Date: Tue, 3 Sep 1996 10:10:54 
 
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Status: R

Sept 2, 1996 (Reuter) - Ukraine and the European Bank for  
Reconstruction and Development (EBRD) are close to signing an 
agreement to pay for the closure of the Chernobyl nuclear
power  plant, an EBRD official said on Monday. Joroslav
Kinach, EBRD resident representative, said it was difficult to
determine exactly how much money the agreement was worth but
said wealthy Group of Seven (G7) nations have agreed to fund
up to $3 billion so that  Ukraine can close the plant by the
year 2000. Kinach said the money would pay for Ukraine to
replace electricity lost by Chernobyl's closure through
construction of two new reactors at Khmelnitsky in southwest
Ukraine and Rivne in western Ukraine, repair the concrete
sarcophagus encasing the  damaged fourth reactor and store
nuclear fuel rods.