Through the Land Bank’s implementation, Ukraine will receive several billion hryvnias from the lease of state lands next year, which will contribute to the country’s economic development, said Minister of Agrarian Policy Vitaly Koval.
According to him, the project’s goal was to enable Ukrainian farmers to use state agricultural land legally. The Land Bank will allow transparent leasing of state land for 14 years for the cultivation of one-year crops and 25 years for crops that require a longer time to harvest.
According to estimates from the State Property Fund, the provision of state land for long-term lease will bring ₴8B ($195M) annually. By the end of this year, they plan to lease 1,905 plots of land with an area of 100,000 hectares. Estimated total revenue from renting the first pool of land is expected to reach ₴1B.
The SPFU is already working on the second pool, which will include about 250,000 hectares. Implementation of this stage of the project is planned for 2025.