RAMALLAH, West Bank — The Palestinian government is soliciting donations from the private sector and individual citizens for a fund to help deal with the social and health damage caused by the coronavirus outbreak in the Palestinian territories.

The Waqfat Izz (Dignified Stand) fund began accepting donations in early April and within hours had received $7 million, officials said, adding that they hope to more than quadruple that figure.

The first meeting of the fund's board, which includes 30 businessmen, was held April 6 in Ramallah. Fund director Talal Nasreddine called on the Palestinian private sector, businesses, organizations and individuals in the Palestinian territories and abroad to unite their efforts and donate to support families in need and to overcome the crisis with the least damage possible.

The government hopes the fund will be a key financial source to help it bear the financial burden resulting from the coronavirus outbreak. Officials expect a financial crisis this month, as government revenue is expected to drop by more than 50%, Prime Minister Mohammad Shtayyeh said at a March 29 press conference. As a result, the government adopted an austerity emergency budget.