
France pledges 10 mn euros for Chernobyl repair: Europe bank
Christine Lagard, President European Central Bank (AP)
LONDON: France will contribute 10 million euros to help fix a radiation cover at the
Chernobyl nuclear plant
in Ukraine allegedly hit by a Russian drone, Europe's development bank announced Wednesday.
The amount, equivalent to $11.2 million, was unveiled at the annual conference of the
European Bank for Reconstruction and Development
(EBRD) in London.
Ukraine has accused Russia of using an explosive drone to damage the containment vault at the power plant in February, in an attack that did not result in any radiation being released.
In 1986, a reactor at Chernobyl exploded during a botched safety test, resulting in the world's worst nuclear accident, which sent clouds of radiation across much of Europe and forced tens of thousands of people to evacuate.
Following the incident this year, France has offered funds "to support the restoration of the key functions of" the cover, referred to as the New Safe Confinement.
The "strike rendered systems designed to ensure the NSC's 100-year lifespan non-operational and significantly increased the risk of further deterioration in the absence of swift emergency repairs", said the EBRD, established in 1991 to help former Soviet bloc nations embrace free-market economies.
Thanks to funds from France, the EBRD said it "will support measures to repair the external cladding to stop the ingress of water.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
AI guru Andrew Ng recommends: Read These 5 Books And Turn Your Life Around in 2025
Blinkist: Andrew Ng's Reading List
Undo
"In the longer term, work will be carried out to restore the core functionality of the facility to minimise the release of further contaminated dust into the environment," the bank added.
France's pledge adds to the EBRD-managed International Chernobyl Cooperation Account, previously holding 25 million euros in funds.
French President Emmanuel Macron's special envoy for the reconstruction of Ukraine, Pierre Heilbronn, said the contribution "illustrates France's longstanding support for Ukraine.
"French companies played a crucial role in building the NSC (up to completion in 2019), and we hope that this first contribution, which comes only three months after the drone attack, should unlock further pledges from partner countries."
British newspaper The Guardian said the repairs could total tens of millions of euros.
The EBRD on Wednesday said it was too early to precise the cost of fixing the cover.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
32 minutes ago
- Time of India
Quoting DIN (document identification number) not needed in tax notices, clarifies CBIC
New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) Monday clarified that quoting a document identification number (DIN) is not required for communications generated through the common portal of GST, including show-cause tax notices, if they already bear a reference number (RFN). The CBIC had amended its earlier circular that made it mandatory to quote a DIN on all communications sent to taxpayers and other concerned persons. The move was initiated after several taxpayers did not respond to GST notices as they did not bear a DIN. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Wealth Management Firms in The United States SmartAsset Learn More Undo The decision to exempt communication bearing RFN from DIN requirement is based on the fact that RFN is already verifiable through the GST portal, providing details of the document such as date of RFN generation, date of issuing the document, module, type of communication and name of the office issuing the document. "It is therefore clarified that for communications via common portal (in compliance with Section 169 of the CGST Act, 2017) having verifiable reference number (RFN), quoting of document identification number (DIN) is not required and such communication bearing RFN is to be treated as a valid communication," the CBIC circular said. Live Events


Time of India
41 minutes ago
- Time of India
Evaluating 20-25 critical mineral assets in multiple countries: NMDC CMD
Hyderabad: State-owned mining giant NMDC is evaluating 20-25 mining proposals across multiple countries as part of its aggressive international expansion strategy to diversify its portfolio into critical minerals. India's largest iron ore miner ventured into gold mining in 2023 and is now scouting for prospects in critical minerals such as coking coal, lithium, copper and iron ore abroad. These are among the 10 key minerals, including nickel, manganese, nickel, dolomite, bauxite and cobalt, identified by NMDC as key focus area. "These proposals are in different stages of evaluation. We are looking at a couple of iron ore mines, a couple of coking coal mines, a few lithium mines, and one or two copper mines. Most of these are in Africa, Australia, Indonesia, and Brazil," NMDC Ltd chairman & managing director Amitabh Mukherjee told TOI. While refusing to divulge too many specifics citing NDAs (non-disclosure agreements), he said NMDC is particularly active in three to four African countries with an eye on establishing a strong presence in emerging mining jurisdictions. Pointing out that the proposals are at various stage of evaluation with some at desktop study stage, some at technical studies and others at the due diligence stage, he said NMDC has a rigorous evaluation process that typically takes five to six months for each proposal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo While Russia and North America remain potential future markets, he said NMDC is currently concentrating on opportunities in the Southern Hemisphere and emerging economies. This strategic expansion is expected to strengthen NMDC's position as a global mining player while securing critical mineral resources for India's industrial growth, he indicated. In line with this global push, the company is also all set to open its wholly-wned international subsidiary called NMDC Global at GIFT City in Gujarat. The proposed subsidiary will work like NMDC's investment arm and will be the holding company for its overseas investments. Once set up, all its international investments will be made through step-down subsidiaries of this holding company that will be incorporated based as per the local laws of those countries. He said the push into critical minerals marks a significant diversification from NMDC's traditional iron ore focus, positioning the company to capitalise on the growing global demand for materials essential to renewable energy and electric vehicle technologies. On the impact of ongoing global geopolitical tensions and logistical challenges, he said NMDC maintains a long-term perspective on its acquisition strategy. Drawing parallels with NMDC's success in Bailadila, Chhattisgarh, which faced significant infrastructure and Naxalite challenges when operations began 60 years ago, he said the company is focused on evaluating assets based on their intrinsic quality rather than temporary external factors. "Mining business is about creating long-term value. We must evaluate assets on their merit, not just on immediate political or logistical scenarios," Mukherjee said, adding that the approach aligns with NMDC's philosophy of building lasting assets that generate value across generations.


Time of India
41 minutes ago
- Time of India
Centre extends Kusum-C solarproject deadline to March 2026
Bengaluru: Facing multiple hurdles in going ahead with the centrally sponsored PM-Kusum-C solar project, the state govt received a shot in the arm with the Centre extending the deadline for its implementation to March 2026. Launched a year ago, Karnataka was supposed to solarise 389 power substations under all five electricity supply companies (Escoms) by Dec 2024. However, the state govt commissioned only about 15 stations, while the work on 370 plus substations is still in progress under PM-Kusum-C (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan). CM Siddaramaiah is scheduled to inaugurate one of the commissioned stations at Gauribidanur in Chikkaballapur district Thursday. The slow pace of the project in Karnataka is largely attributed to the delay in identifying and acquiring suitable land for setting up solar plants. "The solar plants need to be within a radius of 5-10km from substations, making it easier for the evacuation of power. While in some villages there was govt land, in some other villages, the govt land was not suitable for setting up solar plants, and we had to acquire private land on a lease basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Even if there was land, the project agency spent considerable time levelling the ground for setting up solar plants. These hurdles in getting suitable land impacted the project considerably," explained a senior energy department official. This apart, drawing of transmission lines also turned out to be a major hindrance. "In a few substation limits, the lines had to be drawn over private lands, and farmers were sceptical that they couldn't cultivate any fruit-bearing trees if they allowed any transmission lines over their fields or demanded compensation to allow installation of concrete poles to set up transmission lines... We had to bypass such fields, and eventually, project implementing agencies had to take transmission lines underground at some locations," explained another engineer. Acknowledging the delay in the availability of land, energy minister KJ George said efforts were made in every district by taking MLAs into confidence. "I agree that we could commission only a few of the substations. But nearly 90 per cent of the work is in various stages, and in a month or two, they will also be completed, and generation will start," the minister explained.