Azerbaijan, Baku / corr Trend I.Khalilova / Azerbaijani experts returned from Tbilisi where they became familiar with the experience of the establishment of a unified real estate registration and cadastre system through the assistance of the German Bank for Development KfW, Natik Abdullayev, Head of the Baku Office of KfW said.
German specialists think Georgia has good experience in a similar sphere and the most efficient cadastre and real estate registration system has been in established in Georgia compared to other newly independent states.
Abdullayev said that work over the project jointly with KfW specialists will continue in Baku by the end of the week.
The German Development Bank - KFW has plans to send a consultant to Azerbaijan to design a single real estate and cadastre registration system as a supplement to a similar project of the World Bank (WB).
The KfW plans to establish a real estate registration system in Ganja or Sheki, or possibly in both cities. The issue will be considered during negotiations with the Azerbaijani Government, WB, and the German Government. The possibility to increase financing is not ruled out, but the financial agreement submitted to the Government stipulates an earlier determined amount.
The KfW is ready to allocate a privileged credit in the sum of €2.5mln for establishment of a cadastre and a grant in the sum of €1mln for institutionalization of a beneficiary organization, at the expense of the funds.
The cost of the WB project on registration of real estate in Azerbaijan makes up $38.57mln, with $30mln allocated by the bank as a loan.
Establishment of the cadastre will presumably be completed within five years. As a result, all facilities will be put on a map and a satellite system will be established for the management in real-time.
A digital map covering the area of 50,000sq m was established through a grant from Japan in the amount of $3.2mln.