Ukrainian Government to Create State Land Bank, Kommersant Says

Ukraine’s central bank and the Agriculture Ministry are preparing a draft law to create a state land bank to buy agricultural plots from farmers, Kommersant- Ukraine newspaper reported, citing Serhiy Timchenko, the head of the state agency for land resources.

The bank will either auction or lease agricultural lands in its portfolio, the newspaper reported. The government may allocate 5 billion hryvnia ($630 million) for the project, according to Kommersant.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.

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