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Cheng Li, William R. Kenan Professor of Government, was recently appointed as secretary of the Institute of Current World Affairs. According to the Institute's executive director, Peter Bird Martin, Li's duties as secretary are to "supervise the distribution of accurate minutes of each trustee meeting and to attest to the authenticity of ICWA documents needed to conduct business legally." He will also participate in the Institute's governance and help interview candidates for fellowships awarded through the Institute. In addition to his duties as secretary, Li will serve as trustee of the two private foundations: The Friendship Fund Trust and the Crane Trust. The two trusts combined have a net worth of $8 million and help support the activities of the Institute.

According to the Foundation's website, "The purpose of the Institute of Current World Affairs is to provide talented and promising individuals with an opportunity to develop a deep understanding of an issue, country or region outside the United States and to share that understanding with a wider public. The Institute awards fellowships for a minimum period of two years to young women and men under 36 years of age who demonstrate initiative, integrity, outstanding character, good communications skills, seriousness of purpose and enthusiasm for their chosen fields."

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