U.S. to donate $50 million for fuel bank

WASHINGTON, Aug. 5 (UPI) -- The U.S. Energy Department has pledged $50 million to help establish an international nuclear fuel bank to prevent nuclear proliferation.

U.S. Secretary of Energy Samuel Bodman says the $50 million donation will go to support the International Atomic Energy Agency nuclear fuel bank initiative, designed to provide a secure source of commercial nuclear power and help combat nuclear terrorism, the National Nuclear Security Administration reported.

"Supporting the International Fuel Bank will help assure a safe and reliable supply of nuclear fuel, while also encouraging international cooperation and commitment to non-proliferation," Thomas D'Agostino, NNSA administrator, said in a statement.

"NNSA is committed to safeguarding sensitive nuclear technology to reduce the threat of nuclear proliferation or nuclear terrorism around the globe," D'Agostino said.

Announcing the donation, Bodman called on other nations to contribute to the nuclear fuel bank. Officials say the establishment of a secure nuclear fuel supply is an effort to find an alternative to the expensive protections required for loosely controlled nuclear fuel cycle facilities operated around the world that are targeted by terrorist networks.