The opening of a land market could increase Ukraine’s GDP by 2% – world Bank

Открытие рынка земли может увеличить ВВП Украины на 2% - Всемирный банк

The opening of the land market will contribute to GDP growth of 2% in subsequent years.

This was during the signing of the loan agreement for the Program based on the results of accelerating private investment in agriculture between the world Bank and the Ministry of Finance said world Bank Director for Ukraine, Belarus and Moldova satu Kähkönen, said in a press release that is available to UKRINFORM.

“The opening of the land market and to improve the targeting of subsidies, implementation of measures to improve the performance and transparency of the agricultural sector – all of which can contribute to additional GDP growth of more than 2% over the next years,” Kähkönen said.

The press release also notes that the implementation of this program will help the viability of the market of agricultural land, encouraging investments in productivity and create the conditions for the use of land as collateral, especially for lending to small and medium-sized farms.

It was reported that since may 2014 the world Bank group has provided Ukraine with $ 5.6 billion in the form of four loans in the framework of development policy and seven investment loans, as well as the guarantee of payment for gas in the amount of $ 500 million guarantee to support the state policy in the amount of $ 750 million. Investment projects of the world Bank contribute to the quality of water supply, drainage, heating, electricity, road construction, social protection and health, as well as private sector development.