Ivanka Trump announces $50M for women's global development fund

Ivanka Trump and USAID Administrator Mark Green will announce on Monday an additional $50 million for the W-GDP Fund, which aims to help 50 million women in developing countries by 2025.

"W-GDP is the first-ever whole of government approach to women's economic empowerment. Today's new announcements reflect how W-GDP is prioritizing partnering with the private sector and driving collaboration for major impact! Together we will reach our goal of empowering 50 million women by 2025," Trump told FOX Business.

Trump will announce eight awards totaling roughly $11 million on Monday as well. The awards will impact more than 17 countries.

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President Trump signed a memo in February launching the fund, which started out with $50 million as its yearly allocation. Now that number has been doubled.

"Research suggests that the more women are excluded from full participation in a country’s economy, the likelier it is that the country will be involved in conflict and respond to a threat with immediate violence," Ivanka Trump wrote in an op-ed in The Wall Street Journal when W-GDP launched. "When women are free to thrive, they bring national stability, as well as more jobs and economic growth."

W-GDP awarded $27 million to 14 projects in July. The initiative's private sector partners include Mars, Levi-Strauss and Visa.

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W-GDP stands for the Women’s Global Development and Prosperity Initiative.

Correction: The name of the fund receiving additional aid is the W-GDP Fund. The name was incorrect in an earlier version of this story.