The State Property Fund of Ukraine (SPFU) has completed the process of corporatization of SE Agrarian Investment Fund, creating LLC State Land Bank on its basis.
This is stated in the message of the SPFU, the Ukrainian News agency reports.
"This is the first state operator of agricultural land. The newly created company is 100% owned by the state. This is a necessary final stage in the implementation of the Land Bank project before the official launch of the first online auctions for the lease of state land," the message says.
It is noted that the implementation of the Land Bank project aims to significantly increase the efficiency of the use of state lands, increase revenues to the state budget, and create transparent conditions for all market participants.
As the Ukrainian News agency earlier reported, in June the SPFU appointed Yaroslav Yaroslavskyi as the head of the SE Agrarian Investment Fund.
The SPFU expects that the opening of the state land rental market through the Land Bank at the first stage will bring an additional UAH 1 billion to the budget, and if all lands are involved, this amount may increase to over UAH 8 billion.
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