In the presence of the Prime Minister of Republic of Srpska Savo Minić an agreement on the transfer of funds and obligations for the implementation of the project to improve geospatial infrastructure and assess the value of real estate was signed in Banja Luka today.

The agreement, signed by the Minister of Finance and Treasury in the Council of Ministers Srđan Amidžić and the Minister of Finance of Republic of  Srpska Zora Vidović was financed with a loan from the International Bank for Reconstruction and Development.

The total value of the project for the Republic of Srpska is EUR 35.2 million or around BAM 68.8 million and the deadline for implementation is 30 January 2032.

One of the most significant results of the project will be the establishment of a system for a massive real estate evaluation and a comprehensive real estate registry. In this way, the Republic of Srpska will receive a single and modern database that will enable a high-quality, up-to-date and interconnected real estate data to be found in one place.

“This is of great value for the Republic of Srpska. With the implementation of this project, the Republic of Srpska will have its own records of all real estate, so that we can know at any time the area, form, purpose and value of a plot with a building built on that plot, so that we can function more easily in terms of more efficient service to our citizens”, Prime Minister Minić said and emphasized that the Republic of Srpska is the owner of this data.

Prime Minister Minić further stated that this was a major prerequisite for the establishment of a central archive that the Republic of Srpska would have as well as for the creation of a social map of the Republic of Srpska.

“The implementation of this project under favorable terms from the international financial institutions shows that the Republic of Srpska has a future in implementing large projects, that it is solvent, credible and not too indebted”, Prime Minister Minić said having added that such arrangements strengthen the institutional capacity of the Republic of Srpska and would also “close the mouths of all those who want to diminish the implementation of this project.”

The Prime Minister emphasized that it was particularly important that during the implementation of this project, the plan was to engage around 1,000 young people on various grounds – in the field census, data collection and verification, quality control, technical and professional support, as well as other tasks necessary for the implementation of project activities.