MOSCOW. June 9 (Interfax) – Prominent American financier and philanthropist George Soros will reduce investments in his programs in Russia starting next year.
Speaking at the Interfax main office on Monday, Soros said these investments will on average be no more than $10 million a year, although the budget for 2003 remains at the $25 million level.
Soros said he has invested about $1 billion in projects in Russia over the past 15 years.
The financier also said he will reduce financing for programs on the global scope, as well. In particular, while his investments will total some $600 million this year, from next year this figure will go down to $450 million, he said.
Soros admitted that his financial resources are shrinking, because the time when he was making money has already gone, and he is currently spending money he earned earlier. However, he said, he believes this money will be enough for the rest of his life.
