President Donald Trump announced Saturday that the White House will steer $50 million to a female entrepreneurship project whose launch was spearheaded by his daughter.

Trump thanked Ivanka during an appearance at the G20 summit for being 'a forceful advocate for landmark women entrepreneurs.'

But he seemed to acknowledge that his own status as a global lightning rod has raised roadblocks for her that might not be there otherwise.

'If she weren't my daughter it would be so much easier for her,' the president said. 'It might be the only bad thing she has going, if you want to know the truth.'

President Donald Trump joked Saturday during the Women's Entrepreneurship Finance event at the G20 Summit that Ivanka might find success easier to come by if she weren't his daughter

Ivanka Trump listened to World Bank President Jim Yong Kim during the Women's Entrepreneurship Finance event at the G20 leaders summit in Hamburg. Kim said governments had put $300 million into a fund to help launch female-owned businesses

Ivanka (speaking to International Monetary Fund Managing Director Christine Lagarde) spearheaded the creation of the fund at the White House

The $50 million contribution will be part of a pot of government money that now exceeds $300 million, three times its original goal, World Bank President Jim Kim said.

Kim predicted a 10-to-one expansion of the World Bank-managed fund from the private sector, making more than $3 billion available to subsidize women's business ventures worldwide.

Trump said the result will be the biggest initiative of its kind in history. 'I think there's really nothing even close,' he declared.

'This has been a really difficult one but once it got going – it was about women, and it just took off beyond what anybody thought,' Trump added.

The $50 million contribution from the U.S. puts America at 'the highest donor level,' according to a White House official.

The president kissed Ivanka after thanking her for being a 'champion' for women's empowerment

'With a $50 million commitment the United States will continue to lead [on] the world stage in developing policies to empower women financially in our modern economy,' he said.

The president told his Saturday morning audience that 'empowering women is a core value that binds us together,' and that he is 'very proud of my daughter.'

'She's always been great. Champion, she's a champion,' he said.

Trump said that both developed and developing countries would see an influx of new economic activity in the coming years from women who had previously been shut out of their chosen industries.

Donald Trump delivered remarks at the women's finance event, where Ivanka spoke earlier in the day

A new stream of female leaders, he said, would mean 'a lot more competition for people like me' – referring to his real estate career before he entered politics.

'That's a lot of competition,' he said. 'Talented, talented competition.'

Trump began his remarks by praising Canadian Prime Minister Justin Trudeau for doing a 'spectacular job' and thanking German Chancellor Angela Merkel for staging a 'really incredible' summit.

'Everybody loves him,' he said of the famously handsome Trudeau, 'and they love him for a reason.'

Trudeau announced a $20 million contribution from Canada to the fund.

Trump noted that 'quite a few people' had turned up for anti-capitalist protests this week in Hamburg.

'They seem to follow your G20s around,' he said.