The Central Bank of Egypt (CBE) said on Saturday that nearly 8,100 vehicles benefited from the initiative launched by the State to replace old vehicles with dual-fueled ones at a total of two billion pounds till December 2021.
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The initiative offers a sum of EGP 15 billion with an interest rate estimated at 3 percent in light of President Abdel Fattah El Sisi’s directives, the CBE said in a press release.
The initiative aims to encourage citizens to use dual-fuel vehicles through providing the financing required at low-interest rates, the CBE said.
It added that the payment period shall range from 7 to 10 years.
