The European Bank of Reconstruction and Development (EBRD) and the Ukrainian Geological Survey have signed a Memorandum of Understanding, aiming to facilitate the modernisation of geodata management in Ukraine.
By digitalising geological data, including documents and maps, the EU will help Ukraine improve governance, transparency, regulation as well as access for investors.
“This is a truly impressive development under the EU-Ukrainian strategic partnership on raw materials, given the fact that the war still rages in Ukraine. Raw materials, critical for green and digital economies, can be found in abundance in Ukraine, which holds deposits of some 20 out of 30 such materials,” European Commission Vice-President for Interinstitutional Relations and Foresight Maroš Šefčovič said. “By integrating Ukraine in EU value chains, we will diversify our supplies, strengthen our industrial base, while helping reconstruct Ukraine’s war-torn economy. This will also contribute to our efforts to prevent raw materials from being weaponized.”
The document was signed in the context of the EU Raw Materials Week 2022 which is taking place from 14 to 18 November.
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