WB mission launches review of real estate registration project in Azerbaijan
Azerbaijan, Baku, Nov.8 / Trend, N.Ismayilova /
The World Bank (WB) mission on real estate registration project headed by Gavin Adlington started the review of the project, the WB Baku Office said on Monday.
According to the information, the mission will stay in the country by Nov.14.
The Azerbaijani government and WB signed an agreement on the joint introduction of a unified cadastre of real estate in July 2007. The project consists of four components: registration of property, management and register of state property, base cartography and land cadastre, trainings, forming of policy and management of project.
The system of registration of real estate transactions will be automated in each registration office. The project will cover 21 offices of the State Real Estate Register Service and the 60 offices of the Azerbaijani State Committee for Property Affairs.
Cost of the project hits $38.57 million; $30 million falls on loan of WB. The rest part will be paid by the Azerbaijani government. Loan resources were allocated for 20 years under 5-year preferential period.