The initiative offers a sum of EGP 15 billion with an interest rate estimated at 3 percent in light of President Abdel Fattah El Sisi’s directives, the CBE said in a press release.

The initiative aims to encourage citizens to use dual-fuel vehicles through providing the financing required at low-interest rates, the CBE said.

It added that the payment period shall range from 7 to 10 years.