Ukraine has successfully implemented the 'Land Bank' project, which has generated 584.9 million hryvnias (14.2 million dollars) from leasing state agricultural lands since its launch in October 2024, according to the Ministry of Economy.

The total area of land leased amounts to 20,521 hectares.

Key Points of the 'Land Bank' Project

This project allows Ukrainian farmers to lease land parcels owned by state agricultural enterprises through online auctions on the 'Prozorro.Sales' platform.

On average, seven participants compete for each lot, increasing the subleasing value eightfold, noted Ukraine's First Deputy Prime Minister Yulia Svyrydenko.

"This is a new approach to managing state assets that supports agribusiness development nationwide," Svyrydenko emphasized.

Approximately 69.1% of auction winners are small and medium-sized agribusiness representatives. Among sub-lessees, there are those who have signed over 20 agreements and are actively cultivating these lands, reported the CEO of the State Land Bank LLC, Yaroslav Yaroslavsky.

Results of the 'Land Bank' Project

Since October 1, 2024, 506 online auctions for subleasing state agricultural lands covering a total area of 35,235 hectares have been conducted in the 'Prozorro.Sales' system across 17 regions of Ukraine.

As a result of 271 auctions, lease agreements for land parcels totaling 20,521 hectares were signed.

The highest competition among participants was recorded in the Vinnytsia region, with an average of 22 bidders per lot. The Poltava and Cherkasy regions followed closely with an average of 14 participants per lot.

Among the signed agreements, the highest average price per hectare was in the Ivano-Frankivsk region at 47,500 UAH, while the lowest was in the Zakarpattia region at 3,496 UAH per hectare.

"In just six months of operation, the 'Land Bank' has become a leader in attracting funds among all organizers of land auctions on the 'Prozorro.Sales' platform since autumn 2021," stated the CEO of 'Prozorro.Sales', Serhiy But.

As of April 3, 394 land plots with a total area of nearly 12,000 hectares are available for subleasing in the 'Prozorro.Sales' system.

Among the available lots is the largest object of 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, measuring 0.03 hectares, is located in the Zakarpattia region.