Moldovan citizens, local and foreign investors, government institutions and agencies will benefit from enhanced security of property rights and more developed real estate markets in the Republic of Moldova thanks to a US$ 35 million loan for the Land Registration and Property Valuation Project (LRIP), approved by the World Bank’s Board of Executive Directors on August 30, IPN reports, quoting a press release of the WB.

“The Land Registration and Property Valuation project will ensure the continuity of our previous work on mass registration of property in Moldova over the years,” said Anna Akhalkatsi, World Bank Country Manager for Moldova. “Economic and service governance are central to our Partnership Framework in Moldova, as we seek to help all citizens to enjoy equal opportunities and clear rules regarding property rights which are fundamental for a competitive economy”.

Since Moldova joined the World Bank Group in 1992, over US$ 1 billion has been allocated to approximately 60 projects in the country. Currently, the World Bank portfolio includes 10 active projects with a total commitment of US$ 357.9 million.

The International Finance Corporation’s committed portfolio in Moldova is US$ 17.5 million, and consists of 87% loans and 13% equity. Its committed portfolio consists of 95% loans and 5% equity. The Multilateral Investment Guarantee Agency has provided guarantees totaling US$ 95 million. Both institutions are members of the World Bank Group.