You're reading: Parliament ratifies guarantee agreements on EBRD, Euratom’s loans for Energoatom worth 600 million euro

The Ukrainian parliament has ratified guarantee agreements on loans with the European Bank for Reconstruction and Development (EBRD) and Euratom worth EUR 600 million in total to be issued to National Nuclear Generating Company Energoatom.

A total of 239 and 227 lawmakers supported the relevant bills on May 15.

Energoatom signed loan and loan guarantee agreements with the EBRD and Euratom on March 25, 2013 and August 7, 2013, respectively.

As reported, the program is aimed at brining safety at the Ukrainian nuclear reactors in line with international obligations and at ensuring the fulfillment of Ukraine’s international commitments to enhance safety at the operating NPPs. Expenses on the fulfillment of the program are reviewed on a yearly basis.

In September 2013, the Cabinet revised upwards the costs of the program designed for 2012-2017, which were increased by 34.5 percent, or UAH 4.298 billion, to Hr 16.751 billion (without VAT).

The financing of the program was increased by Hr 6.298 billion, to Hr 10.751 billion from Hr 4.453 billion at the expense of Energoatom’s funds, while funding with loans borrowed from the EBRD, Euratom and other banks was reduced by Hr 2 billion, to Hr 6 billion from Hr 8 billion.

Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates 15 power units equipped with water-cooled power reactors with a total installed electrical capacity of 13.835 GW.