"Open Society" founder - who famously financed much of the opposition to Trump SCOTUS pick Brett Kavanaugh - is now partnering with Mastercard to hand out money (in the form of 'investment capital') to migrants, refugees and "others struggling within their communities worldwide," according to
Reuters. Through their partnership,
Soros is effectively providing open financial support for migrants and refugees seeking to enter the US and Europe.
In a statement, Soros and Mastercard declared that government aid programs haven't been enough to solve the issues facing refugees, suggesting that this is a problem that only the private sector can solve.
"Migrants are often forced into lives of despair in their host communities because they cannot gain access to financial, healthcare and government services," Soros said.
"Our potential investment in this social enterprise, coupled with Mastercard’s ability to create products that serve vulnerable communities, can show how private capital can play a constructive role in solving social problems," he added.
Right away, Soros plans to spend $50 million to provide "scaleable" health-care and education solutions.
Soros has said that he would prefer 'Humanity Ventures' to be profitable to attract "other businesspeople", it's unclear how, exactly, he plans to earn anything approaching a reasonable rate of return by handing out risk free loans to migrants and refugees.
This comes after Master Card back in 2016 admitted that it has handed out prepaid debit cards to migrants and refugees traveling through Europe, something the company did with the explicit blessing of the European Union and the UN High Commissioner for Refugees.