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On 29 September 2011, Tonika Hirdman, Director of Fondation de Luxembourg presented ‘The New Era of Philanthropy: The Luxembourg Charitable Foundation’ at The Society of Trust and Estate Practitioners (STEP) Benelux Branch.
The role of philanthropy in Europe has grown remarkably in recent years. In nine European countries, 43 % of foundations were created during the last five years. Since 1995, 4000 foundations have been created in Spain alone. In France, corporate philanthropy has more than tripled in volume between 2003 and 2005 to reach 1 billion euros per year. In Germany, 800 new foundations are established every year.
There are several reasons behind this growth - the huge increase of wealth creation over...
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