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  • Art and ITER | Two sisters, two suns and a monument to fusion

    Amid the gentle slopes of Asciano, Italy, there stands a stone window that frames the Sun on the summer solstice. It looks as though it might have always been t [...]

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  • Staff | The men and women of ITER

    They hail from Ahmedabad and Prague ... from Naka and Moscow ... from Seoul, Hefei, Atlanta and hundreds of other towns and cities across the 35 nations partici [...]

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  • ITER Talks | All about ITER and fusion

    Beginning this autumn, the ITER Organization will be launching a new video series to inform, inspire and educate. The first video—introducing the series and off [...]

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  • Image of the week | A majestic components enters the stage

    The floor of the Assembly Hall is an ever-changing stage. Like characters in a grand production, components of all size and shapes make a spectacular entry, pl [...]

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  • Magnet system | A set of spares for the long journey

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Of Interest

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Money talks

''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget. (Click to view larger version...)
''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget.
Why was it necessary to invent the ITER Unit of Account, or IUA? What is the difference between the planned value of ITER and its actual cost? Does ITER earn interest on the funds it holds, and —if so—where does this money go?

Hans Spoor, Head of Finance & Budget, addressed these questions and more at this week's Inside ITER seminar. Entitled "Everything you wanted to know but were afraid to ask about ITER finances," the audience was introduced to the specificities of ITER financing by its Members, budget planning and procedures, and principles of ITER accounting.

ITER construction will be managed within an agreed capped ceiling of 4700 kIUA. "Converted to euros at 2010 conversion rates (1 IUA = 1,552.24 euros), that's EUR 7.3 billion," demonstrated Hans. "ITER construction costs are equivalent to less than 20 euro cents/year for the inhabitants of the ITER Member countries."


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