KIEV, Dec. 2 – Governors of the European Bank for Reconstruction and Development have approved additional funding worth EUR 350 million for the completion of the Chernobyl New Safe Confinement on the site of the 1986 nuclear accident, the EBRD said in a statement.

The EBRD will provide this additional sum in anticipation of a EUR 165 million contribution by the G7/European Commission. The G7 are also organizing a pledging event for other potential donors that is due to take place in the spring of 2015, aiming to raise a further EUR 100 million which would close the entire funding gap of EUR 615 million. EBRD Governors confirmed that should third-country pledges amount to less than EUR100 million, the difference would be covered by the Bank.