Thursday, March 5, 2009

Buffett-Backed Atomic Fuel Bank Founders at UN Agency

http://www.bloomberg.com/apps/news?pid=20601109&sid=aWS7hCi1PN3Y&refer=home
Billionaire Warren Buffett's plan to help the United Nations create a safe supply of enriched uranium is foundering because countries fear it will restrict their development of nuclear technology, officials and diplomats say.

Resistance among some emerging-market countries on the International Atomic Energy Agency's 35-member board of governors is threatening to derail a $150 million plan that includes a $50 million pledge from Buffett and the rest from donors including the U.S. and the European Union, according to two UN officials and two diplomats with firsthand knowledge of the talks.