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Khmelnitsky 2 and Rivne 4 are two partially built, Russian designed
nuclear reactors in Ukraine. The Ukrainian government has proposed
a project to complete the reactors at Rivne and Khmelnitsky (K2/R4)
as a compensation for Chernobyl nuclear power plant, which is closed
down December 2000.
Significant concerns regarding safety, economic costs and public
participation in the environmental impact assessment process for
this project have been raised. These concerns have led many experts
to conclude that the projects represent such safety and financial
risks that they should not be completed.
Despite this facts, the EBRD Board have made preliminary decision
on 7 December 2000 to support project with $215 million. Being well
aware of the problems associated with the projects EBRD Directors
attached a number of conditions. EBRD decision was followed by European
Commission approval of Euroatom loan of $585 million. More funds
are expected to be released by Russian government and Export Credit
Agencies of UK, Czech Republic, France, Spain, Switzerland and USA.
Total project cost is expected to be $1,48 billion.
Source:
CEE Bankwatch Network
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