State Property Fund completed the creation of the first state agricultural land operator.

The State Property Fund of Ukraine has completed the corporatization of the SE "Agrarian Investment Fund" and created on its basis LLC "State Land Bank." This is the first state operator of agricultural land.

The newly created company is wholly owned by the state. This is the last stage before the official launch of the first online auctions for leasing state lands.

The Head of the State Property Fund of Ukraine, Vitaliy Koval, said: "We have taken a significant step in reforming the state land market. This is a unique experience for Ukraine, as for the first Time a state enterprise has been transformed into an LLC, wholly owned by the state."

The head of LLC "State Land Bank," Yaroslav Yaroslavsky, noted that the new mechanism for using land plots will lead to a twelvefold increase in budget revenues by raising the rental rate from 1% to 12%.

The creation of LLC "State Land Bank" is an important step in reforming the management of state lands. The implementation of the "Land Bank" project aims to increase the efficiency of state land use, increase state budget revenues, and create transparent conditions for market participants.