Posted on 07/08/2017 1:31:52 AM PDT by Pinkbell
10:03 a.m.
President Donald Trump is praising a new women's entrepreneurship fund launched by his daughter and the World Bank Saturday that will help women access capital, financing and other support.
Trump says that his administration is making a $50 million commitment to the effort at an event held alongside the Group of 20 world leaders' summit in Hamburg, Germany.
He says the group will help eliminate barriers for women to launch businesses and transform "millions and millions of lives."
World Bank Group President Jim Yong Kim announced Saturday that the Women Entrepreneurs Finance Initiative had raised $325 million from governments including the U.S., Germany, Saudi Arabia, the United Arab Emirates and Canada.
Trump says that, "Empowering women is a core value that binds us together."
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9:45 a.m.
First Daughter Ivanka Trump and the World Bank are rolling out a new fund that aims to help female entrepreneurs access capital, financing and other support.
World Bank Group President Jim Yong Kim says the Women Entrepreneurs Finance Initiative fund has so far raised $325 million from various governments. He hopes to leverage that into multibillion-dollar fund.
The money will go toward improving access to capital and markets, providing technical assistance, training and mentoring, pushing public policy and investing in projects and programs that support women and women-led businesses.
Kim says, "this is not acute little project," and says it will drive economic growth.
He's speaking at a panel on women's entrepreneurship that coincides with the meeting of Group of 20 leaders in Hamburg, Germany.
(Excerpt) Read more at abcnews.go.com ...
Let’s hope it has a good tooth to tail ratio and that it doesn’t end up becoming a progressive slush fund.
Am I dreaming? One of the MSM’s actually said something good about President Trump!?
>Am I dreaming? One of the MSM’s actually said something good about President Trump!?
They don’t want to end up like CNN.
Why not a fund for men? Maybe some men want to start business too? And maybe a government set-aside for white male-owned businesses?
Come on now. You know that when you were 16, by your "privilege" all the banks sent you a combination to their vaults and a special unlimited ATM card good for any amount of money at any bank in the world.
>>The money will go toward improving access to capital and markets, providing technical assistance, training and mentoring, pushing public policy and investing in projects and programs that support women and women-led businesses.<<
Call me cynical but a statement like this tells me the only people who will benefit will be the administrators and staff of the program.
Little if anything will actually make it to the target people.
And my wife is CEO of our company — is she eligible to get what little will be left?
Would we be doing it if it wasn’t Ivanka’s idea?
Frankly the world bank has a terrible record.
This is where the money per usual will go —
“providing technical assistance, training and mentoring, pushing public policy and investing in projects and programs that support women and women-led businesses.”
Per usual, the people in the “women in business” business will soak up most of it. Same goes for such programs for minorities. And being administered by the WB, you know it will especially be a racket.
From where are the funds to come? Has Congress authorized this expenditure, specifically, or is it to come from the Federal government's billions of dollars of slush? Which department, though, and who is the appointee who will approve it?
(I know, I know ... $50 million is just a rounding error, but we accountants like to know these things.)
Stupid move on Ivanka's and our President's part for hitching their wagon to the World Bank. Just crapped away a bunch of money.
This is a drop in the bucket compared to what her two big shiny new entitlements of government-funded childcare and paid parental leave will cost.
Ivanka is undoubtedly the single most expensive woman, for Americans, in history. Because she’s Daddy’s Little Girl.
I think the chance of either of those making it through Congress is zero, even if President Trump promises Democrat lawmakers the moon and a basket of kittens.
This $50 million, as you say, is a drop, but I'd still like to know the chain of authorization. Also, citizens should know that drops of $50 million pour like a summer storm from our government, regardless of who is in office.
No wonder why they are saying good things - the policy is terrible. I hope this is not true, he will hurt himself badly in at least two ways (playing to genderism, and using tax dollars for his daughter’s pet project, both of which are abhorrent) if it is.
Welfare with a fancy name is still welfare, especially when it favors women (again).
Very disappointing. A number of issues come to mind. Is this actually constitutional? Does this fit with knowing we are broke? How does this comport with reducing the size and budget of government? Is this really the intended function of government and should the populace be taxed for such?
I know, it feels good and government is so out of control now, just a little more will not hurt or even be noticed. Besides, who wants to be accused of being sexist or conservative or anti anything?
I wish I had your confidence on the entitlements. Unfortunately it is the pattern of GOP presidents to push such through, in part because they get Democrat buy-in in Congress.
But I also agree. We should know exactly where such largess comes from—and to whom it is really going.
Micro-credit organizations such as the Grameen Bank (the concept's pioneer) and Heifer International have an excellent track record in helping poor women become economically self-sufficient. The World Bank? Not so much ... that's more about shuffling funds to those who are already well-off and connected.
Constitution, we hardly knew ye.
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