World Bank offers Moldova loan of $35 million

Chisinau, 31 August /MOLDPRES/ – Moldova will improve the quality and transparency of land management and real estate property management systems, due to a loan of $35 million for project "The registration and assessment", endorsed by the Board of Directors of the World Bank (WB).

As a result of project implementation, citizens, local and foreign investors, state institutions and agencies in Moldova will benefit from the increased security of property rights and a more developed real estate market. The priorities of the World Bank Group in providing support are increasing the integrity, transparency and efficiency of the cadastre system and conducting real estate valuation.

"The land registration and land appraisal project will ensure the continuity of the previous massive registration of the real estate in Moldova over the years," said Country Director for Moldova at the World Bank, Anna Akhalkatsi.

According to a press release from the World Bank Office in Moldova, the project will allow authorities of Moldova to carry out national assessment and registration without direct costs for citizens and business environment.

Since Moldova joined the World Bank Group in 1992, over one billion USD have been allocated for about 60 operations. Currently, the WB portfolio includes 10 active projects, the total amount of commitments amounting to $357.9 million. Supporting domains include regulatory reform and business development, education, eGovernment, healthcare, agriculture, local roads, environment etc.

(Reporter N. Sandu, editor A. Raileanu)