The initiative offers a car scrappage scheme of long-term
loans with lower interest rates.
Jan 6, 2021
“The presidential initiative to replace and convert vehicles
to run on clean energy has drawn great interest from the public and a large
turnout at the Go Green exhibition,” Minister of Trade and Industry Nevine Gamea
said at a press conference held to mark the closing of the expo.
She announced that, over the three days of the event, the
total number of those who registered on the initiative’s website reached 20,000
The minister added that the applications submitted on the website
will be examined in the coming days, and eligible applicants will be notified to
scrap their old cars. The scrappage process will be carried out in cooperation
with the ministries of interior and local development.
The first phase, she noted, will be implemented during the
current year, and it targets the replacement of 70,000 vehicles, including
55,000 private cars and taxis, and 15,000 microbuses.
She further said that the president had launched the initiative
to help citizens replace their old cars, noting that it offers scrappage schemes
of long-term loans with lower interest rates.