Sisi Grants National Fund Legal Personality

Egypt’s President Abdel Fattah al-Sisi issued on Wednesday a decree granting the national fund “Tahya Misr” legal personality for the purpose of allocating its money to services and developmental projects.

The presidency officially launched an initiative on July 1 to encourage Egyptians to donate money to the fund, established to provide an additional source of funding for public projects other than the state budget.

According to Wednesday’s decree, the “Tahya Misr” fund will have its own board of trustees, headed by the Prime Minister, said Presidential Spokesman Alaa Youssef.

Youssef added in a statement that the fund’s headquarters will be in Cairo, with the possibility of creating other branches nationwide.

The fund will be sponsored by the president and working under the cabinet’s supervision, as per Wednesday’s decree.

Sisi has repeatedly urged Egyptians to donate money to the fund.

Speaking at a ceremony on August 5, Sisi said the Tahya Misr (Long Live Egypt) fund needs at least 100 billion Egyptian pounds “on the side.”

The president said he will keep reiterating his call for contributing to the fund, adding that Egyptians are “embarrassing” him by not being responsive enough.

Source : Aswat Masriya