She told a U.N. Security Council meeting focusing on the scourge that the initiative will seek to raise $1.5bn, partly from the U.S. government but mostly from foreign governments and the private sector, to help countries break trafficking rings and support survivors.
Haley said groups that receive funding "must target a 50 percent reduction" in the people they seek to help escape slavery.
U.N. Secretary-General Antonio Guterres said armed conflicts "are especially virulent breeding grounds" for human trafficking resulting in forced prostitution, sexual slavery, forced marriage, trade in human organs and forced labor.
According to the 2016 Global Slavery Index that ranks 167 countries, an estimated 45.8 million people are subject to some form of modern slavery which it defines as "situations where one person has taken away another person's freedom — their freedom to control their body, their freedom to choose to refuse certain work or to stop working — so that they can be exploited."
