George Soros recently wrote an article about a new initiative of his. He intends to help migrants get out of poverty. He sees a huge problem for the future of these people who have been unsettled by forced migration from their native lands. More than 10 million people over the world are moving about. Most of them live in fear and have no financial security on opensocietyfoundations.org. Many of these people are running away from a civil war caused by oppressive regimes in their home. Others are running away from a life of wretched poverty. All of these people need opportunities for economic advancement.
Governments around the world have a responsibility to address these issues. It is necessary for the creation of social and physical infrastructure for refugees and migrants. Private businesses are also needed to make this situation work. President Obama made a call to action recently to US companies. In it he asked them to play a larger role in helping to meet the challenges that migrants face when trying to integrate into the economy. Private sector leaders are convening to discuss ways to do that at the United Nations. George Soros decided to make a personal contribution to the effort. He set aside $500 million to aid with investments that will address the problems that refugees, migrants, and the communities that are hosting them face. George Soros is investing money in established companies, and startups, and initiatives that can have a social impact on refugees and migrants. His primary concern while doing this is to make a difference in the lives of migrants in Europe but he wants to help people all over the world as well.
George Soros believes that his commitment of investment equity will help the philanthropy that is also being done by his other foundations that are doing work to address migration and its related problems. George Soros has been working for decades to address issues like this. He is looking for investment opportunities in many sectors such as digital technology. It may be one of the best opportunities to meet the challenges that migrants face when they are dislocated. If advances are made quickly in the digital sector it can help people get access to other vital services like health services, financial services, and legal services. Many businesses are already putting billions of dollars into such services for other communities around the world. Money is being moved around instantaneously through mobile wallets and this will help migrants at http://www.nytimes.com/topic/person/george-soros. When you bring customization options that extend these services to migrants it will improve the quality of life for millions of them around the world.
Every investment that George makes in the future of migrants will be under the control of his nonprofit organization.