The World Bank agreed to the Azerbaijan governments proposal to separate the component over the real estate registration from the project on developing and crediting agriculture in Azerbaijan (the second phase), the government told Trend. The World Bank consultants have already commenced developing of the new project, meaning to set up the Cadastre. The works cost estimate will be completed in the first half year of 2006.
About $5-10 million have been projected within agricultural project for establishing the Land Register. The government thinks these funds are not sufficient for such complicated and large project, as for setting up such Register in Nakhcivan within the first phase of the agricultural project $3million have been spent, taking into account the population of 300,000 people resides in the Nakhchivan Autonomous Republic (NAR). It means some $15-20 will be required for implementation of the large-scale project, covering the entire country with its 8- million population.
Separation of the component for establishing the Cadastre will not affect the agricultural project cost estimate. The World Bank loan will be in the same volume as the first component - $30 million. Funding is performed in the framework of the adjusted program Agricultural development and crediting, for which implementation the bank will allocate totally $100 million.
In the framework of the negotiations held, the government of Azerbaijan and the World Bank came to the common accord on enhancing the loan component within the project second phase. As the first Vice Premier Abbas Abbasov told Trend, by preliminary data it will be increased to $5 million. Apart from this, taking into account the countrys demands the enterprises for storage of processing industry products, support of leasing will be preferred.
The projects approval at the Board of Directors is expected in the second half of 2006.
