Egypt pays EGP 650M green incentives to replace 26,450 obsolete vehicles
Updated 4/9/2023 10:26:00 AM
Arab Finance: Egypt’s public treasury has afforded more than EGP 650 million as green incentives to replace 26,450 old cars with new natural gas-run ones under the obsolete vehicles replacement initiative, Minister of Finance Mohamed Maait revealed on April 6th.
The presidential initiative has entered 15 governorates across the country within two years since its launch in 2021, the minister said.
He added that these governorates are Ismailia, Sharqia, El-Beheira, Beni Suef, Sohag, Luxor, Aswan, Cairo, Giza, Alexandria, El-Qalyubia, Port Said, El-Suez, the Red Sea, and South Sinai.
The government is working on expanding the base of beneficiaries to cover the remaining governorates within the framework of its efforts towards green transition, Maait noted.
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