From the sidelines of the Group of 20 world leaders’ summit in Hamburg, Germany, Ivanka Trump, a senior White House adviser to her father, launched the Women Entrepreneurs Finance Initiative to help advance the economic empowerment of women around the world.

President Donald Trump said Saturday the U.S. would contribute $50 million to the new World Bank fund conceived by his daughter that aims to help women entrepreneurs access capital and other support.

World Bank Group President Jim Yong Kim said the fund had raised more than $325 million so far for projects and programs to support women and women-led businesses by improving access to capital and markets, providing technical assistance, training and mentoring, and pushing public policy. The fund grew out of conversations between Ivanka Trump and Kim early in Trump’s administration.

“This is not a cute little project,” Kim said during a panel discussion, arguing the effort would spur real economic growth and critical investments.