Soros to invest $500 million to help refugees and migrants

Sep 21, 2016, 01:16
Soros to invest $500 million to help refugees and migrants

But he said many countries, "particularly those blessed with wealth and the benefits of geography", can do more to offer assistance to more than 65 million people who have fled their homes because of war or persecution or to seek a better life.

Soros, who in 1947 fled Hungary for England, said he will work with global organizations that help refugees to determine how to invest the money, but he hinted that tech is one likely benefactor.

Japan announced on Monday that it would provide $2.8 billion to help deal with the global refugee crisis over three years from 2016, while China said it would give an additional $100 million and is also considering setting aside a $1 billion fund for the objective.

"Unless we resolutely put out the fires that have caused so much suffering, we will not be able to find a long-term solution to this crisis", Prime Minister Muhammad Nawaz Sharif told the UN General Assembly's first-ever Summit for Refugees and Migrants.

Calling on all partners to support implementation of the Declaration's commitments, Lykketoft also welcomed the Secretary-General's campaign to counter xenophobia and intolerance.

That may prove an uphill struggle, however, as the declaration comes at a time that refugees and migrants have become a divisive issue in Europe and the United States.

Obama's other major priority at the United Nations this year is to force more aggressive action to mitigate the worst refugee crisis since World War II, stemming in large part from the Syria war.

Addressing world leaders, May called for a greater distinction between refugees and people trying to enter a country for economic reasons, reported the BBC.

Belarus Minister for Foreign Affairs Vladimir Makei speaks during a meeting addressing the large movement of refugees and migrants, Monday, Sept. 19, 2016, at United Nations headquarters.

By agreeing to the non-binding document, world leaders reaffirmed existing laws and guidelines, while also pledging to boost funding for humanitarian aid for refugees. The Obama administration hopes to secure agreements to pay for food aid and to double the number of refugees re-settled in third countries each year.

During both the Plenary and Round Tables, Eliasson said States have emphasized the centrality of human rights for migrants and refugees, and reaffirmed their worldwide obligations.

Kerry's speech, the day before President Barack Obama is to hold a summit on the same topic at the UN General Assembly, came as the world body announced its formal affiliation with the International Organization for Migration, symbolizing the UN's commitment to resolving the refugee crisis.

Prior to the pledging summit with world leaders, Obama will host a meeting with top executives from 50 companies to discuss what the private sector can do to help address the problem, Power said.

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