WB TO PROVIDE FINANCING TO MOLDOVA FOR CONSOLIDATING LAND SYSTEM

The Government approved on Wednesday the ratification of the Financing Agreement between Moldova and the International Development Association (IDA) which is a part of the World Bank Group on providing 30.1 billion euros for implementing a project on land registration and assessment.

According to the Cabinet of Ministers, the financing will be directed to primary registration and assessment of the immoveable property, strengthening the project management and the land administration system.

The project implementation will improve the quality of state services, raise the institutions' responsibility and transparency of land administration system. After its implementation, the number of credit and leasing contracts on public lands is expected to grow.

At the same time, the project will be based on the current functioning of the Government and the World Bank on modernizing the tax administration and state services.