The World Bank will provide Moldova with $35 million to improve the quality and transparency of land administration and real estate valuation systems
The corresponding decision on financing the project "Land Registration and Property Valuation" was approved by the World Bank Board of Directors. The implementation of the project will provide increased protection of property rights of citizens, local and foreign investors, government institutions and agencies, and will also stimulate the development of the real estate market. According to the WB press release, increasing the integrity, transparency and efficiency of the cadastral system and conducting real estate valuation are priority areas of the World Bank Group in providing assistance to develop and ensure the growth of the Moldovan economy. "The Land Registration and Property Valuation project will ensure the continuity of our previous work on mass registration of property in Moldova over the years," said World Bank Director for Moldova Anna Akhalkatsi, noting that the WB intends to help citizens obtain equal rights and clear rules in the field of property rights, which are the basis of a competitive economy. The project will allow the country's authorities to conduct mass assessment and registration at the national level without direct costs for citizens and the business environment. It will also help strengthen the rule of law and increase the responsibility of institutions - security of property rights will be ensured, transparency of data on immovable property will be improved, and the effectiveness of the cadastral system will be ensured. Let us recall that Moldova joined the World Bank Group in 1992, since then, more than $1 billion has been allocated for the implementation of about 60 projects. Currently, the WB portfolio includes 10 projects; the total amount of liabilities is $357.9 million. The areas of support concern regulatory reform, business development, education, e-government, health, agriculture, local roads, the environment etc. //03/09.2018 - InfoMarket.