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Cooperation on nuclear safety between the West and eastern Europe began in the early 1990s following the disintegration of the Soviet Union. This focused first on lessons learned from the 1986 Chernobyl accident which had revealed serious design flaws in Soviet-built nuclear power plants of the first generation as well as inefficient management and regulatory structures. At their 1992 Munich summit, the G-7 heads of state and government vowed to support the countries of central and eastern Europe which operate Soviet-designed nuclear power plants. The objective was to improve safety until conditions for early closure had been met. This initiative led to the establishment of the Nuclear Safety Account at the EBRD.
We administer 6 Nuclear safety funds. These have received almost €2 billion in committed contributions:
The funds are managed by our Nuclear Safety Department on behalf of the contributing countries.
Established in 1993, the Department is responsible for all technical, financial, administrative and legal aspects of fund management and compliance with the EBRD's rules and policies, particularly with respect to procurement, environmental protection and public information.
Last updated 28 April 2010