The European Bank for Reconstruction and Development (EBRD) is actively seeking financial support for repairs to the New Safe Confinement structure at the Chernobyl Nuclear Power Plant, which was damaged by a Russian drone strike in February 2025. EBRD President Odile Renaud-Basso emphasized the urgency of securing adequate funding for superficial repairs in the short term, followed by a more substantial investment estimated at €500 million for comprehensive renovations starting in 2027.
Renaud-Basso made these remarks on April 24, during discussions surrounding the 40th anniversary of the Chernobyl disaster, highlighting the opportunity to rally international support for the facility’s repair. She noted, “We have already discussed this extensively with G7 countries to explain the situation, associated risks, and the need for investments and donor funding mobilization. We have received positive feedback, but no financial commitments have been made yet. Countries are working on this.”
The New Safe Confinement, which cost €2 billion to construct, was intended to serve for a century. However, the drone strike compromised its protective functions, leading to subsequent fires and damage. Renaud-Basso stated, “All key functions of this protective structure have been destroyed.” Following the initial superficial repairs, a more fundamental renovation is planned to commence in 2028 and conclude by 2030.
She explained that the timeline is critical to mitigate corrosion risks, particularly due to excessive moisture that could undermine the foundational infrastructure of the New Safe Confinement. “Time is of the essence,” Renaud-Basso added.
In June of the previous year, the Ukrainian Ministry of Environmental Protection and Natural Resources announced that international partners would provide €42.5 million for the restoration of the Chernobyl arch. The fourth reactor at the Chernobyl Nuclear Power Plant exploded in 1986, resulting in the worst nuclear disaster in history. The $2.5 billion dome was constructed in 2019 to prevent further radiation leaks and facilitate the dismantling of the reactor remnants. The structure was struck by a drone in 2025.
The EBRD is seeking urgent funding for repairs to the New Safe Confinement at Chernobyl following damage from a drone strike. A significant investment is needed for comprehensive renovations planned for 2027.