Billionaire George Soros said in an opinion piece in the Wall Street Journal that he would invest $500 million to meet the needs of migrants.
The White House announced the commitment from Soros and around 50 other companies ahead of Obama convening a refugee summit Tuesday afternoon.
Soros also said that he plans to work more closely with the Office of the United Nations High Commissioner for Refugees and the International Rescue Committee to assist in his investments.
‘In response, I have decided to earmark $500 million for investments that specifically address the needs of migrants, refugees and host communities. I will invest in startups, established companies, social-impact initiatives and businesses founded by migrants and refugees themselves. Although my main concern is to help migrants and refugees arriving in Europe, I will be looking for good investment ideas that will benefit migrants all over the world.’
‘Governments must play the leading role in addressing this crisis by creating and sustaining adequate physical and social infrastructure for migrants and refugees.’
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