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Ivanka Trump rolls out Women Entrepreneurs Finance Initiative (We-Fi)

Yesterday, on the final day of the 2017 G20 summit, Ivanka Trump helped to roll out a new women’s entrepreneurship initiative called “We-Fi”, or Women Entrepreneurs Finance Initiative. She joined Jim Yong Kim, World Bank President, on a panel to formally roll out the initiative.

Ivanka with World Bank President Jim Yong Kim AFP PHOTO / POOL / Michael Kappeler

The initiative worth over a billion dollars will provide both non-financial and financial resources from the World Bank, including loans, guidance and technical assistance, mentorship opportunities, and policy reform to get rid of barriers for women in developing countries. With funding for the facility coming from both the public and private sectors, including international financial organisations, commercial financing foundations and individuals.

The U.S. will be donating $50 million dollars to the initiative, according to President Trump.

Ivanka made headlines for another reason this weekend. She briefly took her father’s seat while he attended bilateral meetings during a session during the summit in Hamburg. This prompted nepotism claims and discussion surrounding her political and diplomatic qualifications.

Ivanka sits in for Pres. Trump during the G20 Summit. (Sky News)
Ivanka has experience as a female entrepreneur herself, albeit having an easier start than most. As well as having a career in real estate, she created an apparel and accessory business, which faced controversy earlier on in the year, she took a formal leave of absence from the brand in January but keeps her ownership.
As previously mentioned, many female entrepreneurs looking to set up their own business have a far less advantage than Ivanka did. Particularly for women in developing countries, access to capital and financial resources or technology are limited. The initiative combats these issues, or at least hopes to.
It has been said that the creation of the facility was Ivanka’s idea as she held meetings at the start of her father’s administration on the topic of women’s empowerment including one with World Bank President Jim Yong Kim, who guided the facility’s creation.
A World Bank source said in May that Ivanka Trump’s  role in advocating for the facility was “instrumental.” She was in communication with the World Bank President as the facility passed through its working stage phase, she publically thanked and praised his leadership on social media.
President Donald Trump also participated in the panel where he talked about his daughter’s involvement: “if she weren’t my daughter it would be so much easier for her,” Trump said. “Might be the only bad thing she has going, if you want to know the truth.” He also said: “I am very proud of my daughter Ivanka,” he said. “Always have been, from day one, I have to tell you that, from day one, she has always been great.”
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