The International Development Association (IDA), which is part of the World Bank Group, will provide Moldova with 30.1 million euros to carry out the project on land registration and evaluation, signed on 17 September 2018. A draft law on the agreement’s ratification was approved at the today’s cabinet meeting.
The programme was worked out in line with the World Bank’s Moldova Country Partnership Framework for 2018-2021. Most of the assistance provided by IDA, 15.3 million euros, will be used for the primary registration of real estate; another five million euros will be spent for assessing the real estate. The land administration system will benefit from assistance worth five million euros to strengthen its capacities. Another means will be used to consolidate the project’s capacity and management.
The economic benefits of this project will be, to a great extent, determined by the registration of public and private lands, due to an enhancement of the access to credits and the value of leasing contracts for the concerned public lands. As for the private lands, the activity concerns, to a great extent, the rural lands and the economic benefits envisaged by the enhancement of access to credits.
The loan worth 30.1 million euros will be provided as investment project in concession conditions, for a 30-year repayment period, with a five-year grace period, and a yearly interest rate of 1.38 per cent.
The draft will be submitted to parliament for consideration and ratification.
