Grant for petrolpowered motorbikes deemed success as budget is fully allocated

A grant for petrol-powered motorcycles which was intended to promote the use of less polluting vehicles has been fully allocated, Transport Malta said in a statement.

The authority said that the first-come first-served scheme was a success as the funds allocated for it were completely used.

The scheme, which provided financial incentives for individuals to buy petrol-powered motorcycles, has now used up both the initially allocated €1.3 million and a further allocated €2.9 million.

Transport Malta said that a total of 2,760 applications were processed, and the scheme has proven to be very popular among citizens who are keen to reduce their carbon footprint while also enjoying the benefits of a more economical mode of transport.

“The Grant for petrol-powered motorcycles is an excellent example of how incentives can encourage citizens to make conscious decisions in favour of the environment,” the authority said.

Transport Malta encouraged everyone to take advantage of similar schemes, including other schemes currently being offered by them.

Apart from the schemes mentioned above being offered by Transport Malta, the Government has launched other schemes, together with the Bank of Valletta and the APS Bank, which offers loans with an interest rate of 0% for those who will take a loan to invest in an electric or hybrid vehicle and initiatives promoting energy efficiency and the use of renewable energy.

The Authority reminded all potential buyers that all the other schemes launched a few months ago are still available for the general public.