Since the launch of the «Land Bank» project in October 2024, Ukraine has leased 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.

About the “Land Bank” initiative: key facts

This initiative allows farmers to lease lands owned by state agricultural enterprises through online auctions on the «Prozorro.Sales» platform.

On average, seven participants compete for each auction, increasing the sublease value eightfold, stated First Deputy Prime Minister Julia Svyrydenko.

«This reflects a new level of state asset management where land contributes to the economy and creates opportunities for agriculture across the country,» she added.

69.1% of auction winners are representatives of small and medium-sized agricultural businesses. Among the sublessees, there are those who have signed over 20 contracts and are actively utilizing these lands, noted Yaroslav Yaroslavsky, CEO of the «State Land Bank».

Results of the “Land Bank” initiative

From October 1, 2024, there were 506 online auctions for the sublease of state agricultural lands in the «Prozorro.Sales» system, covering a total area of 35,235 hectares across 17 regions of Ukraine.

As a result of 271 auctions, contracts were signed for land areas totaling 20,521 hectares.

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

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

«In just 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.Sales” platform since autumn 2021,» stated Sergey But, CEO of «Prozorro.Sales».

As of April 3, 394 land plots are available for sublease in the «Prozorro.Sales» system, totaling nearly 12,000 hectares.

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 Transcarpathia.