500 million euros. This is the minimum cost of repairing the damage caused by the Russians in Chernobyl

This is about the New Safety Coating, which covers the remains of the fourth unit of the power plant - destroyed in the 1986 disaster. Its role is to reduce the risk of radioactive substances entering the environment. The design also enables safe work on the reactor.

EBRD: This is a matter of global security

The bank appeals to the international community to finance the necessary repairs. EBRD President Odile Renaud-Basso emphasized in an interview with Politico that the consequences of the problems in Chernobyl would not only concern Ukraine.

This is not Ukraine's problem. Everyone should care about nuclear safety in the world, she said.

According to Renaud-Basso, the work should be completed before 2030. Otherwise, moisture and corrosion can further weaken the structure. This, in turn, will make it more difficult to secure radioactive materials and increase the costs of the entire operation.

The G7 has already pledged some funds

A full technical assessment of the damage is still ongoing, so the final bill may change. However, the EBRD estimates that at least half a billion euros will be needed. In October, the G7 countries pledged EUR 260 million, which is more than half of the currently estimated amount.

The bank wants to raise funds so that the renovation can start in 2028. The work itself is expected to take about two years.

Although the damage was the result of a Russian drone attack, the EBRD does not expect Moscow to participate in the ongoing reconstruction financing. However, the bank's president noted that repair expenses may be included in possible Russian war reparations in the future.

The EBRD, established in 1991, brings together, among others, The European Union, the European Investment Bank and 77 countries, including the USA, China and Russia. The institution is one of the main entities financing activities related to nuclear safety in Chernobyl.