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Ukraine Received A Loan Of €100 Million From Euratom (EAEC) To Improve The Safety Of Nuclear Power Plants

Ukraine Received A Loan Of €100 Million From Euratom (EAEC) To Improve The Safety Of Nuclear Power Plants

Ukrainian state enterprise Energoatom received €100 million from the European Atomic Energy Community (EAEC) for the implementation of a Comprehensive (consolidated) program to improve the safety of Ukrainian nuclear power units, approved by the government in 2011, according to the press service of the state-owned company on its website.

"The loan agreement for €300 million for the implementation of this program came into force at the end of May 2015. Taking into account the agreement with the second lender of the program-the European Bank for Reconstruction and Development (EBRD), the total amount of the loan amounted to €600 million, and this is the largest loan in the history of Ukrainian energy from European institutions," Energoatom said in a statement.

The press service added that this is the third tranche of the loan agreement signed with Euratom in 2013 and ratified by the Verkhovna Rada in May 2014.

The program for improving the safety of nuclear power units was developed by the state company taking into account the stress tests conducted at Ukrainian nuclear power plants after the accident at the Japanese Fukushima-1 plant and sets the scope of measures to be carried out at all nuclear power units in the country to bring their safety level to international standards. Energoatom receives funds for this program from the sale of electricity generated by nuclear power plants and from loans provided by the EBRD and Euratom.

The statement notes that Euratom and the EBRD have imposed strict conditions on Ukraine. One of the most important measures is to ensure the independence of the State nuclear regulatory Inspectorate of Ukraine. This requirement was met when the Verkhovna Rada adopted the relevant bill at the end of May 2020.

The press service of the company emphasizes that in this way Ukraine regained its status as a state responsible for nuclear safety, and Energoatom was able to continue using the Euratom loan.

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