In the first year of the ‘Land Bank’ project, Ukrainian agrarians transferred approximately 1.2 billion UAH to the state budget for the use of state-owned agricultural lands. A significant portion of the funds was obtained through the transfer of 62,000 hectares from the first pool of 90,900 hectares into legal use.
This is reported by Business • Media
“From the first pool of 90,900 hectares, 62,000 have already been transferred into legal use, bringing in nearly ₴1.2 billion in payments that will replenish the state budget,” noted Minister of Economy Oleksiy Sobolev.
Preparation of the Second Pool and Interest from Agrarians
Igor Tymoshenko, Deputy Head of the State Property Fund, reported that preparations for the second pool of lands are currently underway, which will expand agrarians’ access to state plots. The project enjoys high demand among participants: on average, there are five applicants for each lot, increasing competition and contributing to the formation of market value. The average sublease rate per hectare per year is 19,100 UAH, including VAT.
Regional Revenue Indicators and Costs
The leaders in revenue amounts were agrarians from the Kharkiv region, who contributed 238 million UAH to the budget. High demand for state lands is observed among small and medium-sized agribusinesses across all 19 regions where the ‘Land Bank’ project operates. The highest average rental price per hectare including VAT was recorded in Lviv region (54,890 UAH) and in Ivano-Frankivsk region (46,792 UAH). Meanwhile, the lowest average price was recorded in Transcarpathia – 5,115 UAH per hectare.