Switzerland allots more funds for real estate registration in Azerbaijan
Swiss State Secretariat for Economic Affairs (SECO) has increased funding for the project on real estate registration in Azerbaijan, SECO's Baku office told Trend news agency Thursday.
SECO has approved about $700,000 for consulting services under the World Bank project, it said.
The WB is implementing the project jointly with the Azerbaijani government.
The Azerbaijani government and the WB have signed an agreement on the project, which envisions establishment of a single inventory of real estate. The project consists of four elements: registration of real estate; management and register of state property; basic cartography and land registry; trainings, policy and project management.
The project is estimated at $38.57 million, $30 million of which will be covered by a WB loan. The funds will be lent for the period of 20 years with a grace period of five years. SECO has allocated $500,000 to implement the project.
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