The World Bank credits the improvement of land administration in Serbia with EUR 30 million

The Board of Executive Directors of the World Bank today approved a loan of EUR 30 million for the Second Land Administration Improvement Project, which will assist Serbia with improving the transparency, accessibility and reliability of the real estate management system.

- In the previous period, there was a significant improvement in the quality of the real estate sector in Serbia, and the activities supported by this project will rely on the already achieved results in order to provide more reliable, accessible and transparent data and improve the implementation of the mass value assessment of all real estate categories - the announcement by the World Bank states.

As explained, the project will also provide assistance to the digital transformation of the Republic Geodetic Authority (RGZ), the institution in charge of key activities such as the state survey, management of the real estate cadastre and assessment of the value of real estate in Serbia.

- In addition to improving the real estate management system, this project will also provide support for solving climate change issues and preventing disaster risks by strengthening the capacity of state institutions to recognize areas vulnerable to floods, droughts and extreme heat - said the director of the World Bank office in Serbia Nikola Pontara.

He added that the project contributes to improving the quality of data on property ownership, whereby special attention will be paid to property owned by women so that they can more easily access credit markets and participate fully in the Serbian economy.

- Mass assessment of the real estate value will bring benefits to both citizens and businessmen, and greater transparency of property ownership records can encourage activity on the real estate market and lead to a reduction in risk premiums - the World Bank statement emphasizes.

Also, the project is aimed at improving data and systems related to climate change, which can help state authorities better prepare for responding to extreme weather and natural disasters.

Svetska Banka-WB Beograd

Republički geodetski zavod Beograd

World Bank

Republic Geodetic Authority

RGZ

Nikola Pontara

Second Land Administration Improvement Project in Serbia

digital transformation of RGZ