United States provides $250 mln in political risk insurance for nuclear fuel storage facility project in Chornobyl

United States provides $250 mln in political risk insurance for nuclear fuel storage facility project in Chornobyl

U.S. Overseas Private Investment Corporation (OPIC) and Ukraine’s State Enterprise National Nuclear Energy Generation Company Energoatom have signed an agreement on $250 million in political risk insurance on the construction of the Central Spent Nuclear Fuel Storage Facility in Ukraine.

The solemn signing ceremony was held in Washington on Wednesday, and Ukrinform correspondent reports.

“This made it possible to reduce the credit rate for Ukraine, and investors from the U.S. stock market gave guarantees that they would have an opportunity for a long 20-year period not only to recover their funds but also make a stable profit," President of NNEGC Energoatom Yuri Nedashkovsky told Ukrinform following the signing of the agreement.

After the construction of the plant in the Chornobyl zone, Ukraine will not spend hundreds of millions of dollars annually on the shipment and storage of spent nuclear fuel to Russia. In addition, according to Nedashkovsky, Ukraine continues close cooperation with U.S. companies, and with the support of the U.S. Department of Energy, it has achieved significant success in other areas in the energy sector.

OPIC President Ray Washburne, in turn, said that the U.S. side is interested in Ukraine's achieving actual independence in the energy sphere.

Ambassador of Ukraine to the United States Valery Chaly, for his part, stressed that the assistance from the U.S. government and the construction of the plant give new opportunities for developing cooperation with the United States.


While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2019 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: