News in English     | 02.07.2020. 12:49 |

World Bank secures 20m euros loan for land registry harmonization project in BiH

FENA Press release

SARAJEVO, July 2 (FENA) - Deputy Chairman of the Council of Ministers of Bosnia and Herzegovina, Minister of Finance and Treasury Vjekoslav Bevanda, signed today with the Head of the World Bank Office in BiH Emanuel Salinas a loan agreement for additional financing of real estate registration project in the amount of EUR 20 million.

As announced by the Ministry of Finance and Treasury of BiH, the signatories agreed that this is an extremely important project which continues the process of harmonization of land registers and cadastral data in both entities and that the loan conditions are favorable.

According to the signed agreement, the Federation of BiH will be allocated around 7.2 million euros, and the Republika Srpska around 12.8 million euros. The repayment period is 23 years including a seven-year grace period and a favorable interest rate.

The main goal of the project is to provide support to a sustainable real estate registration system with harmonized records in land registers and cadasters in urban areas of the Federation of BiH and the entity of Republika Srpska.

The agreement was signed via correspondence, without the usual ceremonies, due to measures taken to prevent the spread of the Covid-19 epidemic.

(FENA) S. R.

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