National Bank of Ukraine Ex-Chairman Danilishin elected head of State Land Bank's supervisory board

MOSCOW. Dec 5 (Interfax) - The State Property Fund of Ukraine (SPFU) has set up a supervisory board at JSC State Land Bank, the state operator of agricultural land, and former Board Chairman of the National Bank of Ukraine (NBU) Bogdan Danilishin has been elected its chairman.

The supervisory board also includes Igor Potyomka, head of the state company co-owning Ocean Plaza, Alexander Vasilchenko, head of the SPFU's directorate of agribusiness companies, and Stanislav Banchuk, acting director of the state ethyl alcohol monopoly Ukrspirt, "who have considerable managerial experience," Ukrainian media reported with reference to the SPFU.

"The board's primary objective is to guarantee strategic management and transparency of the state operator State Land Bank's activities on the land sublease market," the SPFU said.

The supervisory board's mandate includes endorsing a strategic development plan and financial and investment plans, monitoring risk management, and implementing anticorruption policies.

As reported, the SPFU controls 386,000 hectares of farmland in Ukraine. "In total, the state's assets include 806,000 hectares of farmland, which will be gradually consolidated in the Land Bank as the SPFU's project of transparent lease of farmland," SPFU deputy head Oksana Osmachko said in July.

The SPFU established JSC State Land Bank wholly owned by the state on August 22, 2024 to implement a lease project through Prozorro.Sales auctions.