The Land Bank charter has been approved by the Government and published in the Uriadovyi Kurier newspaper. According to the charter, the bank is a public joint stock company, whose sole shareholder is the state represented by the Cabinet of Ministers of Ukraine. The bank’s authorized capital is 120 million UAH.

The decision to change the authorized capital was adopted by the Cabinet and agreed with the National Bank, the State Land Agency told.

“The board of directors of the bank and its chairman are appointed by the supervisory board of the financial institution in agreement with the National Bank for a term not exceeding 5 years. Meanwhile, the procedure for the appointment of the supervisory board is not specified,” the agency says.

Under the law, the composition of the supervisory board of the Land Bank shall be appointed by the Verkhovna Rada, the President and the Cabinet of Ministers.

The goal of the bank, according to its charter, is the creation of favorable conditions for economic and agricultural development, land market functioning, as well as support for domestic producers, especially small and medium farmers.

Ukrinform