IFC critical about creation of State Land Bank in Ukraine

Kyiv, December 16 (Interfax-Ukraine) – The International Finance Corporation (IFC) has critically assessed the initiative to create the State Land Bank in Ukraine, IFC Representative Office in Ukraine Head Olena Voloshina has said.

"The IFC is negative about the idea of creating the State Land Bank, as the state is not an effective owner, and we doubt that the Land Bank will be an effective agricultural producer," she said at a press conference at Interfax-Ukraine on Friday.

Voloshina said that if created, "the Land Bank should be well capitalized, but where will the state get the money to create another bank?"

"It was a great idea to create the Land Bank on the basis of one of the nationalized banks. It is a great idea, but how to attract funding for the bank in the future? Who will be areal investor?" she said.

Voloshina said the state's role should be in the creation of normal, stable, transparent and clear rules for the private sector.