1. World Bank Partners With Ivanka Trump On New Project Over $1 Billion To Be Funded For Women Entrepreneurs.
World Bank has revealed it will act on the idea developed alongside Ivanka Trump by starting a fund to finance women entrepreneurs.
The institution said that the Women Entrepreneurs Finance Initiative will make more than $1 billion available to improve access to capital for women.
“Empowering women economically is a moral issue, but it’s also a critical economic issue. No country, organization, or economy can reach its full potential and meet the challenges of the 21st century without the full and equal participation of women and men.” World Bank President Jim Yong Kim said.
Ivanka, who works in the White House as an adviser to her father Donald Trump, told reporters on a conference call that she won’t play a fundraising role but will be a very strong advocate for the fund.
According to Bloomberg, the trustee of the fund will be the World Bank, which will be overseen by a governing committee representing the donors with the first meeting scheduled for October.
The bank targeted $200 million in grants from donor countries and $800 million from financial institutions and commercial contributors. However, the contributions will significantly exceed that amount, according to the development lender.
The fund will provide technical assistance and invest in projects and programs that support women and women-led small and mid-size businesses.
2. U.S. To Donate $639 Million To Nigeria, And Other Nations Facing Starvation.
U.S. President Donald Trump has promised to donate $639 million to help people facing starvation due to drought and conflict in Northeast Nigeria, Somalia, South Sudan and Yemen.
According to Rob Jenkins, Acting Head, Bureau of Democracy, Conflict and Humanitarian Assistance at the U.S. Agency for International Development (USAID), Nigeria will receive $121 million, Yemen will receive $191 million, South Sudan will receive $199 million dollars and Somalia will receive $126 million.
“With this new assistance, the United States is providing additional emergency food and nutrition assistance, life-saving medical care, improved sanitation, emergency shelter and protection for those who have been affected by conflict,” USAID said in a statement.
Jenkins added that conflicts in all the four countries had made it difficult to reach some communities in need of food and USAID was also concerned about the situation in southern Ethiopia.
According to Vanguard, the new funding brings to $1.8 billion aid promised by the U.S. for fiscal year 2017 for the crises in the four countries where the United Nations had estimated more than 30 million people needed urgent food assistance.
According to the World Food Programme (WFP) estimate, “$109 million people around the world will need food assistance this year, up from 80 million last year, with 10 of the 13 worst-affected zones stemming from wars and man-made crises. If we didn’t receive the funding we needed immediately that 400,000 to 600,000 children would be dying in the next four months,” David Beasley, Executive Director, WFP said.
Beasley added that the agency had worked hard with the White House and the U.S. government to secure the funding, but Trump insists that other countries contributed more as well.