EU to help Ukraine upgrade geological data management

BRUSSELS. Nov 18 (Interfax) - The European Bank for Reconstruction and Development (EBRD) and Ukrainian Geological Survey have signed a memorandum of mutual understanding to assist in upgrading geological data management in Ukraine.

"Raw materials, critical for green and digital economies, can be found in abundance in Ukraine. [...] By integrating Ukraine in EU value chains, we will diversify our supplies, strengthen our industrial base, while helping reconstruct Ukraine's [...] economy," European Commission Vice-President Maros Sefcovic, who took part in the signing ceremony, said.

The European Commission said in a communique that the memorandum had been signed in furtherance of EU-Ukraine strategic cooperation in the field of mineral resources.

"By digitalizing geological data, including documents and maps, we [the EU] will help improve the governance, transparency, regulation as well as access for investors," the communique said.

The EU-Ukrainian Strategic Partnership on Raw Materials and Batteries was launched by Vice-President Sefcovic and Ukrainian Prime Minister Denis Shmygal in July 2021, it said.