National Nuclear Generating Company Energoatom has received from the European Atomic Energy Community (Euratom) a 100 million euros tranche of a loan allocated for the implementation of a program of safety measures at power units of nuclear power plants (NPP), the company said on July 24.
This is the third tranche transferred within the loan agreement concluded with Euroatom in 2013 and ratified by the Verkhovna Rada of Ukraine in May 2014.
The contract with Euroatom was concluded for a total amount of 300 million euros and took effect in late May 2015. Energoatom told Interfax-Ukraine that taking into account the third tranche it has received 200 million euros.
The company also said that the second creditor is the European Bank for Reconstruction and Development (EBRD), with which a contract was signed for the same amount of 300 million euros and took effect in December 2014.
“Taking into account the fact that the total amount of the loan is 600 million euros, this is the largest loan in the history of Ukraine’s energy sector raised from European institutions for the development of the sector,” it said.
Energoatom also said that one of the most important conditions for receiving the loan was independence of the State Nuclear Regulatory Inspectorate of Ukraine.
“Ukraine fulfilled this requirement by adopting the law on amendments to some laws of Ukraine regarding safe use of nuclear energy and returned the status of a state responsible for nuclear safety, and Energoatom got an opportunity to continue using Euroatom’s loan,” the company said.
