Azerbaijan, Baku, 11 November / Trend , corr. U.Ismayilova /A delegation of the World Bank (WB) headed by Gavin Adlington, the coordinator of the project, get familiarized with implementation of the 'Real property registration' project by the Azerbaijani State Real Property Management Service.
WB mission visited Baku and examined the process in April.
At the meeting, Arif Garashov, the head of the State Service, touched about the works implemented in this direction. All measures are taken to accelerate the process and complete it to the fixed date, Garashov said.
Shahin Panahov, the senior manager of the project, delivered a report on carried out works. "The State Real Property Management Service and State Committee of Land and Cartography stood as the executive agencies of the program in order to support the real property market and form an efficient registration system.
The Azerbaijani Government and WB had signed an agreement to jointly introduce a single cadastre real estate system in July 2007. The project comprises of four constituents, real estate registration, management and register of state property, base cartography and land cadastre, formation of policy and project management. The cost of the project is estimated at $38.57mln, with a $30mln WB share. Credit resources were allocated for a term of 20 years with privileged 5 years.
In June, Azerbaijan signed a memorandum with the German KfW development bank on interaction to allocate loans and introduce the one real property registration system. The project envisages conduct of systematic cadastral account (in pilot Ganja and Shaki cities in the first stage) to register lands and real estate. The exact coordinates based on the geodesic studies will be included in the cadastre map. The exact coordinates based on the geodesic studies will be included in the cadastre map. The realization of the basic phase of KfW peoject will last 30 months. German bank is ready to grant €2.5mln and €1mln for the institutionalization of the organization of the beneficiary
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