EBRD to lend 300 mln EUR in Ukraine's nuclear safety

The European Bank for Reconstruction and Development has decided to have a hand in comprehensive safety enhancement program for the operating nuclear reactors in Ukraine through a 300-million-euro loan.

 "The program will bring Ukraine's nuclear power plants in line with international safety standards, including those of the International Atomic Energy Agency," the EBRD Board of Directors said in a statement. The bank's largest loan-funded nuclear safety project to date will include up to 87 safety measures - from the replacement of equipment in safety systems and improvements of their instrumentation and control to organizational improvements for accident management. The upgrade is to be completed by the end of 2017. Euratom, the European Atomic Energy Community, will also contribute 300 million euros to the 1.4-billion-euro program. "With its contribution to this vital program the EBRD does not only play a crucial role in the implementation of the safety upgrade, but also exercises its responsibility as a committed long-term partner of Ukraine," the statement quotes Riccardo Puliti, EBRD Managing Director for Energy and Natural Resources, as saying. The Ukrainian government said earlier that the program would help the country to bring the safety level of nuclear power plants up to international standards, and would ensure the full implementation of Ukraine's international obligations regarding nuclear safety. Ukraine has four operational nuclear power plants with fifteen generating units outfitted with water-cooled fast-breeder reactors. Their aggregate installed generating capacity is 13.8 gigawatts.