Thursday, April 27, 2017

Ethics Experts Baffled By Report Of Ivanka Trump’s New Fund For Women

White House adviser and first daughter Ivanka Trump is establishing a “massive fund” to “economically empower women” that will be funded by contributions from foreign countries and corporations, Axios reported in a vague, five-paragraph bombshell on Wednesday.

According to Axios founder Mike Allen, Trump told him directly that she has already started soliciting funds to support the fund, which will provide “working and growth capital to small- and medium-sized enterprises,” and that she has support from President Trump and World Bank Group president Jim Yong Kim to pursue the project.

A spokesman for the World Bank confirmed to TPM that Kim and Ivanka Trump are currently in talks about how to finance it. The pair co-authored an op-ed for the Financial Times this week about the need for both the public and private sectors “to move decisively to invest in women worldwide.”
But what exactly Ivanka Trump’s fund will look like and how it will operate remains a giant question mark. Ethics experts told TPM that Axios’ description leaves it unclear if the fund will be a private, for-profit endeavor or if it will be run through a federal government agency.
“We just don’t know what this is: is it animal or mineral?” Kathleen Clark, an ethics expert at Washington University in St. Louis, said in a phone interview.
“Some of the questions that need to be answered are: is it being done through governmental authority or not? Instead of private equity, is it intended as some sort of non-profit?” Clark said.  Read full story here 

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