The Assembly of Contributors is the main governing body of the NDEP. It decides on which projects the Support Fund should give grant allocations to, based on proposals put forward by the Steering Group and the Nuclear Operating Committee.
The Support Fund pools financial contributions from the European Union and partner governments, including Russia, to leverage environmental investment for urgent projects. Projects are prioritised jointly by the NDEP Steering Group and the Nuclear Operating Committee and approved by the NDEP Assembly of Contributors.
The Fund became operational in July 2002 when at least five contributors, including Russia, made pledges totalling €100 million. The Fund is governed by the Rules of the NDEP Support Fund as agreed upon by the EBRD Board of Directors. The NDEP Support Fund is managed by EBRD and benefits from the Bank’s experience with a large number of international projects in Russia, most notably management of five international funds for nuclear safety in Russia and other countries. It is expected that the NDEP Support Fund will be operational until 2017.
Assembly of Contributors
The NDEP Assembly of Contributors is the ultimate governing body of the NDEP Support Fund responsible for the overall policy of the Fund and for deciding on grant allocations. The contributors to the Fund make up the members of the Assembly and IFIs attend the Assembly meetings as observers.
The Assembly meets once a year and is governed by the Rules of Procedure to the Assembly.
The NDEP Steering Group comprises representatives from the European Commission, Russian Federation and International Financial Institutions operating in north-west Russia, namely EBRD, NIB, EIB, NEFCO and the World Bank. The Chair of the NDEP Steering Group rotates among the IFIs each year.
The Group meets regularly to consider, in line with NDEP selection criteria, new funding requests on a project-by-project basis. These are then developed as project proposals that the Assembly considers for grant allocations. The Steering Group also studies the progress achieved to date by on-going projects and discusses policy and strategy issues, including the replenishment of the Fund.
IFIs have a key role within the Steering Group in identifying potential investments, assessing financing capacities and developing new project proposals. They are able to build on their extensive knowledge and experience of working in the region and good client relations.
Nuclear Operating Committee
At its first meeting the NDEP Assembly of Contributors decided to establish, in line with the NDEP Rules of the Fund, a Nuclear Operating Committee (NOC) for the nuclear window regulated by the NOC Mandate. The main task of the NOC is to identify, propose and prioritise projects in the nuclear window which fulfil the objectives of the NDEP Support Fund. It also provides assistance during the implementation of projects and works in close collaboration with the Fund Manager, the Russian Federation and the Steering Group.