Chernobyl Donors Conference Falls Short of Target Pledges

A donors conference aimed at raising money to complete the clean up of the Chernobyl nuclear disaster site made €550 million ($788 million), well below its €740 million target.

The pledges at the conference, held April 19 in Ukraine, include €110 million from the European Commission and approximately €120 million from the European Bank for Reconstruction and Development, as well as pledges from the United States, France, Russia and Germany.

>> EU Pledges Over $150M for Chernobyl Site Safety Work

Japan, one of the highest donors in previous years, did not make a pledge this year as it struggles to contain an ensuing nuclear crisis of its own and recover from last month’s devastating earthquake and tsunami, Bloomberg reports.

Spain, Ireland and Canada declined to offer assistance, citing their own economic constraints or upcoming elections, The Associated Press says.

Despite failing to meet the conference’s target, Ukraine President Viktor Yanukovych said he is optimistic his government will still be able to raise the money needed to make the Chernobyl nuclear accident site environmentally safe by 2015.

Read more development aid news.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.