The results of the Land Bank’s operation has surpassed expectations: The state budget has already received ₴1B.
Over the 10 months of the Land Bank project, agricultural producers paid over ₴1.008B ($24M), including VAT for using state-owned agricultural land. “This result exceeded our initial expectations”, said Yaroslav Yaroslavsky, General Director of the State Land Bank. A total of 720 agreements were signed, with the average cost of an annual sublease at ₴19,500 ($464) per hectare. Since the Land Bank’s launch, more than 4,000 applicants have participated in bidding. The state has auctioned 66,442 hectares of land across