Hungarian-born billionaire George Soros’ Open Society Foundations pledged Monday to invest $220 million in organizations working to promote racial equality in the US.

According to the foundation, $150 million will be given in five-year grants to “Black-led justice organizations that helped to create and now sustain the momentum towards racial equality.” Racial equality groups like Black Voters Matter and Circle for Justice Innovations are among the recipients.

The remaining $70 million will be divided among local initiatives that support progress towards racial justice.

Read more at i24NEWS.