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Ukraine to Honor Agriculture Lease Agreements After Land Reforms
09.08.2011 14:27 "Agro Perspectiva" (Kyiv) —
The Ukrainian government, which plans to introduce the sale of agricultural land in 2012, will guarantee that existing lease agreements will be honored, Agriculture Minister Mykola Prysyazhnyuk said.
People in rural areas currently lease 6.5 million plots of land to bigger companies. Ukraine has 41.6 million hectares (103 million acres) of agricultural land covering 69 percent of its territory. Arable land accounts for 32.5 million hectares.
Land reform bills are scheduled to go before the parliament this autumn and to be introduced Jan. 1, 2012.
The government plans to «keep in place the existing balance to ensure production volumes and development of the agriculture sector,» Prysyazhnyuk said in an e-mailed statement yesterday.
Ukraine’s land reform is expected to improve access to bank loans, agricultural management and to help establish fair lease and sale prices, President Viktor Yanukovych said at a press conference in Kiev yesterday.
The changes could generate up to 420 billion hryvnia ($52.6 billion) in new bank loans, Yanukovych said.
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