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American Jewish philanthropist George Soros has announced an investment of $1 billion in a new international educational initiative to promote liberal values and free societies.

Soros announced the Open Society University Network at the World Economic Forum in Davos, Switzerland, calling it "the most important and enduring project of my life."

Details on the project were scant, but a statement said it would aim "to reach the students who need it the most and to promote the values of open society -- including free expression and diversity of beliefs."

It will also seek to assist "institutions in need of international partners, as well as neglected populations" and help "politically endangered scholars."

The initiative describes itself as seeking to "strengthen foundations of open society amid authoritarian resurgence" around the world, and to "counteract polarization by promoting global research collaboration and educating students to examine issues from different perspectives and advance reasoned arguments."

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