Washington: Cable News Network (CNN) founder Mr Ted Turner has announced the establishment of a new charitable organization, with a commitment of $250 million over the next five years, dedicated to reducing the global threat of nuclear and other weapons of mass destruction. Addressing a press conference here recently, former Democratic Senator Mr Sam Nunn, who will co-chair the venture with Mr Turner, said the billionaire businessman-philanthropist has pledged at least $50 million a year over the next five years in funding. Mr Turner said the organization would be international in scope, serving as both a catalyst for action and a sponsor of pilot projects that could be replicated on a larger scale. He termed the effort "urgent," given the continued risk of a nuclear exchange through accident or miscalculation, compounded by "serious concerns about the security of (stockpiled) weapons and bomb-making materials."

The project grows out of a recently completed study directed by Mr Nunn and Mr Charles Curtis, a former US deputy secretary of energy, which assessed the impact that a well-funded private organization could have on reducing the risk of use of weapons of mass destruction and stemming the proliferation of nuclear weapons, materials and know-how.