You're reading: Government appoints supervisory board members of State Land Bank

The Ukrainian government has appointed five members of the supervisory board of public joint-stock company State Land Bank, who represent the Agricultural Policy and Food Ministry, Finance Ministry and the State Agency for Land Resources.

This is stipulated in cabinet resolution No. 134 of March 4, 2013.

The supervisory board of the bank includes Deputy Agricultural Policy and Food Minister Oleksandr Sen, the director of the financial and credit policy department of the Agricultural Policy and Food Ministry, Bahrat Akhidzhanov, the director of the debt and international financial policy department of the Finance Ministry, Halyna Pakhachuk, the head of the patronage service of the Finance Ministry, Roman Chuprynenko, and First Deputy Chairman of the State Agency for Land Resources Artem Kadomsky.

As reported, the Ukrainian government on July 2, 2012 adopted a resolution on the establishment of the State Land Bank. In October, President of Ukraine Viktor Yanukovych signed a law on its legal status, and the parliament appointed members of its supervisory board.

In February 2013, the Cabinet of Ministers of Ukraine sent UAH 120 million to a temporary account of the National Bank of Ukraine to form the charter capital of the State Land Bank.

The Agricultural Policy and Food Ministry predicts that the State Land Bank, which is being created in 2013, will start crediting farmers. The ministry calculated that the funds would be issued at 10-12% per annum.