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WB monitors real estate registration project in Azerbaijan

Business Materials 19 May 2011 17:12
A World Bank expert mission arrived in Baku to monitor a real estate registration project, the State Property Committee said.
WB monitors real estate registration project in Azerbaijan

Azerbaijan, Baku, May 19 / Trend A. Akhundov /

A World Bank expert mission arrived in Baku to monitor a real estate registration project, the State Property Committee said.

The government and the WB signed an agreement on the joint introduction of a unified real estate cadastre in July 2007.
The project consists of four components: property, management and state property registration, base cartography and land cadastre, trainings, and forming project policy and management.

The project costs $38.57 million, and $30 million falls on loan of WB.
The rest will be paid by the Azerbaijani government. Loan resources were allocated for 20 years under 5-year preferential period.

The visit of the mission, including the WB project team leader Malcolm Jansen, expert on management and asset valuation Simon Case and expert on information technology Rumana Tanchovska, will last until May 20.

The mission has already studied the digital cadastral map preparation and IT systems and training for employees.

The WB experts also held meetings at the State Committee and the regional offices of the Committee in Shamakhi.

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