Five thousand Egyptian pounds (around $700) will be given to the families of at least 13 Egyptian fishermen who died in a Sunday boat crash, while LE2,000 ($280) will be given to the injured.
Daqahliya governor, where the fishermen are from, told MENA that a search is still ongoing for 14 missing fishermen.
An Egyptian fishing boat, carrying 40 fishermen, collided with a Jeddah-bound Kuwaiti container ship travelling from Italy, Red Sea port authority spokesperson Abdul-Rahim Mustafa previously told Ahram Online.
The accident took place after dawn near Raes Gharib in the Gulf of Suez, some 360km south of Cairo.
In February 2006, around 1,000 people, mostly Egyptians, were killed when a ferry caught fire and sank in the Red Sea, in one of the country's worst sea disasters.