WB monitors registration of real estate in Azerbaijan
Experts of the World Bank (WB) have arrived in Baku to monitor realization of the project on registration of real estate in Azerbaijan, the State Committee for Property says, Trend reports.
Azerbaijan and the WB signed an agreement on establishment of a single registry for real estate in July 2007.
The project consists of four components – registration of real estate, management and registration of state property, basic cartography and land registry, trainings and formation of state policy. The project is worth $38.57 million, $30 million of the sum were provided as a loan from the WB for 20 years with a beneficial period of 5 years.
The WB mission is headed by Malcolm Childers. Simon Kaze, expert for management and evaluation of property, and Rumuan Tanchovsk, expert for information technologies, are part of the mission. They will continue work until May 20.