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The European Bank for Reconstruction and Development has decided to participate in a comprehensive safety upgrade programme for the operating nuclear power units of Ukraine with a €300 million loan, the EBRD message says.
The relevant decision was taken by the EBRD Board of Directors at the meeting on March 12.
“The programme will bring the fleet of Ukraine’s nuclear power plants in line with international safety standards, including those of the International Atomic Energy Agency,” the message reads.
As noted, the project is the largest loan-funded nuclear safety project for the EBRD to date. Depending on reactor type, the project includes up to 87 safety measures addressing design safety issues comprising the replacement of equipment in safety relevant systems, improvements of instrumentation and control for safety relevant systems and the introduction of organisational improvements for accident management.
“With its contribution to this vital programme 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. Our engagement is in line with the Bank’s energy policy to support the safety of operating nuclear units with our investments to improve the safety of the power units,” Riccardo Puliti, EBRD Managing Director, Energy and Natural Resources said.
Besides the safety measures, the project will promote reforms in the nuclear energy sector in Ukraine, strengthen the independence and funding of the nuclear regulatory authority and improve its decommissioning and waste management programmes.