Finance Minister: Inclusion of 5 new governorates in the presidential initiative to replace vehicles

Minister of Finance
Fathi Al-Sayeh

The private sector is an authentic partner in the success of “vehicle replacement” and achieving the goals

Chairman of the Board of Directors of the Vehicle Substitution Fund” at the Ministry of Finance:

Coordination begins to locate scrap yards in the new governorates

(Allocating more than 24 thousand modern cars in exchange for scrapping old cars.. We received more than 42 thousand and 200 requests to join the initiative.

Minister of Finance, Dr. Mohamed Maait, confirmed that we are continuing to expand the base of beneficiaries with the presidential initiative to replace obsolete vehicles that have been manufactured. 20 years or more, using new cars powered by natural gas, in implementation of presidential mandates to maximize efforts to transform the green economy. It coincided with hosting the Climate Summit in Sharm El Sheikh, explaining that the governorates of Ismailia, Sharqiya, Beheira, Beni Suef and Sohag were included in the presidential initiative to replace vehicles; In a manner conducive to facilitating citizens’ ownership of “Model of the Year” cars that are economically saving and environmentally friendly, through large credit facilities, and in line with the sustainable development goals and “Egypt Vision 2030”.
The minister added that the state’s public treasury bore more than 590 million pounds, the value of the “green stimulus,” from which more than 24 thousand benefited. Citizen so far through his participation in the presidential initiative to replace vehicles and they received new cars; In a way that contributes to reducing air pollution, reducing harmful carbon emissions and reducing traffic congestion as a result of the frequent breakdowns of old cars, as well as reducing pressure on fuel consumption by replacing it with natural gas, pointing out that the private sector is an authentic partner in the success of the presidential initiative to replace vehicles and achieve their targets, in a way that helps move the wheel of the economy and create more job opportunities. First Assistant Minister Amjad Munir, Chairman of the Board of Directors of the Vehicle Replacement Fund, said that coordination is underway with the new governorates, as the initiative management team was assigned to cooperate with specialists in these governorates to inspect the proposed old car collection yards to ensure From meeting the technical and environmental conditions that must be available in the old car collection yards, and starting preparations for training workers in the governorates, car collection yards, traffic and bank branches, where 31 banks and about 500 of their branches participate in the initiative.
He added that 24,000 old cars between “my owners” and “Taxes” were scrapped. The number of requests that fulfilled the conditions reached more than 42,000 requests on the initiative’s website, explaining that there is continuous coordination with representatives of car companies, to work on facilitating the procedures for delivering new cars to beneficiaries of the initiative to replace obsolete vehicles, pointing out that the conditions of Submission to the initiative includes that the old car has been manufactured for 20 years, a taxi license in the name of the applicant at the time of participation in the initiative, and a car license in the name of the applicant for at least two years at the time of subscription.
Ahmed Hussein, the official spokesman for the Vehicle Replacement Initiative at the Ministry of Finance, explained that the initiative’s management is working on an ongoing basis to follow up on the requests’ procedures. On its website, by entering the initiative’s website: “”, registering its data and participating in the initiative, stressing that the software update of the initiative’s electronic platform has been completed to enable citizens of the five new governorates to participate in the initiative, in coordination with various The concerned authorities, and it will be made available to citizens to participate as soon as the governorates end, etc. The new Miss will prepare the yards for collecting old cars, stressing that the initiative will be launched in the five new governorates with the same conditions in force in the governorates of Cairo, Giza, Qalyubia, Alexandria, Port Said, Suez, the Red Sea, Luxor, Aswan and Sharm El-Sheikh.