World Bank Lifts Ban on Nuclear Energy Funding
The World Bank has ended its ban on funding nuclear energy projects in developing nations to address rising electricity needs. While engaging in gas projects remains uncertain, the revised strategy supports various energy sources, including nuclear, with safety measures ensured by collaborating with the International Atomic Energy Agency.
The World Bank announced its decision to lift a longstanding ban on nuclear energy project funding for developing countries, aiming to tackle the increasing electricity demands, as per President Ajay Banga.
This move marks a pivotal shift in the bank's energy policy, with no consensus yet on including upstream natural gas projects under certain conditions.
Collaborating with the International Atomic Energy Agency, the bank aims to strengthen non-proliferation, safety, and regulatory frameworks while adapting to diverse energy needs.
(With inputs from agencies.)
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