The Chernobyl Shelter Fund (CSF) was set up in December 1997 with the purpose of funding the Shelter Implementation Plan (SIP). The main objective of the SIP, developed in a co-operative effort between the European Union, the United States and Ukraine, is to protect the personnel, population and environment from the threat of the huge radioactive inventory of the Chernobyl Unit 4 Shelter. At the end of the eight- to nine-year project, estimated to cost US$ 768 million, the Shelter will be transformed into a stable and environmentally safe system for an estimated 100 years. The most visible aspect of this transformation will be the construction of the New Safe Confinement. The European Bank for Reconstruction and Development (EBRD) was entrusted with managing the CSF.