Trump Administration launches new women's economic empowerment initiative
After US President Trump previewed a new women's empowerment initiative during his State of the Union speech, the administration officially unveiled the 'Women's Global Development and Prosperity Initiative' (W-GDP). The fund, which was championed by Ivanka Trump, the daughter of the president and a senior White House adviser, is an effort to assist 50 million women in the developing world by 2025.
The United States Agency for International Development (USAID) will initially put up US$50 million for the fund, which is intended to then mobilize private money. The announcement was met with mixed reviews, including questions about the size of the initial investment and the fact that the Trump Administration has tried to cut USAID's budget over the last two fiscal years. After these criticisms, the White House revised the figure up to US$300 million, although gave no specifics as to where those funds would come from.