Azernews.Az

The implementation of the World Bank project on real estate registration in Azerbaijan has been extended until the end of 2014, project director Gavin Adlington told journalists.

Previously the completion of the project was planned for the end of 2013.

Adlington said that as a result of intensive efforts such as introducing IT systems and digital cadastral maps, the project is to be completed within five years.

He said the main issue for the timely implementation of the project is document automation at the State Committee on Land and Mapping, but "we are still optimistic".

A management strategy regarding illegally constructed buildings has also been developed in the project framework and this process will be overseen by Azerbaijan's government, the WB representative said.

In July 2007, the Azerbaijani government and the World Bank signed a memorandum on co-administration of a single real estate cadaster in the country.

The project consists of four components: registration of real estate; administration and register of state property; basic cartography and land cadaster; trainings, policy forming and project administration. The project costs $38.57 million, with $30 million funded by WB lending. The credit funds were allocated for a period of 20 years with a grace period of five years.