The new fund-raising association Press and Pluralism will be launched Wednesday in France to allow individual and group investors to donate to press companies.

For the past five years, daily newspaper publishers and global news magazine publishers in the country have been requesting this type of funding system.

Five press syndicates (including daily national French press representatives), regional press and global news magazines will meet Wednesday to give the association the go-ahead, according to a report by Le Figaro.

Individuals donating to the association will receive a 66 percent tax deduction of the donation amount, while groups donating will receive a 60 percent tax deduction, for contributing to French culture.

Distributing donations will be done in one of two ways: either the money will be given to the publication the donor chooses, or funds will be sent to a specially created commission, which will be in charge of distributing the funds. Should the second option be chosen, the funds will be used to back projects of more general concerns, such as newspaper delivery in specific areas, student subscriptions or new kiosk purchases.

The French printed press is currently suffering due to a drop in the advertising market.

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