We can increase the cost of land lease in Ukraine 5 times — President Poroshenko

The cost of farmland lease in Ukraine may be increased five times, President of Ukraine Petro Poroshenko stated during the meeting with students and professors of the National University of Bioresources and Environmental Management of Ukraine.

"Only open auctions with single starting conditions can abolish the domination of major tenants. Due to the correct reforms, we can increase the cost of land lease in Ukraine 5 times. This will be a fair position. In this way, we will increase the well-being of our peasants significantly," Petro Poroshenko noted.

According to him, the second direction is a joint effort to facilitate access to lending. He notes that now only 7% of the loan portfolio of Ukrainian banks falls on the agrarian sector. But as soon as reforms are carried out, the interest of the bankers will increase.

"To date, unfortunately, the smaller the agricultural enterprise is, the less is the chance of getting a loan. ¾ of funds that agricultural enterprises spend on crop production are their own funds," Petro Poroshenko stressed.

The infographic guide Agribusiness of Ukraine 2017/18 is available by the link.