World Bank: Nuclear Energy Financing Resumes
- The World Bank is re-engaging with nuclear energy, President Ajay Banga announced, marking a shift after decades of abstaining from the sector.The move aims to address the surging...
- Banga, in a memo to staff, said the bank will partner with the International Atomic Energy Agency (IAEA) to bolster non-proliferation safeguards and regulatory frameworks.
- Annual investment in energy generation, grids, and storage must rise from $280 billion to $630 billion, Banga noted.
After years of avoiding the sector,the World Bank now resumes nuclear energy financing. President Ajay Banga’s decision aims to meet the burgeoning electricity needs of developing nations, marking a meaningful shift in energy policy. The bank will collaborate wiht the IAEA, strengthening non-proliferation safeguards and regulatory frameworks. Projected demand necessitates a massive surge in energy investment. The World Bank plans to support extending reactor lifespans and accelerate Small Modular Reactors (SMRs). This strategic move, championed by Banga, signals a commitment to providing viable energy options. News Directory 3 delivers this breaking story. The U.S. Treasury Secretary supports prioritizing dependable technologies.The board has yet to reach a consensus on upstream gas projects. This could influence other financial institutions and accelerate nuclear power adoption. Discover what’s next …
World Bank to resume Nuclear Energy funding After Years-Long Hiatus
Updated June 16, 2025
The World Bank is re-engaging with nuclear energy, President Ajay Banga announced, marking a shift after decades of abstaining from the sector.The move aims to address the surging electricity needs of developing nations.
Banga, in a memo to staff, said the bank will partner with the International Atomic Energy Agency (IAEA) to bolster non-proliferation safeguards and regulatory frameworks. Electricity demand in developing countries is projected to more than double by 2035, requiring a significant increase in energy investment.
Annual investment in energy generation, grids, and storage must rise from $280 billion to $630 billion, Banga noted. The World Bank intends to support the extension of existing reactor lifespans and grid upgrades.
The bank will also accelerate the progress of Small Modular Reactors (SMRs) to provide more countries with a viable energy option. Banga,who assumed leadership in 2023,has advocated for changes in the bank’s energy policy.
“The goal is to help countries deliver the energy their people need, while giving them the versatility to choose the path that best fits their development ambitions,” Banga said.
the institution will continue to finance the retirement or repurposing of coal plants and support carbon capture technologies. The U.S. Treasury Secretary Scott Bessent previously suggested the World Bank should prioritize “dependable technologies” to boost energy access in emerging economies.
Bessent also praised the bank’s efforts to ease restrictions on nuclear energy support. Banga added that the board has yet to reach a consensus on engaging in upstream gas projects.
What’s next
The World Bank’s renewed focus on nuclear energy could pave the way for increased investment in the sector, perhaps influencing other financial institutions and accelerating the adoption of nuclear power in developing nations.