Energoatom finishes work to attract EUR600 mln loan from EBRD and Euratom

On May 28 NNGEC "Energoatom" received a notification from the European Atomic Energy Community (Euratom) on the entry into force of the loan agreement signed on August 7, 2013 and ratified by the Parliament in May 2014 regarding a EUR300-million loan from Euratom for the implementation of the Complex (Consolidated) Safety Upgrade Program of Ukrainian Power Units of Nuclear Power Plants.

Thus, taking into account the credit agreement with the second partner and lender of Power Units of Nuclear Power Plants – the European Bank for Reconstruction and Development, which entered into force on 19 December 2014, the work on attracting a loan from the EBRD and Euratom, valued at 600 mln euros, can be considered complete.

"The Comprehensive Program is a top-priority program for Energoatom. It is being financed by funds from the electricity transmission tariff set for the company. Loans from EBRD and Euroatom would help accelerating this work. We should say that Energoatom received the largest loan in the energy sector for the whole history of Ukraine, which is evidence of large trust of European institutions as EBRD and Euroatom to Ukraine's nuclear power generation. I would like to thank everyone who took part in the hard work on the fulfillment of tough conditions of Euroatom and EBRD, without which the loan agreements would not have taken effect," Energoatom President Yurii Nedashkovsky underlined.

The program, which is credited by the EBRD and Euratom, will bring the safety levels of the Ukrainian nuclear units in line with the highest international requirements and ensure full implementation of international obligations of Ukraine to improve the safety of existing nuclear power plants.