Women’s Entrepreneur Finance Initiative- a public-private loan program was launched by the World Bank at the G20 Summit in Hamburg, Germany, July 8, 2017. The event witnessed participation and support of many global leaders including Angela Merkel (German Chancellor), Theresa May (Britain’s Prime Minister), Donald Trump (US President), Malcolm Turnbull (Australia’s Prime Minister), Moon Jae-in (South Korea’s President), Erna Solberg (Norway’s Prime Minister), Mark Rutte (Netherlands’ Prime Minister), Shinzo Abe (Japan’s Prime Minister), Justin Trudeau (Canada’s Prime Minister), Antonio Guterres ( Secretary-General, UN) Christine Lagarde (MD, International Monetary Fund), Jim Yong Kim (Group President, World Bank) and the daughter of the US President Ivanka Trump.
The Finance Initiative for women got launched by Ivanka Trump and World Bank Group President Jim Yong Kim alongside the Group of 20 world leaders’ summit in Hamburg, Germany. This multi-billion dollar fund ($325 million) has been set up primarily with an objective to encourage women and women-led businesses by improving access to capital and markets, providing technical assistance, training and mentoring, and pushing public policy in developing countries.
Besides a contribution of $50 million from U.S.; other countries including Germany, Canada, Japan, Australia, China, Denmark, the Netherlands, Norway, and South Korea, Saudi Arabia and the United Arab Emirates have also pledged donations for the newly conceived fund that aims to improve laws and regulations that are stifling women entrepreneurs, and encouraging financial institutions to grant more loans & support.
While appreciating the initiative, U.S. President Trump said the fund would help eliminate barriers for women to launch businesses, help transform “millions and millions of lives,” and “provide new hope to these women from countless communities all across the world.” He further added “The critical investments we’re announcing today will help advance the economic empowerment of women around the world,”
Trust the initiative gains more momentum as it progresses to serve its purpose of advancing the economic empowerment of women around the world.
