Preliminary Date of Official Negotiations with WB on a Project on Foundation of Cadastre in Azerbaijan Determined

Business Materials 15 December 2006 16:30 (UTC +04:00)

Official negotiations between the Azerbaijan Government and the World Bank on a credit agreement within the project on foundation of cadastre in the country are expected to be held in the beginning of February, 2007.

A source in the World Bank (WB) Baku Office told Trend that at present, the results of the estimation conducted by a WB mission headed Heyvin Adlington (a WB specialist on land administering are being calculated. The mission completed its work on December 13.

According to the preliminary data, the value of the project reduced to $2 mln. and it makes up $42 mln.

The shares of WB and the Azerbaijani Government will be finally agreed during the official negotiations. However, WB Baku does not rule that the volume of the WB credit might reach $30 mln.

The forthcoming WB credit might be approved during the sitting of the Board of WB to be held in March, 2007.

The WB project will cover all the system of registration in the country, however, some pilot projects will be within it as well.

The beneficiaries of the project are: the State Immovable Property Register within the Cabinet of Minister of the Country, State Committee on Land and Cartography, State Property Committee, and the Justice Ministry of the Country. The project envisages registration of property, preparation for the cadastre of maps, and strengthening the state property governance system.