In the first ten months of the ‘Land Bank’ project, Ukrainian agricultural producers have already paid over 1.008 billion UAH in VAT to the state budget for the right to use state-owned agricultural land.
This is reported by Finway
“This result exceeded our initial expectations,” noted the CEO of the ‘State Land Bank’, Yaroslav Yaroslavskyi.
Scale of Agricultural Participation in Auctions
Since the launch of the ‘Land Bank’, 720 agreements have been concluded with an average annual sublease cost of 19,500 UAH per hectare. In total, over 4,000 applicants participated in the auctions for state land plots. A total of 66,442 hectares were put up for auction in 19 regions of Ukraine, of which agricultural producers have already received over 51,731 hectares for use. The majority of tenants are small and medium-sized agricultural enterprises, accounting for 86.8% of the total. Already, 160 companies have begun harvesting crops on the leased plots.
Leaders in Revenue and Available Offers
The highest revenues to the state budget from the use of state land were provided by Kirovohrad region (235.4 million UAH and 46 agreements), Kharkiv region (214.3 million UAH and 233 agreements), and Poltava region (105.7 million UAH and 24 agreements). As of August 4, farmers had access to an additional 752 land plots totaling over 11,290 hectares for lease.