The funds are intended for the implementation of the Geospatial Infrastructure and Valuation Enhancement (GIVE) project, which aims to address key land administration challenges in the entity by establishing spatial data infrastructure, developing building registers, and refining real estate valuation methods, the World Bank said in a statement on Thursday.
The project is expected to improve geospatial dataset interoperability and harmonise land records, contributing to a better business environment, urban planning, and risk assessments for a more sustainable, resilient future, the global lender said.
The Federation is one of two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
($ = 0.921 euro)