EBRD opposes rush of Ukraine's government with land reform

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112 UA | 10 November 2019

EBRD opposes rush of Ukraine's government with land reform
 
Managing Director of the European Bank for Reconstruction and Development (EBRD) for Eastern Europe and the Caucasus Matteo Patrone believes that the rapid implementation of land reform in Ukraine could lead to irreversible errors. He said this at Kyiv International Economic Forum on Saturday, according to Interfax.
 
“The mantra that we constantly hear, including in Mariupol last week, is“ we need to hurry, do everything as quickly as possible, yes, there will be mistakes, but then we will fix them.” Land reform is such a thing where no mistakes can be made, they will be irreversible. Let's take a break, think and do everything gradually and correctly. And we will preserve the rights of small farmers," said Patrone.
 
A similar point of view is taken by the Deputy Head of Corporate Finance in the European Investment Bank (EIB).
 
"Ukraine should not be in a hurry... I would recommend doing it gradually, at first solving the issue of land in state ownership, privatizing it," he emphasized.
 
But Minister of Economic Development, Trade, and Agriculture of Ukraine Milovanov having learned from the media that Patrone was against the rush to introduce the land market, tried to refute this information.
 
Patrone in his message notes that during an informal meeting with Milovanov the EBRD program in Ukraine was discussed, as well as the bank’s support for reforms in the country. In particular, it was about corporate governance reform at state-owned enterprises and land market reform. According to him, the bank really supports these reforms. But speaking of the land market, Patrone stressed that the EBRD expects that appropriate legislation will be adopted soon. And it will be correctly implemented, along with all preventive measures in which the Ukrainian people could be protected from corruption and abuse in this area. After Milovanov informs Patron about the results, the EBRD will be ready to allocate funds to Ukraine.
Original source: 112UA
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