The ITER project aims to replicate the process that powers the sun, and is a collaboration between the EU and other states. – Reuters Photo

BRUSSELS: The European Union has agreed to pump an extra 1.3 billion euros over the next two years into an international project to develop nuclear fusion technology, the bloc's executive said on Thursday.

Most of the extra funding for the International Thermonuclear Experimental Reactor (ITER) will come from cutting EU administrative spending and funding for other policy areas, such as farming, fisheries and environmental protection, the European Commission said.

“I am relieved that the extra financial needs of ITER are now covered. The EU could not afford to lose credibility vis--vis its international partners involved in the project,” EU Budget Commissioner Janusz Lewandowski said in a statement.

The ITER project aims to replicate the process that powers the sun, and is a collaboration between the EU, the US, China, Japan, South Korea, Russia and India.

The EU is the main financial contributor to ITER, which is being built in Cadarache, southern France. The overall budget has risen to 16 billion euros thanks to spiralling construction costs.

Agreement on the extra funding was reached after talks between EU governments and lawmakers in the European Parliament.