Soros pledges $200 million to Central European University

Harold F. Schiffman haroldfs at
Wed Jun 22 13:35:36 UTC 2005

>>From the Chronicle of Higher Education
Wednesday, June 22, 2005

George Soros Will Give More Than $200-Million to Central European U.

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

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.

Copyright  2005 by The Chronicle of Higher Education

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