Ukraine’s land market bill raises concerns, says World Bank director

2011-11-02 15:31:55

Ukraine's proposed land market bill, which includes lifting a moratorium on the sale of farmland, raises some concerns at the World Bank, Martin Raiser, World Bank Director for Ukraine, Belarus and Moldova, wrote in an opinion column published in the Mirror Weekly Ukraine.

He said that the land bill contains two large problems.

"First, the land bill contains too many restrictions on who is allowed to buy farmland. For example, the exclusion of companies from the potential buyers and a complete ban on the sale of farmland to foreigners will lead to reduced demand and keep prices low. The requirements would hinder investment in agriculture, while these funds are extremely necessary to increase its effectiveness," Raiser said.