George Soros Will Give More Than $200-Million to Central European U.
From the Chronicle of Higher Education
Wednesday, June 22, 2005
http://chronicle.com/daily/2005/06/2005062205n.htm

George Soros, the international financier and philanthropist, has pledged $206-million to the endowment of Central European University, a Budapest-based graduate institution founded shortly after the collapse of Eastern Europe's communist regimes. The university generally teaches in English and takes a critical, Western-style approach to the social sciences and humanities in a region where such approaches were once banned. The university said that the gift would be provided at the start of the next academic year, and would bring the endowment's value to approximately $486-million. Mr. Soros, who helped found the university and has been a major benefactor ever since, also announced a pledge of $24-million for the university's business school.

The Hungarian government has accredited Central European University, making it possible for the university to work more easily with peer institutions elsewhere in the European Union. The university is also accredited by an American organization, the Middle States Commission on Higher Education. "CEU has a unique dual identity and can serve as a bridge across many divides," Mr. Soros, a Hungarian-American, said in a written statement. "The increase in its endowment provides CEU with the resources and stability it needs to continue to grow into a world-class research and teaching institution aligned with a mission of promoting open societies."

The university began operations in 1991 and today has more than 1,000 students from nearly 60 countries. The endowment announcement was made this month at the university's 14th graduation ceremony.

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Copyright 2005 by The Chronicle of Higher Education
http://chronicle.com/daily/2005/06/2005062205n.htm