Ukraine’s land market law: World Bank calls for additional legislation

Ukraine’s land market law: World Bank calls for additional legislation

Ukrinform
The World Bank has welcomed the adoption by the Verkhovna Rada of Ukraine of the law to launch a land market in the country. However, it calls for the adoption of a number of additional legislative acts.

“The World Bank welcomes the approval of the Land Turnover Law by the Ukrainian Parliament as a first step towards establishing a transparent and efficient market for agricultural land. To safeguard the interests of the Ukrainian people by making sure that land sales are done transparently, we urge the authorities to move quickly on additional legislation," World Bank Ukraine wrote on its Facebook page.

This includes legislation to provide open access to the cadaster data, strengthen land management, streamline land transfer procedures, regulate state land sales including mandatory electronic auctions, restrict discretionary handouts of state land, and enhance access to finance for small farmers.

It will also be important to bring forward participation of legal entities in the market to encourage healthy competition and to relax restrictions on the size of land purchases.

“These reforms would help unlock investment in agriculture, enable access to finance for farmers, and allow Ukrainian landowners to realize the value of their asset," the report says.

As reported, the Verkhovna Rada of Ukraine early on March 31 adopted the Law of Ukraine "On Amendments to Some Legislative Acts of Ukraine on the Circulation of Agricultural Land". A total of 259 MPs voted for the adoption of the corresponding bill, No.2178-10.

ish


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-