51 thousand cars are friendly to the streets of Egypt.. the success story of green transformation

51 thousand cars are friendly to the streets of Egypt.. the success story of green transformation
51 thousand cars are friendly to the streets of Egypt.. the success story of green transformation
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Updated Tuesday 1/24/2023 01:31 PM Abu Dhabi time

Egypt managed to convert 51,000 cars to run on natural gas during the past year, as part of the country’s plan to shift to clean energy.

Basil Rahmi, CEO of the Small and Medium Enterprises Development Authority in Egypt, revealed that the national program for converting cars to run on natural gas ended, during the past year, financing the conversion of more than 51,000 cars to run on natural gas.

He added that the cost of converting cars amounted to a total value of about 400 million pounds, in addition to contributing to transforming the cities of Luxor, Hurghada and Sharm El-Sheikh into completely green cities, and converting 1,300 cars in them to run on natural gas.

Rahmi continued: The plan aims to activate the Enterprise Development Law, support emerging companies and green economy projects, as well as increase exports of green projects.

Since the beginning of 2021, the Egyptian government has launched the national project to replace old vehicles and convert cars to run on natural gas within the framework of the green transition to preserve the environment. which are less than 20 years old to operate on natural gas.

The government has established facilities to support citizens to enter the initiative, including payment facilities for a period of up to 10 years, which represents the longest period in the history of car installments in Egypt, in contrast to the existence of an incentive in exchange for transferring the car with varying amounts according to the type of car and it is called the green incentive.

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At the beginning of the launch of the initiative, the project was targeting taxis, but Egyptian President Abdel Fattah El-Sisi directed that private cars be included in the project to replace them and run on gas, while providing a green incentive.

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The plan aims to convert 1.8 million cars to run on natural gas to reduce dependence on gasoline as an energy polluting the environment, in contrast to its high cost with the rise in global oil prices.

Last November, Egypt hosted the Climate Summit No. 27, during which it was able to mobilize international efforts for green transformation, and the Egyptian government completed a national strategy for green transformation that included about 26 priority projects that form a framework towards green transformation in the water, food and energy sectors.

Egypt is targeting green projects at a total cost of $14.7 billion, ranging from a huge project in the energy sector, 5 food security projects, 3 water security projects, and $10 billion in the energy sector.

During the climate summit, the German government announced the provision of financing worth 10 million euros in the form of a debt swap, and 5 million euros in financing the energy axis. The Novi program launched by the Egyptian government to support the green transition was able to collect soft development funds amounting to $10.3 billion.

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