CAIRO – 12 July 2020: Egypt's President Abdel-Fattah El-Sisi directed banks to provide facilities to citizens within an initiative to replace old cars with gas-powered vehicles.
"The facilities must extend to include other parallel initiatives, including the provision of loans with very easy interest rate, even if it is zero percent,” Sisi added Sunday during the opening of a number of national projects.
"We have the right, as a country, to license gas-powered cars only and to stop licensing new cars that run on gasoline," He added.
Sisi noted that those are the state plans and they should be clarified to the people.
Moreover, Sisi called on Finance Minister Mohamed Ma’it to facilitate procedures for converting old cars to run on natural gas.
President El-Sisi told Minister of Finance that the government has to help people to convert their cars into natural gas, pointing to a zero-interest rate initiative. “... We must do more than that to help people according to specific programs.”
President Abdel Fatah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums.
Sun, Jul. 12, 2020
