Saudi, UAE to grant $ 100 mln for Ivanka women development fund

RIYADH: Saudi Arabia and the United Arab Emirates have pledged $100 million to a women 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, 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 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 $1-billion fund for women empowerment during the G-20 summit in July. “This is really a stunning achievement. I have 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. 02

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