Cairo University officials denied news on Wednesday that presidency rejected its LE20 million donation to the Long Live Egypt fund, blaming the delay on the procedures of processing the donation, according to university spokesperson Khaled Abdel Ghaffar.
News had circulated over the presidency rejecting the donation, approved by the university council, claiming the money was for the students, faculty members and employees, which Abdel Ghaffar says is untrue.
Cairo University's student union denounced earlier this month the donation of LE20 million by Gaber Nassar, the university's president, to the Long Live Egypt fund that was established by the government to receive donations in support of the economy.
In a statement on Thursday, the union said that the money is public and was taken from the students, faculty members and employees, adding that it should not be disbursed unless it targets their interests.
Nassar had said earlier this month that the university's budget deficit has reached LE500 million.
The Long Live Egypt fund has been criticized for being a political ploy, used to stir up national sentiment and improve the image of those who donate to it. It is unclear, however, how effective establishing a fund and asking for donations can be to help rebuild Egypt's tattered economy.
Similar funds were started after 25 January revolution and 30 June revolution, calling on the public to give donate to fill Egypt's coiffers. It still remains unclear how much money has been collected into these accounts and how it is spent as the projects lack transparency.
Edited translation from Al-Masry Al-Youm