pledged USD $100 million 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 Jim Yong Kim announced the donation from both oil-rich 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.

Kim said the donation along with other pledges from the United States and other countries will allow the World Bank to announce the creation of a USD $1-billion fund for women empowerment during the G-20 summit in July.

"This is really a stunning achievement. I've never seen anything come together so quickly," he commented, according to the source. 

The US president flew to Israel on Monday after a two-day stay in Saudi Arabia, which he chose for his first foreign trip since taking office in January.

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Location: Saudi Arabia, Riyadh, Riyadh




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