The Eurasian Development Bank (EDB) is considering the possibility of co-funding the construction of a nuclear-power plant in Armenia. Evgeny Vinokurov, Head of the EDB Economic Analysis and Consulting Department, said the bank is ready to join the project. However, no specific agreements have yet been reached.

“This is a most expensive project, such a reactor is roughly estimated at around US $4bln,” Vinokurov told reporters in Almaty, Kazakhtan. He pointed out that the EDB is also considering the possibility of funding a similar project in Belarus.

Armenia plans to construct a new, 1,200MW, nuclear power plant before the year 2016. The new nuclear reactor is to operate for 60 years, to be refueled every 18 months.