Egyptians donate to save their countries economy
Hisham Ramiz, Governor of the Central Bank of Egypt - YOUM7 (Archive)
By DALIA FAROUK

CAIRO: Central Bank of Egypt (CBE) created an account “037037” to receive donations for funds for Egypt after President Abdel Fatah al-Sisi announced Tuesday in televised speech that he will donate half of his salary and wealth to the country.

Many prominent figures, businessmen, and average citizens announced in different television programs Tuesday that they will donate different amounts of money in the mentioned bank account.

General Manager of Arab Organization for Industrialization told CBC channel in phone interview that their employees decided to donate 10 percent of their salaries for one year and called all Egyptians to support their country.

Egyptian Actor Adel Imam announced Tuesday in a phone interview to Tahrir channel that he will donate 52.5 million EGP to the CBE’s account.

Different TV hosts said they will donate and called to encourage people to do the same, including Ahmed Mosa in Sada el-Balad who said that he will donate 50,000 EGP.

Governor of Central Bank of Egypt Hisham Ramez told Youm7 Tuesday that the bank opened the account to receive donations to support the economy.

It is worth mentioning that last year witnessed the launch of similar funds and accounts including the Supporting Egypt Fund and, which bank account number was “306306.” It was launched right after the June 30 Demonstrations.

In January, the Ministry of Housing signed a protocol with the fund to develop the poorest villages in Upper Egypt.

Former Prime Minister Hazem al-Beblawy issued a decision in October to form a board of trustees for the fund, which included many public figures such as businessman Mohamed el-Amin and Television presenter Khairy Ramadan, Youm7 reported

Amin, who is the chairman of CBC, told them in phone interview that “306306” fund gathered donations reached one billion EGP, 200 million EGP of which were used in several projects to develop Upper Egypt.

He said the remaining 800 million EGP are still in the fund and that the board of trustees will meet to make a decision about this amount after Sisi’s initiative. Amin told Al-Qahera Al-Youm TV channel in a phone interview that he will donate half of his wealth and what is equivalent to half of his employees’ salaries.

Sisi’s donations aimed to encourage people to donate to save Egypt’s economy that has been struggling for the past three years since the January 25 Revolution in 2011. A recent report by the Central Bank of Egypt on June 2 showed that domestic public debt rose by 3.4 percent during the first quarter of 2014, and the total debt now stands at 1.7 trillion EGP.

Sisi also announced in his speech that he refused to accept the new budget and told the government that he cannot sign the budget as it needs to be reviewed again. “I need the next generation to have something good. If we let the debt go up like this we will not leave anything good for them,” he explained.

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Comments

  1. mohamed hassan
    June 25, 2014 at 4:51 pm

    proud of u! go ahead!
    uncle mohamed

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