CAIRO – 14 July 2020: Minister of Finance Mohamed Ma’it reviewed Monday night the most important details of launching the consumption guarantee and stimulus fund. Egypt's Sisi calls for new initiative to replace old cars with gas-powered vehicles CAIRO - 12 July 2020: President Abdel-Fattah El-Sisi directed banks to provide facilities to citizens within an initiative to replace old cars with gas-powered vehicles. The minister said that the fund will have a role in the initiatives that the country will launch later in the framework of encouraging consumption of capital goods and so on. He pointed out that the fund may participate in bearing the costs of interest rate with the citizen according to the state’s strategy. This reduces the pollution rates released by the car and the exhaust emissions from it, and the citizen is not able to replace it because of his financial conditions, “Finance Minister clarified.

Source: Egypt Today July 14, 2020 14:15 UTC