The European Bank for Reconstruction and Development (EBRD) said Wednesday that funding needed to complete the construction and implementation of a New Safe Confinement (NSC) structure was raised at an international donor conference.

This structure, expected to be completed by 2017, will cover Reactor 4 that was destroyed in the nuclear incident at Chernobyl. The new funds will allow work that is ongoing to continue as additional funding is acquired. The project aims to mitigate the damage to Chernobyl and make it an environmentally safe area.

"We are very pleased with the outcome of this conference and grateful to all donors for their contributions at a time when national budgets are tight," EBRD President Suma Chakrabarti said. "The additional funds will allow us to keep the project on track and gives us confidence that the New Safe Confinement can be delivered on time and on budget.”

The structure will be equipped with cranes and other equipment in order to dismantle the ruined facility and to manage radioactivity and waste at the site. 

So far, 43 governments have contributed to the Chernobyl Shelter Fund.