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21:54
Monday 04 January 2021
Cairo – Masrawy:
Today, Monday, the government announced the details of the national program to convert and replace cars to run on natural gas and the launch of the first technology exhibition to convert and replace vehicles to run on clean energy, which was inaugurated by the president. Abdel Fattah Al-Sisi this morning.
The first phase of the three-year program aims to replace 250,000 cars, taxis and minibuses, in addition to converting 150,000 cars to run on natural gas.
The first phase of clean energy vehicle replacement will be implemented in 7 governorates: Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said and the Red Sea.
The government has designated a hotline number 16733 to request information on the initiative in all provinces.
Nevin Jameh, Minister of Commerce and Industry, said in a statement today that the first year of the program aims to replace 70,000 cars, 55,000 cars and taxis and 15,000 minibuses.
The government will provide a subsidy called a green incentive for each car replaced by a new one that runs on natural gas, with a maximum of £ 50,000 per car, according to the trade minister.
The initiative requires that more than 20 years pass for the car model to benefit from the program, as long as the car has a valid license in the name of the person requesting a new car.
The government will receive the old car and pass it on to the Ministries of the Interior and Local Development, and will set the scrapping fee that will be left over from one car to another.
The value of the incentive and the consideration for the scrapping process will be used as an advance for the purchase of the new car through a financing program to install its price through the banks.
The Central Bank launched an initiative worth 15 billion pounds to finance this project at a reduced rate of 3%, which will be available in all banks.
The Minister of Commerce said that the request for the initiative will be through its website (www.gogreenmasr.com), and that car owners who meet the conditions will be contacted to go to a bank and agree on the value of the financing and fees and their duration.
The minister added that the procedures and conditions will be uniform in all Egyptian banks, which will participate in the initiative.
The minister said that using natural gas in transportation saves about 50% of the cost of traditional fuels, which are gasoline and diesel, in order to achieve better income for taxi drivers and minibuses, in addition to reducing pollution rates. .
The car replacement technology expo today witnessed a large crowd of citizen car owners, and the minister spoke to the attendees and asked them to apply via the website, as the expo is only intended to review the cars participating in the initiative and its procedures.
Financing conditions for angel cars
1- The age of the applicant must not be less than 21 years old or more than 55 years old.
2- The applicant must have a valid driver’s license.
3- That the applicants commit to pay the amount owed for the car in accordance with the payment terms and demonstrate the financial capacity to pay (a declaration of total monthly income and title deeds – a deposit).
4- The repayment period is up to 120 months, including a maximum grace period of 3 months.
Required documents:
1- Copy of the DNI of the beneficiary and the guarantor.
2- Present documents that prove the domicile of the beneficiary and the guarantor (lease-property contract – electricity, telephone or water bill that has not passed more than 3 months ago).
3- A valid license for the old and deteriorated car, which must be replaced and renewed.
Financing conditions for taxis and minibuses
1 – The applicant’s age must not be less than 21 years old or older than 55 years old.
2 – The applicant must have a valid third class driver’s license as a minimum.
3- The applicant’s commitment to present a certificate of performance of military service or to be exempt from it.
4 – You should not have been convicted of a felony, crime or punishment restricting freedom for a crime that involves dishonor, unless you have been rehabilitated.
5 – That the applicants agree to pay the amount owed for the car in accordance with the payment conditions.
6 – It is not proven that the applicants have consumed drugs of any kind, by signing a medical examination with the authority determined by the Ministry of Health.
7 – The payback period is up to 120 months, including a maximum grace period of 3 months.
Required documents:
1 – Copy of the DNI of the beneficiary and the guarantor
2 – Present documents that prove the residence of the beneficiary and the guarantor, (lease-property contract – electricity, telephone or water bill that did not pass more than 3 months ago).
3- A valid license for the old and deteriorated car, which must be replaced and renewed.
