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Kazakhstan: World Bank Loan For Pilot Real Estate Project

  • Robert Lyle

Washington, April 4, 1997 (RFE/RL) - The World Bank has agreed to lend Kazakhstan $ 10 million to conduct a test project for a unified real estate registration system.

In the regions of Almaty and Aqmola, including Almaty city, the pilot project will include the use of digital maps and other land survey techniques to improve the accuracy of information on registered land, the establishment of real estate registration offices in regional justice ministry offices and the testing of operational procedures and forms for documentation and registration.

The bank says the aim is to increase security for ownership rights of land and real estate, improved land transactions and encouraging the development of the private sector.

The bank loan will cover 75 percent of the cost of the project, with the rest to be financed by the government of Kazakhstan.