THE KOREAN PENINSULA
ENERGY DEVELOPMENT ORGANIZATION<
PRESS RELEASE #5
May 4, 1999
KEDO AND JAPAN SIGN AGREEMENT ON FINANCING FOR LIGHT-WATER REACTOR PROJECT
The Korean Peninsula Energy Development Organization (KEDO) and the Government of Japan have signed an agreement on the provision of financing for the Light-Water-Reactor Project.
The agreement, which is subject to approval of the Japanese Diet, establishes the modalities related to Japan’s contribution to the Light-Water-Reactor Project. (Last year, Japan committed to provide the yen equivalent to US$1 billion as of October 20, 1998.)
Conclusion of the agreement marks a significant milestone in the process towards entering the major phase of work under the Light-Water-Reactor Project.
Since August, 1997, KEDO has performed extensive preliminary infrastructure work at its project site in Kumho, Democratic People’s Republic of Korea (DPRK). This work, which has involved hundreds of workers, has made very good progress. During the major phase of the project KEDO will significantly increase its work at the site and begin the process of ordering long-lead items required for the project. Through the project, KEDO will supply two light-water reactors to the DPRK.
The agreement was signed by KEDO’s Executive Director, Desaix Anderson, and Japan’s Consul General in New York, Amb. Seiichiro Otsuka.
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
