The Central Bank of Egypt announced the launch of the initiative to replace vehicles, convert cars, to work with dual fuel, through which an amount of 15 billion pounds is made available through banks at a return rate of 3%. Double.
The “seventh day” publishes the text of the initiative’s instructions.
The Central Bank of Egypt affirmed that the initiative comes as part of its support for the state to achieve sustainable development goals, which include taking into account the environmental and social elements, and in light of the state’s intention to replace fuel-powered vehicles and replace them with those that operate on dual fuels, and urging citizens to take this step by providing the required financing Low interest rates.
The Central Bank indicated that the loan period within the initiative ranges from 7 to 10 years, and the repayment is made in equal monthly installments, and that it will compensate the banks for the interest rate difference on the basis of the following: The credit and discount rate (currently 8.75%) + 2% – 3% (Lump sum).
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