Ivanka Trump recently announced that she is spearheading an initiative called The Women Entrepreneur Finance Initiative. This is an organization that will put billions of dollars into small to medium-size businesses in developing countries. Women who live in developed countries often struggle to get the funding that they need.
Anta Babacar is one of the other people who is involved with The Women Entrepreneur Finance Initiative. She manages an agriculture business in West Africa. She stated that the fund is the biggest opportunity that one can dream of. Anta said that many banks are less likely to lend money to women because they are considered a higher risk.
Anta Babacar has had to work from the bottom and work her way to the top. She stated that one of the things that she struggled with was finding a female role model. She wondered whether there was a woman in Senegal who works in the agriculture sector.
Caren Grown is a senior director who works for the World Bank Group. She stated that The Women Entreprenuer Finance Initiative is the first of its kind. It will help tackle a lot of the issues that women are having such as obtaining capital and training. She stated that this is a topic that she has discussed for several years. She is glad that there is finally help available for women in business.
Fourteen countries in the world have contributed to this fund. There is currently $340 million available. The United States contributed $50 million. The organization is hoping to get an additional $800 million from commercial financing and international financial institutions.
Caren stated that one of the keys to getting a business off of the ground is to get the funding that you need. Many women’s dreams will come true because of this funding.