The State Property Fund of Ukraine presented the "Land Bank" project at the AGRO UKRAINE SUMMIT

At the AGRO UKRAINE SUMMIT 2024, Deputy Chairman of the State Property Fund of Ukraine, Ihor Tymoshenko, presented the "Land Bank" – a new project by the Fund designed to implement effective use of state agricultural lands and support agricultural producers during these challenging wartime conditions.

The project opens up the opportunity for farmers to gain access to hundreds of thousands of hectares of state land on transparent and competitive terms through online auctions on the "Prozorro.Sales" electronic platform. The starting rental cost will be 12% of the normative monetary valuation of the land, and lease agreements will be concluded for 14 years for annual crops and 25 years for perennial crops.

A Cabinet of Ministers resolution on the first pool of land plots expected to be available for lease is anticipated shortly. In total, this amounts to 104.2 thousand hectares, which will be put up for auction at the end of June - early July 2024. These lands are located in various regions of Ukraine, giving farmers from all over the country the opportunity to participate in the auctions.

"The agricultural sector is one of the critical areas of development for the Ukrainian economy, which has suffered significant damage due to russian aggression. The "Land Bank" project aims to maximize the efficient use of the land resources available to the state and support agricultural producers, especially those who have lost their lands due to the war," said Ihor Tymoshenko.

The implementation of the "Land Bank" project will not only allow for the effective use of state lands and support agricultural producers, but also contribute to the replenishment of the state and local budgets, the creation of new jobs, and the development of rural areas.

The presentation describing the "Land Bank" project is now available for review.