New Opportunities for Agriculture in Ukraine
Since the launch of the «Land Bank» project, Ukraine has leased state agricultural land worth 584.9 million UAH (14.2 million USD), according to the Ministry of Economy of Ukraine.
A total of 20,521 hectares have been leased.
About the “Land Bank” Project: Key Details
The «Land Bank» project allows Ukrainian farmers to lease agricultural plots managed by state enterprises through online auctions on the state sales digital platform «Prozorro. Sales».
On average, seven participants compete for each lot, increasing the sublease value by eight times, said Ukraine's First Deputy Prime Minister Yuliya Svyrydenko.
«This demonstrates a new quality of state asset management, where land contributes to the economy and creates opportunities for agricultural businesses across the country», noted Svyrydenko.
69.1% of auction winners within the «Land Bank» are representatives of small and medium-sized agricultural businesses. Among the sub-lessees, there are those who have signed more than 20 sublease agreements and are already actively cultivating these lands, said the CEO of «State Land Bank» Yaroslav Yaroslavsky.
Results of the “Land Bank” Project
Since October 1, 2024, there have been 506 online auctions for the sublease of state agricultural land in the «Prozorro. Sales» system, covering a total area of 35,235 hectares across 17 regions of Ukraine.
As a result of 271 auctions, sublease agreements were made for land plots totaling 20,521 hectares.
The highest competition among participants was observed in the Vinnytsia region, with an average of 22 bidders per lot. The Poltava and Cherkasy regions followed, with an average of 14 participants per lot.
Among the concluded agreements, the highest average price per hectare was in the Ivano-Frankivsk region at 47,500 UAH, while the lowest was in the Transcarpathian region at 3,496 UAH per hectare.
«In just the first six months of operation, the “Land Bank” has become a leader in attracting funds among all organizers of land auctions on the “Prozorro. Sales” platform since the autumn of 2021», stated the CEO of «Prozorro. Sales» Serhiy But.
As of April 3, there are 394 land plots available for sublease in the «Prozorro. Sales» system, totaling nearly 12,000 hectares.
Among the available lots is the largest object of the first pool of the «Land Bank» — a plot of 3,969 hectares in the Kirovohrad region with a starting price of 13.7 million UAH.
The smallest plot is 0.03 hectares located in the Transcarpathian region.