Page 56 - STRATEGY FOR SUSTAINABLE AGRICULTUR AND RURAL DEVELOPMENT IN THE PERIOD 2021-2030 AND VISION TO 2050

21. The Strategy mentions the development of a “Land Bank” as a solution to
improve the transparency and efficiency of land use, so what is the “Land
Bank” and what is the role of the “Land Bank” in agriculture development?

According to Damen (2004), a land bank is an intermediary to perform agricultural land
a representative state agency that conducts transactions (transferring; receiving capital
the purchase, sale or land acquisition in rural contribution with agriculture land use rights
areas for redistribution or leases to improve of organizations, households and individuals;
the agricultural structure or redistribute renting public land from the Commune
land for other purposes for the benefit of the People’s Committee; transferring rights of
community. According to Frank S. Alexander agriculture land use). The agriculture land
(2011), a land bank is a process or policy for bank will collect information on the supply
local authorities to acquire and lease back and demand for agricultural land to create
unused land from people and convert it to the agricultural land source and participate
productive use or retain it for long-term public in the land appraisal, lease, management
use. A land bank can be a public or non- and supervision of land use contracts.
profit agency specializing in land banking. Some examples of the land bank are the
In some localities, the development authority Flint Land and Genesee country and rural
with qualified capacity should be assigned a land bank programs in Dallas, Cleveland
land bank function. According to the Institute Land Bank, Philadelphia Land Bank, and
of Land Research and Management (2021), Atlanta Land Bank Organisation, State land
an agricultural land bank is an enterprise bank in Michigan in the United States; Delhi
providing public service and operating under Development Organization in India, and
the land resources organization. The bank MetroVivienda, Bogota, Colombia.
has the function of creating, developing, Agriculture land banks act as intermediaries
managing, and exploiting the accumulated between land users and investors to conduct
agriculture land; renting, leasing; acting as transactions on agricultural land. The bank

56 Guidelines for the Strategy for sustainable agriculture and rural development
in the period 2021-2030, and vision to 2050