Minister of Finance, Mohamed Maait, affirmed that Egypt is expanding its presidential initiative “Go Green” to replace old vehicles that have been manufactured 20 years or more with new cars powered by natural gas, in conjunction with the COP27, by working to include new cities and governorates, such as Luxor and Aswan.
This will contribute to increasing the number of beneficiaries and facilitating the opportunity to own modern cars instead of their old vehicles, and Egypt’s transition to clean energy.
The minister also stated that modifications were made to the website in mid-September, such as the introduction of an electronic payment method of installments enabling people who want to join the initiative to know the price of the car and the value of the monthly installment over a period of 7 and 10 years and to compare it with the rest of the vehicles available on the website.
He explained that Egypt’s Public Treasury Authority financed more than 570 million pounds in the green incentive that contributes to reducing air pollution and reducing harmful carbon emissions.
To date, 23.7k vehicles have been allocated for the initiative and more than 23.4k old cars have been scrapped with more than 40k eligible applicants according to Tamer Abdel Zaher, the initiative’s official spokesman.
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