A three-day international conference was held in Kiev, Ukraine on Tuesday that raised $788 million of pledges to help build a temporary encasement at the site of the Soviet-era Chernobyl nuclear power plant that exploded 25 years ago.
Falling short of the $1 billion target, the project that will seal the plant from releasing radioactive materials during the dismantling of the sarcophagus was delayed for three years due to budgetary constraints, said Al Jazeera.
Ukrainian president Viktor Yanukovich said, "This is what we have been able to raise through joint efforts and we consider this figure preliminary-$788m (€550m)."
The report said that the funds came mostly from EU and the European Bank of Reconstruction and Development.
Chernobyl's Nuclear Reactor 4 blew up after a test systems went wrong in 26 April 1986.
More than 200 tons of nuclear substances are feared being released into the air as the plant's structures slowly disintegrate.
At least 31 nuclear plant employees died as a direct result of the radiation accident. Russia said that over 985,000 radiation-related deaths occurred between 1986 and 2004.
Japan, which has been struck by the most expensive disaster in recent history, would not be able to contribute to the funds.
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