Since the launch of the «Land Bank» project in October 2024, Ukraine has successfully leased state agricultural lands worth 584.9 million UAH (14.2 million USD), as reported by the Ministry of Economy.

A total of 20,521 hectares have been leased.

Key Insights on the “Land Bank” Project

This project allows Ukrainian farmers to lease agricultural plots owned by state agricultural enterprises through online auctions on the «Prozorro.Sales» digital platform.

On average, seven participants compete for each lot, significantly increasing the total rental value by eight times, noted First Deputy Prime Minister of Ukraine, Yuliya Svyrydenko.

«This exemplifies a new quality of managing state assets, where land works for the economy and creates opportunities for agribusiness across the country,» Svyrydenko added.

69.1% of auction winners within the «Land Bank» are representatives of small and medium-sized agribusinesses. Among the lessees are those who have signed over 20 sublease agreements and are actively cultivating these lands, stated the CEO of the State Land Bank, Yaroslav Yaroslavsky.

Project Outcomes of the “Land Bank”

From October 1, 2024, the «Prozorro.Sales» system has conducted 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, sublease agreements were signed for land plots totaling 20,521 hectares.

The highest competition among participants was in the Vinnytsia region, with an average of 22 contenders per lot. Following closely were the Poltava and Cherkasy regions, averaging 14 participants per lot.

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

«Within just the first six months of operation, the “Land Bank” has become a leader in the volume of attracted 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, there are 394 land plots available for sublease in the «Prozorro.Sales» system, with a total area of nearly 12,000 hectares.

Among the available lots is the largest object of the first pool of the «Land Bank» — a plot of 3969 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 Transcarpathian region.