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Mon 22 May 2017 02:10 PM

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UAE, Saudi Arabia pledge $100m for Ivanka Trump's fund

Two Gulf nations want the fund to support women entrepreneurs across the Middle East

UAE, Saudi Arabia pledge $100m for Ivanka Trump's fund
Ivanka Trump, the daughter of US President Donald Trump, speaks at in the Tweeps 2017 social media forum at a hotel in Riyadh on May 21, 2017. (MANDEL NGAN/AFP/Getty Images)

The UAE and Saudi Arabia have pledged a combined $100 million (AED367m) to Ivanka Trump’s proposed “Women Entrepreneurs Fund”, according to a media report.

The two countries made the pledge during a women’s economic empowerment roundtable on Sunday in Saudi Arabia, with the fund particularly helping women in the Middle East, CNN reported.

The fund, which will be run by World Bank and not by Trump, aims to provide to female entrepreneurs with financial support in the form of capital and access to networking and financial markets.

According to news broadcaster, the first daughter and one of President Donald Trump’s closest advisor, spoke of the need for transformation at the roundtable that was attended by 15 women from Saudi business and government leaders and entrepreneurs.

“We are living in a pivotal moment in history for women. Around the world, women continue to achieve unprecedented levels of rights and freedoms. Today, you all stand on the front lines of the fight for gender equality. You recognise the indisputable truth that empowering women is key to driving economic transformation.


"Yet in every country, including United States, women and girls face unique challenges that hold them back from full and meaningful participation in all parts of society," Trump said.

However, last year, Donald Trump criticised the Clinton Foundation for accepting money from countries with human rights issues, stating the move to be in direct violation of the foundation’s mission.