Prime Minister Hazem El-Beblawi has appointed a nine-member board of trustees for the 306306 Egypt Support Fund.
The nine members will have the responsibility of “establishing an institution of public interest in accordance with the law of civil associations and institutions under the name ‘Egypt Support Fund’,” said a statement published by the Cabinet on Thursday evening.
The nine members of the board of trustees, according to the statement, are: former Governor of the Central Bank of Egypt Farouk Al-Oqda, former Minister of Environment Nadia Makram Ebeid, owner of the CBC satellite channel Mohamed Al-Amin, businessman and billionaire Naguib Sawiris, economics professor Galal Amin, law professor Hani Sari-El Din, journalist Khairy Ramadan, poet Ahmed Fouad Negm and a representative from the Ministry of Defence.
The account number, 306306, makes reference to the mass demonstration on 30 June that prompted the General Abdel Fatah Al-Sisi to deliver former President Mohamed Morsi a 48-hour ultimatum. Morsi was ousted on 3 July.
The fund has been set up to accept donations from “citizens and national and foreign entities to support Egypt.” The cabinet statement stressed that the money will be used “for the purpose of education, health, infrastructure in villages and youth employment.”
At the end of August, interim Minister of Planning Ashraf El-Araby said the fund had collected more than EGP 700m.
A similar fund was set up following the 25 January Revolution, with the account number 2512011.