News
17.09.2013
Land bank will start operating in 2-3 weeks - Prysiazhniuk
The State Land Bank received a license of the National Bank of Ukraine and will start its work in two to three weeks. Agricultural Policy and Food Minister Mykola Prysiazhniuk has said about this in an interview to the Uriadovy Kurier (Government Courier) newspaper.
“Work is underway on completion of the legislative base formation, which is necessary for the start of the Land Bank operation. Currently, the bank has received the NBU license, preparation of other documentation is being made so that the bank could start operating in two to three weeks,” the Minister noted.
To remind, the Cabinet of Ministers has set up the public joint stock company State Land Bank with authorized capital of UAH 120 million on July 2, which full belongs to the state.
A concept of the State Land Bank consists of two parts. The first one is effective management of lands possessed by the state, consolidation of lands, and development of rural territories. The second concerns the financial-credit institution, whose aim is development of small and medium businesses at the expense of cheap credits. A rate, on which the specialists count, must be 8-9 percent annual on average, this is minimum twice less against commercial banks.
