SWEDEN ALLOCATES ANOTHER $1 MILLION FOR REAL PROPERTY CADASTRE AGENCY

YEREVAN, APRIL 11, ARMENPRESS: An Armenian government committee for real property cadastre and a Swedish agency Swed-Survey have sealed an agreement in Yerevan today to jointly implement the second stage of a program for development of real property cadastre system in Armenia. The Swedish International Development Agency (SIDA) has pledged a $1 million grant to the Armenian government to accomplish the project.

According to the rubber-stamped agreement, the project implementation will run from 2003 to 2006. The first stage of the program was launched in 1999 and completed last year, backed by a $600,000 grant.

The second stage of the program involves developing of the geodesic network of Armenia by means of most advanced technologies, consolidation of land and introduction of new methods for evaluation of real property. The project also includes retraining courses for relevant Armenian specialists.

The successful implementation of the first stage has significantly reduced duration of some operations and facilitated reception and exchange of information between interested parties. Real property registration takes now one day only instead of weeks previously.

"The entire work is aimed at the acknowledgment and ensuring of property ownership right, raising the people's awareness about their rights and obligations with the ultimate goal of stabilization and development of real property market ," chairman of real property committee Manuk Vardanian said today after the signing ceremony. He said similar work is being implemented with the assistance of the EU, and World Bank.