It will help not only survivors and the families of those who died but will recognise the bravery of the rescue services and members of the public who helped rescue victims.
Senior city councillors have agreed the terms of the Clutha Appeal Fund, which has already attracted donations of £100,000 in just a few days.
The aims include:
l to relieve suffering and distress, sickness or disabilityof victims of the disaster and their dependents.
l to relieve financial need among victims of the disaster and dependants of those killed or injured
l to provide support to local organisations which suffered loss or damage as a result of the disaster
l to provide support to any person affected by the disaster who the fund trustees consider should receive support and help
l to recognise the bravery of those who provided support and assistance to those affected
A report to the council's emergency committee said: "Priority will be given to victims of the disaster and their dependents."
An independent advocate will be appointed to be their first point of contact.