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Trump pledged $50 million for a new global women’s business fund

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President Donald Trump said Saturday the U.S. would contribute $50 million to a new World Bank fund conceived by his daughter that aims to help women entrepreneurs access capital and other support.

Ivanka Trump joined World Bank Group President Jim Yong Kim on the sidelines of the G-20 world leaders summit in Hamburg, Germany, to launch the Women Entrepreneurs Finance Initiative.

Kim said the fund had raised more than $325 million so far for projects and programs to support women and women-led businesses by improving access to capital and markets, providing technical assistance, training and mentoring, and pushing public policy.

"The critical investments we’re announcing today will help advance the economic empowerment of women around the world."
President Donald Trump

Donald Trump on Saturday also took a moment to praise his daughter, saying he's been proud of her since "day one."

Ivanka Trump has faced sustained criticism from opponents of her father who’d hoped she would be able to push him to adopt more moderate policies.

Saturday she faced criticism for taking her father's seat at the G-20 summit session.

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The Associated Press contributed to this report.

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