STATE LAND BANK: HISTORY OF CREATION AND DEVELOPMENT IN UKRAINE AND THE WORLD

Abstract

The article presents retrospective analysis of the creation and development of the State Land Bank in Ukraine. It is substantiated that for the effective functioning of the land market, among other components, the functioning of proper infrastructure and system of state control is necessary, when the State Land Bank or other specialized state institution plays an important role and performs the functions of the market regulator and land manager. Study of the peculiarities of the functioning of mortgage lending systems at foreign countries and the possibility of applying foreign experience for the development of mortgage relations in agriculture of Ukraine are conducted. The perfect infrastructure of the mortgage and credit market ensures high efficiency of mortgage relations. It is identified that important elements of the infrastructure of the mortgage market in many countries are: land cadastre and centralized credit bureau with access of banks to their information in real time, centralized real estate database; stock exchanges, clearing centers and the clearing system of the central bank, specialized banks and structures (corporations, funds, management), state trust guarantee funds. In today's conditions, when Ukrainian agricultural producers use land on lease, the expediency of creating the appropriate state institutions, including the establishment of the State Land (Mortgage) Bank, is growing. Its functioning will promote to: the development of mortgages on agricultural land; improve the conditions of medium- and long-term lending secured by land to meet the needs of agricultural producers and the population living in rural areas; expand the possibilities of agricultural production; provide regulation of the pricing process for land plots; ensure the effective operation of the land redistribution mechanism; will help attract investment in agriculture and additional investments in land to maintain its fertility, etc.