Continuation of the reforms in the Macedonian Agency for Real Estate Cadastre with additional nine million euros-loan by the World Bank is envisaged under today’s signed Agreement between the World Bank and the Ministry of Finance for additional financing of the Real Estate Cadastre and Registration Project.
 
– The loan is extended under exceptionally favourable conditions, i.e. 25-year repayment period, including eight year-grace period and six-month Libor interest rate for euro currency with variable spread, amounting to 1.2 percents at the moment, Vice Prime Minister and Minister of Finance, Zoran Stavreski said after signing the Agreement with the World Bank Resident Representative Lilija Burunciuc.
 
This additional financing should support the digitization of existing cadastral maps and plans, as well as accessibility of this graphic information to citizens, private and public sector via Internet. It will also improve accuracy and efficiency of the survey by completing and upgrading the state geodetic reference network. Modernization of the working process in the Property and Legal Affairs Office within the Ministry of Finance is also envisaged, for the purpose of offering more efficient services to the citizens.
 
Vice Prime Minister Stavreski pointed out that the Government decided to extend the Project in the next three years as well, as a result of the achievements of its realization so far, which was also confirmed by the World Bank resident representative.
 
– So-far implementation of the Real Estate Cadastre and Registration Project, enable the Agency for Real Estate Cadastre to build its capacity for IT and service delivery. Real estate cadastre is established in 99 percents of the cadastre municipalities, and the number of registered sales and purchases, mortgagees and other transitions enormously increased in the last several years, pointing out to improvement of the efficiency in the cadastre operations. In addition, deadline for registration of sales and purchases shortened from 60 to five days, Stavreski said.
 
According to Burunciuc, Macedonia became leader in cadastre reforms in the region by implementing the Project, which as she pointed out, the country should be proud of. However, job is not finished and challenges still lie ahead, Burunciuc pointed out, explaining that the additional financial resources are focused thereon and they will contribute to digitizing the cadastral map. This will provide for exchange of data in easier and more accessible manner, and it will also help the Government in conducting real estate policy, i.e. it will contribute to better functioning of the real estate market.(MIA)
