Rada approved the law on attracting private investment in land reclamation

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The Verkhovna Rada adopted draft law No. 7577, which creates a new model for the functioning of land reclamation system operators as non-commercial entities. This will allow attracting private investment and reducing state expenditures on hydraulic land reclamation.

The Verkhovna Rada adopted in the second reading and in general a draft law that provides for the creation of a new model for the functioning of land reclamation system operators as non-commercial entities in Ukraine. According to the authors of the law, it will allow attracting private investments in the restoration and development of land reclamation, as well as reducing state expenditures on hydraulic land reclamation. This was reported by UNN with reference to the card of draft law No. 7577.

Details

"The law has been adopted," the draft law card states.

According to the document, it is envisaged to create in Ukraine a model for the functioning of land reclamation system operators as non-commercial entities with corporate governance tools and financial capacity, as well as a clear delineation of functions: water resource management and infrastructure operation.

The document will allow attracting private investments in the restoration and development of land reclamation, reducing state expenditures on hydraulic land reclamation, increasing the efficiency and transparency of land reclamation infrastructure management, and involving consumers of services of relevant land reclamation systems in the management of land reclamation infrastructure.

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In Ukraine, a plan for effective irrigation of agricultural lands in the context of climate change has been approved.

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