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 19 regions, with more than 51,731 hectares transferred to farmers for use. The main participants in the project were small and medium-sized agricultural enterprises, accounting for 86.8% of all tenants. Already, 160 companies are harvesting their first crops on the leased plots.

The largest sources of revenue were the Kirovohrad region – ₴235.4M (46 transactions), Kharkiv region – ₴214.3M (233 transactions), and Poltava region – ₴105.7M (24 transactions). As of August 4, an additional 752 land plots totaling over 11,290 hectares were available for lease.