Azerbaijan, Baku, 30 March / corr. Trend U. Ismayilova/ The International Bank for Reconstruction and Development (IBRD) has recommended the State Real Estate Register Service of Azerbaijan to speed up the realization of Real Estate Registration project, the Service said on 30 March.
The realization of Real Estate Registration project was discussed on 28 March and Shain Panahov, Head of the management group on the project informed of the fulfillment of the items of the project and prospects of speeding it up during the discussions.
The Azerbaijani government and IBRD signed an agreement on joint application of the unified real estate cadastre in July 2008. The project consists of 4 components: management and register of the state property, baseline cartography and land cadastre, training, the formulation of the policy and the management of the project.
The project costs $38.57mln, $30mln of which accounts for the IBRD credit. The credit has been grated for 20 year period with a grace period of 5 years.
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