Advanced Search

LatinNews Regional Monitor: Andean Group - 18 July 2019

In brief: US$100m WB loan for Colombia land title reform

* The Colombian government has signed a loan agreement with the World Bank (WB) for US$100m to update its cadastre system that will support the formalisation of property to more than 70,000 people, with special focus given to women, afro-Colombian, and indigenous communities. The WB director for Colombia and Venezuela, Ulrich Zachau, stated that when an individual obtains a property title, the value of the property can rise by up to 30%. With this cadastral update, the Colombian government will be able to comply with the proposals of its national development plan, which encourage property rights to facilitate proper land management and reduce illegal activity.