George Soros gives $27.4 mln to African villages


Billionaire George Soros giving $27.4 million for African villages development project

By the Associated Press

UNITED NATIONS — George Soros has pledged $27.4 million to aid development in targeted villages across rural Africa, the billionaire financier said. Soros also pledged up to $20 million in loans to support business projects within those villages over the next five years.

The founder and chairman of the Open Society Foundations thanked his board of directors Monday for backing his pledge to the Millennium Villages project despite early misgivings.

The Millennium Villages project aims to help 500,000 people in 10 countries across Africa to reach U.N. development goals and offer a model for the remainder of the continent.

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Photo by EFE/Archivio

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