U.S. Markets open in 8 hrs 13 mins

Ivanka Trump, World Bank discuss women entrepreneur fund

In this Tuesday, April 25 photo, Ivanka Trump, daughter and adviser of U.S. President Donald Trump, center, and German Chancellor Angela Merkel, left, attend a dinner after they participated in the W20 Summit in Berlin. (AP Photo/Michael Sohn, pool)

WASHINGTON (AP) — Ivanka Trump has been involved in discussions with the World Bank about establishing a funding operation to support female entrepreneurs, bank and administration officials said Wednesday.

The officials stressed that nothing has been set up yet and that talks are ongoing about how this would be structured.

They said it could be a World Bank-run "facility," which accepts contributions from governments and private donors and then provides funding and support to women in developing countries.

According to a senior administration official, Trump recently pitched the idea to World Bank Group President Jim Yong Kim.

The administration official, who sought anonymity because the project is in its early stages, said Trump would have no official authority over the fund and would not solicit contributions, but would be a "strong advocate."