Description:

The cabinet in Cyprus has approved a new €2 million scrappage scheme for old cars over 15 years old.
 

There will be a maximum €1,000 offered of each vehicle taken off the road.
 

The proposal which still requires parliamentary approval is seen as an incentive for motorists to trade in their old vehicles and buy eco-friendly vehicles.
 

It will also help to stimulate a depressed car market and aims to get around 1,000 old vehicles withdrawn from circulation.
  
  

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