Ukraine has signed land lease agreements for state agricultural lands worth 584.9 million UAH (14.2 million USD) since the launch of the 'Land Bank' initiative in October 2024, the Ministry of Economy reported.
A total of 20,521 hectares have been leased.
What to know about the 'Land Bank'
The 'Land Bank' initiative allows farmers to lease state-owned agricultural plots through online auctions on the 'Prozorro.Sales' digital platform.
On average, there are seven participants competing for each lot, which increases the sublease value eightfold, noted First Deputy Prime Minister Yulia Svyrydenko.
'This is an example of a new approach to managing state assets, where land serves the economy and creates opportunities for agribusiness nationwide,' Svyrydenko emphasized.
69.1% of auction winners are representatives of small and medium-sized agribusinesses. Among the sublessees are those who have signed over 20 sublease agreements and are actively cultivating these lands, said Yaroslav Yaroslavsky, CEO of the State Land Bank.
Results of the 'Land Bank' project
Since October 1, 2024, there have been 506 online auctions for leasing state agricultural lands covering a total area of 35,235 hectares across 17 regions of Ukraine.
As a result of 271 auctions, lease agreements for land parcels totaling 20,521 hectares have been signed.
The highest competition among participants was in the Vinnytsia region — an average of 22 contenders per lot. The Poltava and Cherkasy regions followed with an average of 14 participants per lot.
Among the signed agreements, the highest average price per hectare was in the Ivano-Frankivsk region — 47,500 UAH, while the lowest was in the Zakarpattia region — 3,496 UAH per hectare.
'In just the first six months, the 'Land Bank' has become a leader in funds raised among all organizers of land auctions on the 'Prozorro.Sales' platform since autumn 2021,' stated Sergey But, CEO of 'Prozorro.Sales'.
As of April 3, there are 394 land parcels available for sublease totaling nearly 12,000 hectares in the 'Prozorro.Sales' system.
Among the available lots is the largest object from 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, sized 0.03 hectares, is located in the Zakarpattia region.