WASHINGTON, October 25, 2012 – The World Bank’s Board of Executive Directors today approved a credit in the amount of US$34.1 million for the Bosnia and Herzegovina (BH) Real Estate Registration Project (RERP). The project aims to support the development of a sustainable real estate registration system with harmonized land register and cadastre records in urban areas of Bosnia and Herzegovina. Over 40 percent of the population is expected to benefit from the increased security of ownership and the improved access to land and credit.
The RERP and its predecessor, the Land Registration Project (2007 -2012), are part of a programmatic approach towards supporting a well-functioning land administration system in BH by 2016. The RERP will support this goal with a focus on the scaling up of cadastre activities and on the sustainability of the land registration and cadastre institutions.
“The society overall will benefit from improved land governance supported by the up-to-date and accessible spatial information on real estate and on their transactions, which will increase accountability and informed decision and policy making concerning land, real estate, and natural resources,” said Anabela Abreu, World Bank Country Manager for BH.
The RERP will update cadastre records (maps and records of land parcels and built property), harmonize data between cadastre and land registers, and improve working conditions and processes in cadastre and land register offices.
The World Bank portfolio of active projects in BH now includes 11 operations totaling approximately US$420.4 million. Areas of support include agriculture, energy, environment, health, social safety and employment, local infrastructure, and private sector development.