Azerbaijan, Baku, 3 November / Trend corr. I.Khalilova / The World Bank (WB) is going to review realization of the project on real estate registration in Azerbaijan, which costs $38.57mln, the WB Baku Representation said.
The Bank mission will hold consultations with the State Service for Real Estate Registration and State Committee for management with state property under the head of project manager Hevin Adlington from 10 November to 17 November with this purpose.
The WB project covers all territory of Azerbaijan and all existing data on location of real estate and its right will be included in the united automatized system by the end of its realization.
Registration system with real estate deals will be automatized at every 21 registration offices. The project covers 21 offices of the State Service for Real Estate Registration and will cover 60 offices of the State Committee for property. The system will not include woodland, wetland and natural habitats.
The project includes four components: real estate registration; management and register of the State property; base cartography and land cadastre; trainings, formation of the policy and management of the project.
The WB loans finance about 78% of the project cost. The International Bank for Reconstruction and Development allocated $30mln for 20 years with a preferential period of 5 years.
The WB Board of Directors approved the project on 21 March in 2007.
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