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World Bank to end ban on nuclear energy projects, still debating upstream gas
- On Wednesday, Ajay Banga, President of the World Bank, revealed that the institution will resume financing nuclear power initiatives in developing nations, ending a policy that had prohibited such investments for many years.
- The ban had been in place since 2013, prompted by safety concerns after the 2011 Fukushima disaster and geopolitical risks surrounding nuclear power.
- This decision aligns with a global surge in nuclear support as over 20 countries signed a 2023 pledge to triple nuclear capacity and emerging markets seek clean energy financing.
- Jennifer Gordon highlighted that this decision indicates renewed openness among financial institutions toward nuclear energy, underscoring its role in helping the U.S. compete more effectively with Russia and China in financing new nuclear projects.
- The policy reversal could accelerate emissions-free power projects in developing nations and support industrial growth without increasing fossil fuel dependence.
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Nuclear Energy Back On The Table As World Bank Lifts Funding Freeze - District Metals (OTC:DMXCF)
The World Bank lifts ban on nuclear energy funding in developing countries, citing demand for low-emission energy and countries' right to determine their own energy mix. US hopes to gain competitive edge in exports and deployment.
·New York, United States
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The World Bank wants to re-engage in the financing of nuclear power.
·Germany
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Coverage Details
Total News Sources58
Leaning Left3Leaning Right10Center9Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
14%
C 41%
R 45%
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