President Trump on Saturday pledged a $50 million U.S. donation to the new World Bank Group Facility for Women Entrepreneurship, saying that more businesswomen in the developing world held “tremendous promise for economic growth and prosperity.”
“When more women participate in the work force — which by the way will be a lot more competition for people like me prior to government,” he said, “the world economy will grow and millions of people will be lifted out of poverty.”
The president made the announcement at a women’s entrepreneurship finance event at the G20 summit in Hamburg, Germany.
The event at the Hamburg Messe was attended by World Bank Group President Jim Yong Kim, German Chancellor Angela Merkel and other dignitaries, including Mr. Trump’s daughter and top aide Ivanka Trump, who has championed women entrepreneurs in her advisory role within her father’s administration.
The contribution announced by the president was the top donor level for the facility.
The U.S. initiated the idea for a center to advance women’s entrepreneurship and help women in developing countries gain access to the finance, markets and networks necessary to start and grow a business.
The U.S. also will serve as a founding member of the facility along with other donor countries.
At the event, Mr. Trump acknowledge his daughter, a successful entrepreneur in her own right. He said he was very proud of her.
“If she weren’t my daughter it would be so much easier for her,” he said to some slightly nervous laughter. “It might be the only bad thing going for her.”
• S.A. Miller can be reached at smiller@washingtontimes.com.
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