George Soros, American-Jewish philanthropist and investor, announced a new $1 billion educational initiative aimed at promoting free and open societies at World Economic Forum in Davos on Friday.

The initiative aims to establish the Open Society University Network, which would “reach the students who need it the most” and “promote the values of open society — including free expression and diversity of beliefs.”

It also seeks to “strengthen foundations of open society amid authoritarian resurgence” in the world and foster a global research network countering polarization through “educating students to examine issues from different perspectives and advance reasoned arguments.”

Read more at i24NEWS.