KfW to Discuss New Studies on Cadastre Establishment with Government of Azerbaijan

Business Materials 18 January 2008 18:57 (UTC +04:00)

Azerbaijan, Baku, 18 January /corr. Trend I.Khalilova / On 23 Jan, the German Development Bank - KFW's mission is expected to arrive in Baku to discuss with the government of Azerbaijan, the results of the studies held by the Bank within the project on a single real estate and cadastre registration system in Azerbaijan, the head of KFW's Baku office, Natig Abdullayev, reported on 18 January.

"The components will be devised for the project on the base of the studies, if the Azerbaijani side accepts the proposals of the KfW," Abdullayev said.

KFW have plans to establish a system of the real estate registration in Ganja and Sheki. KFW is ready to allocate a privileged loan totaling 2.5mln€ -for the establishment of the cadastre and a grant totaling 1mln€ -for the institutionalization of a beneficiary organization.

The cost of the WB project on registration of the 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 the next 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 regime.

A digital map was established by a grant from Japan, totalling $3.2mln