Sunday, March 23, 2014

NEWS: Fundraising campaign for Grand Egyptian Museum launched

On March 19, 2014
During a press conference held Wednesday evening at the site of the planned Grand Egyptian Museum (GEM), Minister of Antiquities Mohamed Ibrahim launched a fundraising campaign to help in the construction of the museum, planned to be completed in 2015. The campaign is launched within the framework of a collaboration protocol signed between the Ministry of Tourism and the Chamber of Tourism Establishments, on the one side, and the Ministry of Antiquities on the other.

According to the protocol, said Ibrahim, the Ministry of Antiquities is to collect a $1 fee on every night a tourist spends in any hotel in Egypt. "This dollar is an optional fee,” asserted Ibrahim, adding that it would be paid if the tourist agrees to help in the construction of the GEM, aimed to be one of the world’s great heritage landmarks.

In parallel, archaeologist Bassam El-Shamaa launched a local fundraising campaign to support the construction of the GEM through asking all Egyptians to pay LE2 each. “This will not only help in the construction of the GEM, but also increase the awareness of Egyptians towards their cultural heritage,” El-Shamaa pointed out. El-Shamaa told Ahram Online that in collaboration with officials in the government and the Ministry of Antiquities, a safe and regulated method will be provided in order to collect the money legally.

El-Shamaa promised that every donor would be given a ticket for free entry to the GEM for 10 days. The museum complex will centre on the Dunnal Eye, an area containing the main exhibition spaces. From this central hub a network of streets, piazzas and bridges will link the museum's many sections. The design is by Shih-Fu Peng of the Dublin firm Heneghan, winners of an international architectural competition held in 2003 to furnish designs for the GEM.

On March 20, 2014
Less than twenty-four hours after launching a fundraising campaign for the under-construction Grand Egyptian Museum, contributions from Egyptian donors had reached a total of LE 52 million.

Antiquities minister Mohamed Ibrahim said in a statement that Al-Ahly Bank had offered $1.5 million (LE10.5 million) to finance the construction work of the display building and another $3.5 million (LE24 million) for the museum’s library. Banque Misr has offered LE12 million to finance the equipment needed for the school associated with the museum, while the Sewiris family, one of Egypt’s richest business dynasties, contributed LE5 million.

Ibrahim told Ahram Online that the Ministry of Tourism has made its own contribution of LE5 million, to be paid at the end of 2014, and another amount of LE 25 million, which will be paid over five years. 

The museum project is 65 percent funded by the Japan International Cooperation Agency, which is providing a $300-million soft loan to be repaid over 30 years at an interest rate of 1.5 per cent
Source: Ahram Online 19 March / 20 March 

Related Posts:

The official website for the Grand Egyptian Museum  Click Here 
Copyrights for pictures by GEM

Location of the Grand Egyptian Museum to the Pyramids of Giza

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