TASHKENT, Uzbekistan, November 26. The European Bank for Reconstruction and Development (EBRD) and the European Union signed a 3 million euro grant agreement to support the development of critical raw materials (CRM) in Central Asia, the bank said, Trend reports.
The agreement, signed at the 3rd European Union - Central Asia Economic Forum in Tashkent by EU Commissioner for International Partnerships Jozef Síkela and EBRD Vice President for Banking Matteo Patrone, will fund the replenishment of the CRM technical assistance facility.
The grant aims to assist governments and private businesses in expanding activities related to the exploration, extraction, processing, and refining of CRMs across the region. The technical cooperation funds will also support harmonising national standards with international and EU environmental, social, and governance (ESG) standards.
“The facility will help employ best practices and sustainable technologies in the critical raw materials sector, enhancing regional capacity and compliance with global standards,” the EBRD said.