Azerbaijan, Baku, Feb. 3/ Trend U. Ismaylova/
The Azerbaijan's Real Estate Register State Service of signed an agreement with KfW German Development Bank about financing of conception phase preparation and tender specialists within the framework of Cadastre and Register of Real Estate project, the State Service said on Feb. 3.
The bank allocated the state service grant in the amount of 450,000 euro for these purposes, Natiq Abdullayev, head of KfW Baku office, said on Feb. 3.
The technical assistance will continue for 18 months. Within its framework the private sector is expected to be attracted for geodetic operations. Later it will be used while creating of a map within the framework of the project.
The amount of financing by KfW will be determined after preparation of the project base.
First, German Bank was willing to give lax credit in the amount of 2.5 million euro and grant in the amount of 1 million euro to institute an organization - beneficiary.
The project stipulates systematic cadastral registration in Ganja and Sheki regions to register land plots and real estate. Their exact coordinates will be indicated on cadastral map on the basis of geodesic research.
The project on real estate registration will differ from similar one of WB. Its realization has already begun by conducting geodesic research and specifying of all land plots coordinates and real estate.
Upon WB project, registration will cover 40 percent of Azerbaijani territory. It will be carried out from time to time by their sale or purchase.
The cost of WB project on real estate registration in Azerbaijan totals $38.57 million, of which $30 million fell on the bank loan.
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