EBRD, EIB: hurry in land reform inappropriate

A rapid implementation of land reform in Ukraine may lead to irreversible errors, Managing Director of the European Bank for Reconstruction and Development (EBRD) for Eastern Europe and the Caucasus Matteo Patrone believes.

He said the mantra they constantly heard, including in Mariupol [at the investment forum], last week was “we need to hurry, do everything as quickly as possible, yes, there will be mistakes, but then we will fix them.” He said the land reform is a place where mistakes cannot be made, they will be irreversible.

“Let’s take a break, think and do everything gradually and correctly, and preserve the rights of small farmers,” he added, speaking at the Kyiv International Economic Forum.

The same opinion is shared by Jean-Jacques Soulacroup, the senior corporate banker at the European Investment Bank (EIB).

“Ukraine should not be in a hurry,” he said. He noted he would recommend doing it gradually, at first solving the issue of land in state ownership, privatizing it.

At the same time, Tomas Fiala, the head of Dragon Capital investment fund, said that businesses expect the market to open from Oct. 1, 2020.

“My recommendation would be to use this window of opportunity – political opportunity and political will at an early stage, because over time this desire may diminish and advance such unpopular reforms would be more difficult,” Fiala said.


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