Value of a Component for State Property Committee Determined in Project on Registration of Immovable Property

Business Materials 10 February 2007 11:22 (UTC +04:00)

$4.8 mln are expected to be allocated on the improvement of the state property within the project on the registration of immovable property prepared by the World Bank (WB).

Trend reports referring to Karam Hassanov, the Chairman of the State Committee, that these funds will be sent to the improvement of the state property and management system and state property registration management system.

According to Mr. Hassanov, they will render assistance in preparing the digital data base and immovable property and lands schedule within the project.

Within the implementation of the WB project, particularly the introduction of the mechanism of effective management of state property, the returns of the state will increase.

With applying informational and communication technologies, the practice of modern administering will be formed.

The official negotiations on the project are expected to be held in Baku starting from February 15. On February 13-14, the final appraising of all components of the project and its total value will be conducted. According to the preliminary data, the project is estimated at $40 mln., with $30 mln. out of which is the WB credit.