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World Bank Makes Nuclear Energy Financing a Priority
The World Bank helps countries pay for projects that improve people’s lives.
Its president, Ajay Banga, now wants nuclear energy to become an important part of that work.
Nuclear power can provide electricity that is reliable and affordable.
The bank had avoided funding nuclear projects for many years.
It is working with the International Atomic Energy Agency to learn more and support nuclear reactors.
The bank is also considering small modular reactors and has received money for a nuclear assistance fund.
At the same time, it plans to stop lending to China by 2031.
Officials say the bank should focus more on poorer countries that need help developing.
World Bank President Ajay Banga has made nuclear energy financing a priority, US Treasury Secretary Scott Bessent told lawmakers.
The World Bank began returning to nuclear energy financing in June 2025 after decades of avoiding the sector.
An agreement with the International Atomic Energy Agency will provide technical expertise, support existing reactors and examine small modular reactors.
A new Nuclear Energy Assistance Trust Fund has received its first contribution, with further US funding under consideration.
The World Bank plans to phase out lending to China by 2031 and redirect resources toward poorer countries needing development assistance.
- Who
- World Bank President Ajay Banga, US Treasury Secretary Scott Bessent, House Financial Services Committee members and the International Atomic Energy Agency.
- What
- The World Bank is making nuclear energy financing a priority while planning to phase out lending to China by 2031.
- Where
- The announcement was discussed in Washington before the US House Financial Services Committee.
- When
- The World Bank began returning to nuclear energy financing in June 2025 and plans to end lending to China by 2031.
- Why
- US officials said nuclear power could provide poorer countries with reliable, affordable and sustainable electricity and support economic development.
Key facts
- World Bank president
- Ajay Banga, who became president in June 2023
- Nuclear financing
- The World Bank began returning to the sector in June 2025 after decades of avoiding it
- International partnership
- The bank reached an agreement with the International Atomic Energy Agency for technical expertise and nuclear-sector support
- Potential technologies
- The bank will examine the potential of small modular reactors
- Nuclear assistance fund
- The bank received its first contribution to a new Nuclear Energy Assistance Trust Fund
- China lending
- The World Bank plans to phase out lending to China by 2031
- IMF discussions
- The International Monetary Fund is holding advanced discussions with China about economic imbalances and risks to global financial stability
Quotes
Scott Bessent
US Treasury Secretary who testified before the House Financial Services Committee
“Mr. Banga, who heads the World Bank, we have made it clear to him that this is a priority. And indeed, he has adopted this as a priority.”
thehansindia.com
“That's why the World Bank's decision to phase out its lending to China by 2031 is an important step in the right direction.”
thehansindia.com
Sources
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