The Prince of Wales announced the launch of a $100m Outcomes Fund for women and girls across South Asia and its ambition to raise this fund over the next five years.

The fund will support will support half a million women and girls to access to better education, jobs and entrepreneurial opportunities over the next five years.

The Prince of Wales made the announcement at a dinner he hosted at Buckingham Palace for almost 200 supporters to celebrate the recent achievements of the British Asian Trust. The Trust was founded in 2007 by The Prince of Wales and a group of British Asian business leaders seeking to transform more lives across South Asia. The new initiative follows the success of securing $11 million funding to launch a Development Impact Bond in India last year.

Richard Hawkes, CEO of the British Asian Trust said:

‘We’re delighted to celebrate another successful year at the British Asian Trust. Launching the world’s largest education Development Impact Bond, our Child Labour Free Jaipur Programme, and expanding into Bangladesh were particular highlights for the Trust.

‘This year, we’re looking forward to building on the success with the launch of this new major Outcomes Fund for women and girls. We pride ourselves in taking an imaginative approach to tackling development challenges, brokering partnerships and promoting economic development through innovative and scalable solutions. This is just the latest example.’

The Prince of Wales was accompanied by Her Royal Highness The Duchess of Cornwall, and welcomed guests including senior Cabinet members and leading global business leaders.