Egypt premier assigns committee to manage 'Long Live Egypt' fund

Ahram Online , Saturday 18 Apr 2015

The fund was established last year as an initiative by Egyptian President Abdel-Fattah El-Sisi, aiming to bolster the economy

Egyptian Prime Minister Ibrahim Mahlab (Photo: Reuters)

Egyptian Prime Minister Ibrahim Mahlab has formed an executive committee to run the "Long Live Egypt" national fund established by President Abdel-Fattah El-Sisi last year, a statement by the cabinet said.

The committee will be headed by Minister of Investment Ashraf Salman, Aswat Maasriya news website reported.

Members will include leading businessmen Naguib Sawiris and Mohamed El-Amin, as well as former Al-Ahzar Grand Mufti Ali Gomaa and General Mohamed Ibrahim as a representative from the Supreme Council of the Armed Forces.

The committee will be tasked with planning, overseeing and follow-up on fund projects.

"Long Live Egypt" was an initiative by President Abdel-Fattah El-Sisi to bolster the economy, battered by four years of political turmoil.

Individuals and businessmen have contributed billions of Egyptian pounds to the fund.

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