EBRD Seeks €500M to Repair Chornobyl Drone Damage

The European Bank for Reconstruction and Development (EBRD) is requesting a minimum of €500 million ($545 million) to restore the protective shelter at Ukraine’s Chernobyl nuclear power plant, which was severely damaged by a Russian drone strike in February 2025. The New Safe Confinement, a massive steel structure covering the remains of Reactor Four, suffered damage when the shelter’s inner and outer layers were punctured during the attack, putting systems in place to contain radioactive material at risk.

The EBRD estimates the repair costs will be at least €500 million, with the G7 nations committing €260 million in October. Odile Renaud-Basso, the president of the EBRD, emphasized that this issue is not just a Ukrainian problem, calling for global concern over nuclear safety. She warned that repairs need to be finished by 2030 to prevent corrosion beneath the steel arch, which could complicate handling radioactive material.

Renaud-Basso stressed that funding for the repairs should not be seen as competing with other necessary aid for war-torn Ukraine, but should be viewed as an investment in global nuclear safety. France, Ukraine and the EBRD will co-lead a donor conference in Paris on November 9 to raise additional funds, though the bank does not expect to raise the entire amount immediately.

The EBRD aims to secure enough money for contract awards and the beginning of major restoration work by 2028, with repairs anticipated to take around two years. Despite Russia's responsibility for the drone strike, the EBRD does not anticipate Moscow to contribute to the costs. Instead, the bank suggests these expenses could potentially be recouped through potential future war reparations.