BRUSSELS — The European Bank for Reconstruction and Development says it faces a €500 million shortfall for emergency repairs to the Chernobyl reactor in Ukraine. It warned that international funding is needed to avert a potential environmental disaster after damage from Russian attacks. The EBRD is seeking the money to restore the giant steel structure built over the remains of Reactor 4, which exploded in 1986. Damaged by a Russian drone strike in February 2025, the structure — known as the New Safe Confinement — protects the reactor's remains and allows radioactive material to be managed safely. “It's not a Ukrainian problem,” EBRD President Odile Renaud-Basso told POLITICO in an interview.
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