PtP in the News: World Financial Review article on PtP and stolen assets

A new article focusing on PtP has been published in the latest edition of The World Financial Review. Noting that past experience with the return of stolen assets to governments has too often led to disappointing results, this brief piece, “Where Should All the Stolen Money Go?,” urges consideration instead of applying the Philanthropication thru Privatization, or PtP, concept, which calls for the placement of such assets into carefully structured, private charitable foundations as exemplified in the BOTA Foundation in Kazakhstan and many other foundations around the world. This solution produces win-win benefits for countries and citizens alike, helps mobilize citizens for anti-corruption action, and ensures that preciously needed resources are used transparently and accountably to benefit citizens and not dumped into government coffers or returned to the corruption stream. In this challenging time, when massive emergency funding from governments has intensified concerns about potential corruption, it is more important than ever to ensure that when corruption-generated resources are identified and returned they are truly dedicated to citizen needs. The PtP approach is a proven alternative for achieving this. Please feel free to share the article with those in your networks. You can read the full article from The...

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PtP in the News: WINGS Philanthropy in Focus Blog Highlights PtP

A new article by Project Director Lester Salamon published on the WINGS Philanthropy in Focus blog introduces a promising new route to creating endowed charitable foundations through the process we have termed “Philanthropication thru Privatization,” or PtP for short. This process involves capturing for charitable endowments the proceeds of a host of non-traditional transactions under way around the world. These transactions involve assets that are “invisible in plain sight:” they are in the ground in the form of mineral deposits, in the air in the form of broadband spectrum auctions, in foreign banks in the form of stolen assets, and in legal cases imposing penalties for corporate misdeeds. The PtP Project has already identified well over 600 foundations around the world that have gained endowments from such transactions. This brief piece provides a concise overview of the PtP initiative, introduces the asset classes to which this concept has already been applied, and provides examples of the resulting foundations. We are actively involved in promoting the implementation of this concept in locales across the world and would be eager to learn of possibilities in other areas. Please contact us. Please feel free to share this article with those in your...

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PtP Highlighted at Recent World Bank Spring Meeting Session on Combatting Corruption

At the recent the World Bank Spring Meetings in Washington, DC, Project Director Lester Salamon had an opportunity to introduce PtP’s potential for encouraging citizen involvement in anti-corruption efforts—a point which was highlighted as one of the “6 Takeaways From the World Bank Spring Meetings,” as excerpted below. By Sophie Edwards // 19 April 2018   WASHINGTON — Representatives from the World Bank, business, technology companies, media, and law enforcement discussed ways in which they can work together to combat corruption during the Spring Meetings….   Wednesday’s session brought together a diverse range of actors from government, the private sector, media, and academia to discuss new ways and challenges to ending corruption.     6. New models for spending seized assets “Citizens will not get serious about working on corruption unless they see a better result coming from the capture of corrupt assets than they are seeing now,” according to Lester Salamon, director of the Center for Civil Society Studies at Johns Hopkins University. “Currently, these assets are put back into government agencies and flow back into corruption,”...

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A Win-Win Route Out of the Greek Debt Crisis

A new article by Project Director Lester Salamon, published today in the May-June edition of The World Financial Review, takes a look at a novel solution to the on-going Greek debt crisis. Rooted in his work exploring a phenomenon he calls “Philanthropication thru Privatization,” this solution looks at a way that at least a portion of the staggering Greek debt might be transformed into an engine of economic development, and in turn, might help make it possible for Greece to eventually payoff the remaining portion of its debt – a possible win-win solution for both sides of the divide. Below is a brief excerpt from the article. Please click here to download the full article.     …………………………………… Excerpted from the May-June 2015 issue of The World Financial Review: Two things have become clear in the Greek debt crisis. First, Greece’s creditors cannot afford to allow Greece to default on its debt and withdraw from the Euro. But second, Greece cannot afford to fulfill its existing debt obligations. Yet, defaulting on the debt or requiring Greece to fulfill all the terms of its existing debt obligations appear to be the only two options Greece and its creditors, respectively, so...

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