The State Property Fund is actively working on the launch of the Land Bank project

The implementation of the Land Bank project will allow farmers to access the state agricultural land market through online auctions in the Prozorro.Sale electronic trading system. This will ensure the market value of the lease, which will depend on the location, soil quality and availability of infrastructure. The starting price will be 12% of the normative monetary value of the land.

The Fund has already carried out the relevant work: made an inventory of state land assets; allocated the share owned by the Fund; determined the list of enterprises whose land will be put up for lease auctions in the first place:

386 thousand hectares are managed by the State Property Fund of Ukraine;

277 thousand hectares in the National Academy of Agrarian Sciences;

99.2 thousand hectares in the Ministry of Justice;

More than 40 thousand hectares in other ministries.

Chairman of the State Property Fund Vitaliy Koval said: "The Fund's task is to provide a transparent mechanism for land lease through auctions with equal access rules for both small farmers and large enterprises."

The project will contribute to positive economic growth, stimulate market development and give rise to new businesses that will increase tax revenues and create new jobs. The proceeds from the lease of agricultural land will be transferred to the state budget to support the Defense Forces.