The State Land Bank has obtained a license of the National Bank of Ukraine and will kick off operation in two or three weeks, said agrarian policy and food minister Mykola Prysyazhnyuk. As a reminder, Ukraine’s government established the public joint-stock company State Land Bank on July 2, which is fully state-owned and has an authorized capital of UAH 120 Ml. The concept of the State Lank Bank includes two parts. The first one is effective management of state-owned lands, land consolidation and development of rural areas. The latter part is a credit and financial institution aimed at developing small and medium-sized businesses by means of cheap loans. Specialists expect the interest rate to average 8-9% per annum that is at least two times lower than offered by commercial banks.

UkrAgroConsult