The State Land Bank plans to get a banking license by the end of August and to start fully operating in October, chairman of the board of the State Land Bank Svitlana Skosyrska told a round table, ForUm correspondent reports.

According to her, in Ukraine has tried to create such bank since 2002. "But only last year, a resolution of the Cabinet of Ministers № 609 on establishment of the State Land Bank was adopted, and on December 28, 2012, the funds were allocated for formation of its share capital (120 million UAH). The bank is now in the stage of formation, and the legislation is being reformed as well for the State Land Bank to attract state land resources in its share capital. This reform will be completed in September, and our registered capital may have land in October," the financier said.

Skosyrska clarified that a mission of the State Land Bank includes improvement of the quality of life of the Ukrainian village through the effective management of agricultural state lands. The second strategic goal is a financial support for small and medium-sized agricultural producers.

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