USD2MN GRANTED BY NETHERLANDS FOR THE BULGARIAN REAL ESTATE MARKET
The Dutch Government granted USD2MN to support the financing of the World Bank for creating a cadaster and a real estate register in Bulgaria. The grant agreement was signed by Deputy Premier and Minister of Regional Development and Public Works Kostadin Paskalev and the World Bank resident representative in Bulgaria Oscar de Bruyn Kops.The World Bank's project, worth a total of EUR33.5MN ws launched in November 2001. It aims at building a unified system of registration and cadastre in bulgaria, which will facilitate the access of citizens and companies to information about deals in the real estate buisness. The money, granted by Holland, will spent on creating a better legal framework for the real estate in Bulgaria, including a mortgage system and legal advice to people in inferior social position. I'm glad that the money will help the population in rural areas of the country, whose situation is particularly difficult, the Dutch Foreign Minister Jozias van Aartsen said.