Under the slogan "Go Green"

11/01/2021

Under the slogan "Go Green"
The United Bank launches financing the conversion of cars to operate with natural gas

Ashraf El Kady: Chairman of The United Bank
•    3 axes to maximize the citizen's benefit from the initiative and the gains from economic reform.
•    Banks are working on a national agenda to attract different segments of the society and increase the financial inclusion base.
•    Transforming societal culture towards the clean energy uses requires concerted efforts of the state and the media with the financial institutions and the civil society.
•    The United Bank launches a product to convert cars to operate with natural gas, with the expectations of the great demand.
•    Digital financial applications maximize the chances of a car finance product spread to work with natural gas.
•    An overview of the project to convert cars to operate with natural gas.

Cairo: January 4, 2021

Under the slogan "Go Green", The United Bank launched financial product to convert cars to operate with natural gas.   On the sidelines of the first exhibition of technology for converting and replacing vehicles to operate with clean energy “Go Green”, which was held from 4-6 January 2021 under the patronage of the President of the Republic and with the coordination of the Ministry of Trade and Industry and The Central Bank of Egypt and a number of relevant ministries.

The Central Bank of Egypt has allocated 15 billion Egyptian pounds to the initiative to replace vehicles and convert cars to operate with dual fuel. This is to support the state to achieve the goals of sustainable development and support the citizen.

Axes for the citizen to benefit from the presidential initiative and the gains from economic reform
In response, Ashraf El Kady - Chairman of The United Bank says that the initiative aims to maximize the benefit of the Egyptian citizen from the gains of economic reform on 3 main axes:

The first axis: Maximizing the use of natural gas as an alternative fuel for diesel and gasoline. This would achieve great economical and material savings in the general budget of the Egyptian state. It contributes in directing this savings to support the sectors of health, education and scientific research to advance the system of services provided to the Egyptian citizen and improve his life.

The second axis: eliminating pollution and harmful environmental emissions that affect the health of the citizen and the surrounding environment from the effects of using the fuels.

The third axis: achieving the maximum benefit from the product