Credits and guarantee to provide Energoatom with loans totaling EUR 600 million, signed in 2013, were ratified by the Ukrainian Parliament in mid-May.
Borrowings will be used to improve the safety of Ukrainian nuclear power plants.
The Safety Upgrade Project (SUP) programme to improve the operational safety and reliability of Ukraine's nuclear power plants costs UKR 20.1 billion, or EUR 1.9 billion. The remaining EUR 990 million will be contributed by Ukraine through an increased electricity tariff, according to Energoatom.
The programme of works is designed to carry out recommendations from a joint EC-IAEA-Ukraine design safety review in 2008-10, plus measures resist external natural events, measures that were specified in the EC peer review process, in which Ukraine participated.