Word: hiid
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Dates: during 1990-1999
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According to The Nation, on several occasions HMC and billionaire George Soros were the only foreign entities allowed to participate in auctions of Russian companies. These 1995 auctions--known as "loans for shares"--were an integral part of the Russian economic recovery program designed in part by HIID...
...Harvard Institute for International Development (HIID)--which advises developing nations around the globe--may have been offering advice to more than just foreign governments for the last six years. Its expertise and involvement in Russia may have also benefited Harvard's investment arm, Harvard Management Company...
...alleges an article in this week's Nation magazine, which explores the troubles HIID's activities in Russia encountered last May. A year ago the institute lost the remaining $14 million payment of a $57.7 million government contract because of allegations of misconduct by professors and employees in its Russia project...
These allegations also come at a time of massive restructuring of the University's activities and resources devoted to development. Starting this summer, HIID will launch a joint project with the Kennedy School of Government (KSG), a new initiative for research and teaching on development issues called the Center for International Development...
...Nation article characterizes these purchases as a blatant conflict of interest on Harvard's part. University officials acknowledge that if advice or special privileges were given, this would represent a violation of both HIID and HMC conflict of interest rules...