Land Bank in a Year: 1.2 Billion UAH to Budget and 62,000 Hectares out of Shadow.

Results of the 'Land Bank' Project Summarized

According to inkorr.com: Throughout the year, the 'Land Bank' project has actively operated, collecting 1.19 billion UAH including VAT from the use of state agricultural lands, as reported by the Ministry of Economy, Environment, and Agriculture.

A significant area of land, specifically 62,194 hectares, was transferred into lawful use through open online auctions in the 'Prozorro.Sales' system. This contributed to the legalization of land and ensured its accessibility for agricultural producers. The Minister of Economy, Environment, and Agriculture, Oleksiy Sobolev, emphasized that this project is capable of eradicating shadow schemes and providing real opportunities for farmers.

'The Land Bank' is an example of how transparent and competitive mechanisms can dismantle shadow schemes and replace them with genuine opportunities for agricultural producers. From the first pool of 90.9 thousand hectares, 62 thousand have already been transferred into lawful use, bringing in almost 1.2 billion UAH in paid funds, which will replenish the state budget. We see the effectiveness — and this result needs to be scaled so that every hectare of state land works for the development of the agro-sector and the economy,' stated the Minister of Economy, Environment, and Agriculture of Ukraine, Oleksiy Sobolev.

The Ministry also highlighted that the 'Land Bank' is already demonstrating its effectiveness by legalizing land agreements and turning them into real opportunities for farmers. During the project’s operation, over 1.19 billion UAH has been paid for the use of state lands, which will serve as an additional impetus for the development of the agricultural sector and will fill the state budget.

This project, initiated as part of reforms in the land sector, provides new opportunities for farmers and supports the legality of their activities. It is expected that further implementation of such mechanisms will foster the development of official land markets in Ukraine and combat informal schemes that have previously dominated this area.