World Bank stands for removal of moratorium on sale of land in Ukraine

Source : 112 Ukraine

Director of World Bank thinks that country should develop agriculture and attract the investments
22:46, 3 October 2017

The World Bank stands for removal of the moratorium on the sale of agricultural land in Ukraine since 2018. Director of the World Bank on Ukraine, Moldova and Belarus Satu Kahkonen reported at the presentation of a new economic review and macroeconomic prognosis for Ukraine as Ukrainian News reported.

According to her, the level of crop yield in Ukraine is significantly lower than in the European countries. She added that the country should develop agriculture and attract the investments in this sphere.

Related: World Bank expects adoption of land reform in Ukraine this autumn

‘It is necessary to implement the land reform. We stand for the removal of the moratorium since January 2018’, she said.

According to the World Bank, the transparent market of land will help to implement the potential of this sphere.

Related: Land reform in Ukraine: Should we sell agricultural land or not?

The Ministry of Finance claimed that the land reform is not the main condition for Ukraine that is necessary to get the next tranche from the International Monetary Fund.

President Petro Poroshenko stands for the holding of the land reform and provision of the possibility of sale the agricultural lands.

Related: Naftogaz risks to lose financing of EBRD and World Bank

The Ministry of Agricultural Policy and Food predicts the consideration of the draft law on land reform by the Verkhovna Rada in October 2017.

 The moratorium on the sale of land works since 2002. The Verkhovna Rada prolonged it until 2018 in 2016.

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