The Ministry of Economy and Environment of Ukraine and the European Bank for Reconstruction and Development (EBRD) have signed a Letter of Intent on cooperation in the field of development of innovative technologies in Ukraine. The document defines the key areas of joint work for the next five years.
The signing took place during the meeting of the Minister of Economy and Environment of Ukraine Oleksandr Kravchenko with the President of the EBRD Odile Renou-Basso.
“In recent years, the technology sector of Ukraine has developed extremely rapidly, and now it is important to turn this experience into a long-term competitive advantage. We need strong technology companies that create products with high added value, grow in Ukraine and strengthen our position in European and global markets. This is exactly the result we are counting on in cooperation with the EBRD,” said Oleksandr Kravchenko, Minister of Economy and Environment of Ukraine.
One of the key areas of cooperation is the development of dual-use technologies and expanding opportunities for their civilian application. In particular, we are talking about the use of such technologies in industry, logistics, energy, agrotechnology, civil aviation, manufacturing, cybersecurity and digital services.
Another area is the integration of Ukrainian technology companies into European and global value chains. To this end, the parties will work on the implementation of standards and preparation for certification in accordance with European requirements, as well as the development of partnerships between Ukrainian and European companies.
The cooperation also involves identifying mechanisms to support innovative enterprises and SMEs – from business planning, product development and preparation for attracting investments to scaling and commercial development.
Such an approach will help accelerate the commercialization of Ukrainian technologies, attract private investment and create more high-paying jobs.
Separately, during the meeting, the parties discussed the priorities for further cooperation between Ukraine and the EBRD. These include the Bank’s potential participation in financing the War Risk Insurance Fund and expanding EBRD programs for the private sector within the Ukraine Investment Framework (UIF).
Also in focus are privatization and reform of state-owned enterprises, financing of the processing industry, and the restoration of enterprises affected by the war. (Economy Ministry)