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Recommendations include passing additional legislation.
The World Bank has welcomed the approval of the Land Turnover Law by the Ukrainian Parliament.
It is a "first step towards establishing a transparent and efficient market for agricultural land," WB's Ukraine Office wrote on Facebook.
"To safeguard the interests of the Ukrainian people by making sure that land sales are done transparently, we urge the authorities to move quickly on additional legislation," the statement reads.
Read alsoFarmland market launched in Ukraine: main facts
"This includes legislation to provide open access to the cadaster data, strengthen land management, streamline land transfer procedures, regulate state land sales including mandatory electronic auctions, restrict discretionary handouts of state land, and enhance access to finance for small farmers," the World Bank says.
It will also be important, the statement adds, "to bring forward participation of legal entities in the market to encourage healthy competition and to relax restrictions on the size of land purchases."
It is emphasized that these reforms would "help unlock investment in agriculture, enable access to finance for farmers, and allow Ukrainian landowners to realize the value of their asset."
As UNIAN reported earlier, on March 31, the Verkhovna Rada of Ukraine passed a law on farmland turnover, launching farmland market from July 1, 2021.