Soros gives $100 million to counter effects of recession in central and Eastern Europe

George Soros is to give $100 million to support organizations working with the poor in central and eastern Europe and help them counter the impact of the economic crisis. In an interview with the Financial Times in which he announced the gift, he urged the European Union to boost its aid for the region to finance increased welfare spending and tackle rising political extremism. ‘The political risk is very severe and the rise of the chauvinistic, xenophobic far right is a disturbing development,’ he said. The gift will be concentrated in countries facing the severest recessions, including Ukraine, the Baltic states, the Balkans, and parts of central Asia and the Caucasus, and will primarily go to support groups working with children and young people.

For more information

Next News to read

Make-up of foundation boards crucial to decisions about investment

Alliance magazine