Rich lister invests $683m to help migrants

  • 21/09/2016
George Soro plans to work closely with the Office of the UN High Commissioner for Refugees (Reuters)
George Soro plans to work closely with the Office of the UN High Commissioner for Refugees (Reuters)

Billionaire investor George Soros says he will invest US$500 million (NZ$683 million) to meet the needs of migrants and refugees.

The investment comes in response to the Obama administration's "Call to Action" initiative, asking US companies to help ease the migrant crisis.

"We will invest in start-ups, established companies, social impact initiatives, and businesses started by migrants and refugees themselves," Soros said in a statement.

"These investments are intended to be successful. But our primary focus is to create products and services that truly benefit migrants and host communities."

Soros, founder of the Open Society Foundations, also said he plans to work closely with the Office of the United Nations High Commissioner for Refugees and the International Rescue Committee to guide his investments.

This comes a day after the ceasefire between the US and Russia in Syria collapsed, after a deadly attack on a convoy carrying humanitarian supplies near Aleppo.

The Hungarian-American businessman first made the announcement in an opinion piece in the Wall Street Journal.

Reuters

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