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Soros boosts private university’s funding for global move

VIENNA (AP) — Philanthropist George Soros says the private university he founded will receive a major funding boost and link up with other progressive institutions around the world. Speaking Friday in Vienna, the Hungarian-American billionaire said his charitable foundation would commit 750 million euros ($830 million) to Central European University.

The university recently moved its U.S.-accredited degree programs from the Hungarian capital of Budapest to Austria because Hungary's government refused to sign an agreement allowing it to stay. According to a transcript of his speech, Soros said Central European University felt “morally obligated” to keep a presence in Hungary to support academic freedom in the country.

He added that the new Open Society University Network established together with U.S.-based Bard College will be open to like-minded institutions globally.

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