Russia has agreed to provide 85 percent of the fund for the first-ever nuclear power plant in Bangladesh.

“They [Russia] will give us the money as state credit. It will be a soft loan," State Minister for Science and Technology Yeafesh Osman has said.

Bangladesh will further negotiate with Moscow to get the entire amount -- Tk 12,000 crore to 15,000 crore — estimated for building the plant at Rooppur in Pabna.

He was talking to The Daily Star last week on return from a visit to the Russian capital.

A crucial deal on nuclear radiation safety control was inked during the trip.

Under the deal, Yeafesh said, Russia would extend full support in forming a regulatory body to handle the safety issue of the 1,000-megawatt project.

In another major outcome of his weeklong visit late last month, Bangladeshi students will get scholarships to study nuclear science and technology at a specialised university in Russia.

Besides, teachers from the Russian university will visit Bangladesh to teach students at Dhaka University and Buet.

DU and Buet will sign separate Memorandums of Understanding with Russian National Research Nuclear University.

"This programmes are essential to create local expertise,” Yeafesh said.

He added that the government was also planning to establish an info-centre like the one in Russia to inform people everything about a nuclear power plant. The centre may be set up at the Russian Culture Centre in Dhaka.

According to official sources, Bangladesh has made a considerable progress in the last three years in meeting the requirements

specified by the International Atomic Energy Agency (IAEA) for building a nuclear plant to resolve the country's energy crisis.

A number of deals, framework agreements and MoUs have already been signed with Russia for peaceful use of nuclear power, technologytransfer, development of human resources, and supply of required fuel and taking spent fuel back.

The government will pass a law and form an independent regulatory body to carry out IAEA suggestion to form a legal structure for implementing a nuke project, the sources add.

Yeafesh said the draft Bangladesh Atomic Energy Regulatory Act would be placed in a coming parliamentsession.

Managing the huge cost to set up the plant was a major hurdle to overcome. Russian financial assurance has ended that uncertainty.

A final deal on the plant is expected to be signed within this year, aiming to commission it by 2017.

The state minister said, "We are trying to complete all preparatory work in a quickest possible time so that the deal can be struck during the prime minister's

Russia visit later this year.”

Back in 1961, the then government had decided to build a nuke plant and accordingly acquired 292 acres of land — 260 acres for a nuclear plant and 32 acres for offices and residences — in Ishwardi upazila ofPabna.