The announcement came at an event that Trump attended while visiting Saudi Arabia as part of the first foreign trip of her father's presidency.
He added that because of that pledge, as well as additional pledges from the U.S. and other countries, they are expecting to have accumulated $1 billion for the fund by the G-20 summit in July.
"This is really a stunning achievement. I’ve never seen anything come together so quickly, and I really have to say that Ivanka’s leadership has been tremendous," Kim said, according to the pool report from the event in Saudi Arabia on Sunday.
A World Bank administration official previously told The Associated Press that Trump wouldn't have a formal authority role in the fund or in soliciting donations but would be a "strong advocate."
The fund is intended to provide capital for small and medium sized women entrepreneurs.
ABC News has reached out to the White House for further information about the fund and will update accordingly.
"The World Bank Group is working with partners on the details around creating a facility for women’s economic empowerment, specifically through providing access to finance, markets and networks," the statement reads. "Typically, the governance of facilities we manage is decided among donors, and the secretariat sits within and is administered by the World Bank Group. We are very grateful for the leadership Ms. Trump and Chancellor Merkel have demonstrated on this important issue."
While specific details about the fund have not been released publicly, Trump's connection to the fund has already prompted questions from at least one senator.
"I am concerned that Ms. Trump’s refusal to divest from her business interests, and her creation of a fund to solicit foreign money, provides foreign governments an opportunity to improperly influence United States trade and foreign policy," Wyden wrote in the letter.
"Saudi Arabia and many of the countries that gave vast amounts of money to the Clinton Foundation want women as slaves and to kill gays. Hillary must return all money from such countries!" Trump wrote in a Facebook post on June 13, 2016.
ABC News' Jordyn Phelps contributed to this report.