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WB Mission to issue land title acts and develop land surveying system started working in Ukraine
The Mission of World Bank on the project of issuance of state certificates for land title in rural areas and development of the land surveying system, which had arrived in Kiev on November 16 to assess the state of readiness of the project, started working on in the country Monday, Interfax-Ukraine news agency informed.
A spokesman for the WB Office told the news agency that the Bank's experts would be working in Ukraine till November 22 and would assess the quality of realisation of the preparative measures for the project, which were funded from the $1.4 million advance technical loan, granted to Ukraine in 2002, including preparation of pilot projects in five regions of the country. The WB experts will also assess the system of financial management of the project.
At the end of June the World Bank's Executive Board of Directors took a decision to grant Ukraine an $195.13 million credit for funding the project of issuance of state land title certificates in rural areas and development of land surveying system. Ukraine and the Bank signed the Credit Agreement on October 17. The project is to be ratified by parliament.
The pay-off period for the loan is 20 years, including a 5-year preferential period.
The aims of the project are creation in Ukraine of the state land surveying system and the system of land title registration, granting the land plots in rural areas to private persons on the basis of fair treatment, acknowledgement of citizens' land property rights by way of issuance to them of the state land title certificates, support of farm enterprises' reformation into more efficient business structures, preventive environmental and socio-economic measures.
The project was prepared by the State Committee of Ukraine for Land Resources and this committee will be responsible for its realisation. The funds of the loan will be used for financing the work of the project implementation group, consisting of specialists, based in Kiev, and regional offices in each of the oblasts and the AR of Crimea.
Since 1992 when Ukraine acquired a membership in WB, the Bank has funded 28 projects in the country for the total worth of more than $3.5 billion.