Philanthropist George Soros in Moldova

Once we realize that imperfect
understanding is the human condition
there is no shame in being wrong,
only in failing to correct our mistakes.

George Soros

George Soros – the well known man whose name is closely related to extraordinary awards and significant monetary grants distributed to different areas of human development activity. In the 1980s millionaire George Soros decided to put his name down in the annals of history by helping people of various nationalities through the foundation of charity funds and organizations. The main goal was to create an open society with a high level of culture and education. Soros is a great patriot of the United States and advises to consider his country as the perfect example of cultural and economic progress. The US in his opinion is the world leader in most areas of our existence – intellectual, military, financial and others. Only in a highly developed country like that could Soros, a talented and successful entrepreneur, make millions of dollars.

Unlike many other rich people Soros is prepared to spend some portion of his huge capital on charity needs. Since 1998 annually he expends 574 million dollars on similar causes. Countries with small budgets like those of Latin America, South Asia, Africa and others, continue to receive his big financial support. In 1992 Soros arrived in Moldova to settle the allocation of economic reform stimulation funds. It has been 10 years since Soros commenced his philanthropic action, which helps bring Moldova up to one level with other European countries.

Last time George Soros visited Moldova five years ago. However a busy schedule did not permit him to remain longer than only a couple of days. This year during his stay he accorded special attention to the federalization project proposed by the OSCE to Russia and Ukraine. Financial experts say that it reflects the interests of Russia that is why it is considered extremely important for the population of Moldova to take initiative and develop an alternative project of unification, that would better correspond to new economic reforms in the country. George Soros was shocked to discover that the US has supported the unification of Transnistria and Moldova, which emphasizes Russia’s leading political role in the process. As a true American Soros believes that Moldova should strictly follow the course of close cooperation with the States. The country, after the Warsaw Agreement fell apart and America assumed an influential position, has all prerequisites to join NATO. According to Soros NATO is very important in preserving the independence of small countries, like Poland, Lithuania, Estonia, Latvia, and Moldova.

Also becoming a member of the European Union would be a big step in economic and social development for Moldova and this it should aspire to. OSCE can act as the protector of free democracy that is why the elections in Transnistria must be held under its scrutiny. Soros takes the position of those opting for a change in Smirnov’s administration and the establishment of a more democratic regime. Help in this will definitely come from the OSCE. Nevertheless the project must not be enacted as a pro-Russian procedure and on the contrary Moldova should accept the support of the US and accede to its world dominance even though after September 11th attacks it is mostly backed up by military power.

Soros noted that in the past five years Moldova has experienced a distinct process of economic revival and has witnessed the growth of a class of active entrepreneurs. Moldova is currently on the threshold of small business development, which is a largely beneficial tendency that helps decrease the level of unemployment. $1.4 million long-term credit borrowings for economic reform implementation have enabled the country to access the sphere of European activity. Soros strongly believes that Moldova should persevere in that aspect and is ready to help find the best solutions on its way to a better standard of living.

Ludmila Mamaliga
(Translated by Natalia Corobco)

Biographical Information

George Soros was born in Budapest, Hungary on August 12, 1930. He survived the Nazi occupation of Budapest and left communist Hungary in 1947 for England, where he graduated from the London School of Economics in 1952.

In 1956 Soros moved to the United States, where he began to accumulate a large fortune through an international investment fund he founded and managed. Today he is President and Chairman of Soros Fund Management LLC, a private investment management firm that serves as principal advisor to the Quantum Group of Funds, a series of international investment vehicles. In July 2000, Soros merged his flagship Quantum Fund with the Quantum Emerging Growth Fund to form the Quantum Endowment Fund. The Quantum Fund is generally recognized as the most successful investment fund ever, returning on average 31% annually throughout its 32-year history.

Soros has been active as a philanthropist since 1979, when he began providing funds to help black students attend Capetown University in apartheid South Africa. Today he is Chairman of the Open Society Institute and the founder of a network of philanthropic organizations that are active in more than 50 countries.

Soros is also the founder of The Central European University in Budapest, Prague, and Warsaw. Established in 1990, the University offers postgraduate programs in history, economics, political science, art history, and the social sciences, and serves as the centerpiece of Soros' educational initiatives in Eastern Europe.

Soros is the author of seven books, most recently George Soros on Globalization (Public Affairs, March 2002). His other books include: The Alchemy of Finance, 1987; Opening the Soviet System, 1990; Underwriting Democracy, 1991; Soros on Soros: Staying Ahead of the Curve, 1995; The Crisis of Global Capitalism: Open Society Endangered, 1998; and Open Society: Reforming Global Capitalism, 2000.

He has received honorary degrees from the New School for Social Research, the University of Oxford, the Budapest University of Economics, and Yale University. In 1995, the University of Bologna awarded Soros its highest honor, the Laurea Honoris Causa, in recognition of his efforts to promote open societies throughout the world.