Since the launch of the «Land Bank» initiative in Ukraine, state agricultural lands have been leased for a total of 584.9 million UAH, equivalent to 14.2 million USD, as reported by the Ministry of Economy of Ukraine.
A total of 20,521 hectares have been leased.
Understanding the “Land Bank” Project
The «Land Bank» project enables Ukrainian farmers to lease agricultural plots managed by state agribusinesses through online auctions on the digital sales platform «Prozorro.Продажі».
On average, seven participants compete for each lot, which increases the overall sublease value eightfold, according to First Deputy Prime Minister Yulia Svyrydenko.
«This is an example of a new quality of state asset management, where land contributes to the economy and creates opportunities for agribusiness across the country,» said Svyrydenko.
69.1% of auction winners within the «Land Bank» are representatives of small and medium agribusinesses. Among the sublessees are those who have signed more than 20 sublease contracts and are already actively cultivating these lands, noted the CEO of the 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 lands on the «Prozorro.Продажі» platform, covering a total area of 35,235 hectares across 17 regions of Ukraine.
As a result, agreements were made for land plots totaling 20,521 hectares from 271 auctions.
The highest competition among participants was observed in the Vinnytsia region, averaging 22 bidders per lot. This was followed by Poltava and Cherkasy regions, with an average of 14 participants per lot.
Among the concluded agreements, the highest average price per hectare was recorded in Ivano-Frankivsk region at 47,500 UAH, while the lowest was in Zakarpattia at 3,496 UAH per hectare.
«Within 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.Продажі” platform since the fall of 2021,” stated the CEO of «Prozorro.Продажі», Serhiy But.
As of April 3, there are 394 land plots available for sublease totaling nearly 12,000 hectares on the «Prozorro.Продажі» platform.
Among the available lots is the largest object of the first pool of the «Land Bank» — a plot of 3,969 hectares in Kirovohrad region with a starting price of 13.7 million UAH.
The smallest plot, measuring 0.03 hectares, is located in Zakarpattia.