KfW gives grant to implement real property registration project in Azerbaijan

Azerbaijan, Baku, Feb. 2 / Trend , I.Khalilova /

German KfW Development Bank has allocated to Azerbaijan 450,000 euros grant to implement the project to create a unified system of real estate and inventory registration of, said KfW Baku office head Natik Abdullaev on Feb. 2.

"Today, we sent a grant agreement to the State Property Registration Service of Azerbaijan for signing," said Abdullayev.

Under the order dated December 29, the authority to sign an agreement provided was given to Arif Garashev, head of the State Property Registration Service.

Under the November decision on the additional activities on the basis of the concept phase, it is determined whether the program could become a complementary KfW World Bank project in cadastre.

The technical assistance of the bank is calculated for 18 months and the private sector to be attracted for land measuring, which later will participate in designing of maps of the project. The sum of KfW financing will be determined after the basis of the project is developed. Initially, KfW has expressed willingness to provide concessional credit for 2.5 million euros and a grant of one million euros for institutionalization of the organization - the beneficiary

In January 2008, the bank signed a protocol on mutual understanding with the State Property Registration Service of Azerbaijan.

The project involves a systematic cadastre in Ganja city and Sheki region for registration of land plots and real estate. The exact coordinates of their geodesic-based studies will be carried over to the cadastral map.

The project of registration of state property will be different from similar World Bank project, which has already started to research and refinement of geodetic coordinates of all land and real estate. While in the WB, for which registration will be held, covering 40 percent of the entire territory of Azerbaijan, it will be conducted from time to time - at the time of sale or purchase them. The cost of the WB project to register state property in Azerbaijan was 38.57 million dollars, of which the share of bank credit accounted for 30 million dollars.

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