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  Friday, July 19, 2019
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In 2005 the World Bank will extend a $100 million loan to Russia
In 2005 the World Bank will extend a $100 million loan to Russia to work out a single real estate cadastre, head of the Federal Real Estate Cadastre Agency (Rosnedvizhimost) Mikhail Mishustin said speaking at the enlarged meeting of the Agency's Board on Tuesday. "I hope than the agreement on the loan between Russia and the World Bank will be signed in January-February," Mr. Mishustin said. According to him, the agreement will provide for respective co-financing on the part of Russia. "The prime aim of the agreement is to set up a single real estate cadastre," the head of Rosnedvizhimost went on to say. A single state register of land already exists but it is necessary to make it electronic in order to integrate it in the single cadastre system which is being established, and to subsequently transfer it into the tax bodies, Mr. Mishustin said. He recalled that, beginning from 2006, a land tax would be levied in Russia at the rate of 1.5% of the cadastre value of a land plot. The cadastre evaluation of land plots in Russia has already been completed, but not in all Federation entities the local authorities have approved it. As Mr. Mishustin said, pilot projects for exchange of information among the registering bodies, land cadastre chambers, technical inventory bureaus and tax bodies are now being introduced in some regions within the Electronic Russia federal special-purpose program. It is planned that in the next few years these information resources will be integrated nationwide. The Rosnedvizhimost head also said that a federal special-purpose program, named Creating Single Real Estate Cadastre, for 2006-2010 will also be prepared
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