Land Bank Project: Transparent Auctions Raise 757 Million UAH

At the end of 2024, the first stage of the Land Bank project was completed in Ukraine, which became an important step towards the transparent and effective use of state agricultural lands. From October to December, 266 successful auctions were held, which ensured the transfer of land for sublease for a total amount of 757 million UAH.

The results of the project were reported by the Minister of Agrarian Policy and Food of Ukraine, Vitaliy Koval. According to him, the Land Bank was launched with the aim of transparently transferring state lands for lease through open auctions, and significant results were achieved in just a few months.

As part of the auctions held, 23,296 hectares of land were subleased in 15 regions of Ukraine, including Vinnytsia, Kyiv, Lviv, Odesa, Volyn, Dnipropetrovsk, Zhytomyr and others. At the moment, 175 agreements have been concluded for the transfer of 10,847 hectares, which will provide annual revenues to the state budget in the amount of 343.7 million hryvnias including VAT.

A feature of these auctions was the high competition among participants. According to the minister, an average of nine people participated in each auction, and the initial cost of the lease increased 8.6 times during the bidding process. A total of 2,476 offers were submitted. The average cost of the sublease was 31.7 thousand hryvnias per hectare.

The Minister also emphasized the anti-corruption effect of the project: “Transparent auctions in the “Prozorro.Sales” system ensure the honesty and openness of land lease transfers. This not only helps attract investment, but also provides additional revenue to the budget, which is critically important for the country during the war and its subsequent recovery.”

Vitaliy Koval added that new land plots for sublease will be put up for auction next week, and called on businesses to actively participate in the auctions. The “Land Bank” project demonstrates how state initiatives can promote economic growth and support the country in difficult times.