WB to monitor project on cadastre creation in Azerbaijan

The World Bank (WB) mission, headed by the project manager Gavin P.Adlington will arrive in Azerbaijan for a review of the Real Estate Register project, the Baku Office of WB told Trend on Thursday.

The mission of the bank will stay in the country within December 1-5 in order to monitor the project realization. The WB has restructured project, currently some work that has to be accomplished through WB loan will be funded through the funds allocated by the state as a share in the project.These works also include creation of cadastral maps.

As a result of restructuring the project designed for 2008-2012, has been extended until 2014.
Within the WB mission project, meetings are planned at the Azerbaijani State Property Issues Committee.

The Government of Azerbaijan and the World Bank in July 2007, signed an agreement on the project of creating a unified system of real estate cadastre. The project consists of four components - registration of real estate, management and register of state property; basic cartography and cadastre, training, policy development and project management. Project cost is $ 38.57 million, of which the share of the WB loan accounts for $30 million. The credit was issued for 20 years with a grace period of five years.

As of today, Azerbaijan has spent $9.137 millions of the WB loan.


/Trend/