Law of Ukraine

"On Ratification of the Agreement (in the Form of Exchange of Notes) between Ukraine and the European Bank for Reconstruction and Development on Amendments to the Framework Agreement between Ukraine and the European Bank for Reconstruction and Development Relating to the Activities of the Chernobyl Shelter Fund in Ukraine of November 20, 1997"

Date of entry into force:
June 1, 2014

The Framework Agreement between Ukraine and the European Bank for Reconstruction and Development Relating to the Activities of the Chernobyl Shelter Fund in Ukraine was signed on November 20, 1997 and ratified by the Law of Ukraine N 80/98-VR of February 4, 1998.

Article 1 of the Framework Agreement between Ukraine and the European Bank for Reconstruction and Development Relating to the Activities of the Chernobyl Shelter Fund in Ukraine established the following:
  • the European Bank for Reconstruction and Development (hereinafter referred to as "Bank") intends to provide grant financing from the sources of the Chernobyl Shelter Fund (hereinafter referred to as "Grants") to finance implementation of the components of the Shelter Implementation Plan (SIP) by providing technical assistance, as well as acquiring, installing and commissioning equipment;
  • provision of Grants will depend on the availability of assets invested into the Fund, and on their approval by the Fund's competent bodies;
  • the Grants will be provided to the Chernobyl Nuclear Power Plant. Additionally, a Grant can be made available by the Bank directly to the Administration of Nuclear Regulation, to the extent to which it takes part in activities to implement the SIP.

The Agreement between Ukraine and the European Bank for Reconstruction and Development on Amendments to the Framework Agreement between Ukraine and the European Bank for Reconstruction and Development Relating to the Activities of the Chernobyl Shelter Fund in Ukraine of November 20, 1997 (hereinafter referred to as "Agreement") was concluded in the form of exchange of notes.

The Constitution of Ukraine (Article 85, paragraph 32) states that the Verkhovna Rada of Ukraine provides consent for Ukraine to be bound by international agreements. And, according to Article 9 of the Law of Ukraine "On International Agreements of Ukraine", the Agreement is subject to ratification.

The Law ratifies the Agreement.

The Agreement envisages amending Section 1, paragraph d of the Framework Agreement between Ukraine and the European Bank for Reconstruction and Development Relating to the Activities of the Chernobyl Shelter Fund in Ukraine, according to which provision of Grants from the Fund's resources will be supplemented with Ukraine's resources. Such resources will be provided in form of property contribution or in other forms, at all stages of the SIP implementation. Ukraine assesses such resources as USD 167.563 million (formerly, USD 104.163 million).

The Law aims to increase Ukraine's contribution to the Chernobyl Shelter Fund.
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