The $1 billion fund to advance women’s entrepreneurship was officially announced at the G20 summit in Hamburg this weekend.
The Women’s Entrepreneurship Facility was conceived early this year by Ivanka Trump and World Bank President Jim Yong Kim and has drawn support from Germany’s Angela Merkel.
It has raised more than $325 million, including pledges from several less-than-obvious backers like the governments of Saudi Arabia and U.A.E., which jointly agreed to invest $100 million.
The Trump Administration has pledged $50 million to the fund.
Canada, Japan, Australia, Denmark, the Netherlands, Norway, and South Korea have also contributed.
