World Bank endorses land reform in Ukraine

12:03, 11.11.2019 1 min read

The World Bank has expressed its strong support to land reform in Ukraine and praised its necessity to all market participants.

"The World Bank strongly endorses the plans of Ukrainian leadership to open the agricultural land market. Land reform is needed for Ukrainian farmers to buy and sell agricultural land, access credit, invest and diversify, as well as land owners to get proper return for their most valuable asset," the World Bank said in its statement posted on Facebook on November 9.

The statement reads that all farmers, including small, medium and large, and landowners will benefit from the opening of the land market.

"It raises economic growth as well as living standards of all Ukrainian people by unleashing the country’s agricultural potential. The planned reform also includes measures to limit land concentration, stop raider attacks and provide financial assistance for small farmers. Two decades of a closed market and non-transparency that fosters corruption are enough: the time for land reform is now," the World Bank said.