Nuclear Energy Back On The Table As World Bank Lifts Funding Freeze

The World Bank has lifted its ban on funding nuclear energy projects in developing countries. Its president, Ajay Banga, announced the decision on Wednesday, opening the door to financing a sector increasingly seen as a solution to meeting demand for reliable, low-emission energy.

"While the issues are complex, we've made real progress toward a clear path forward on delivering electricity as a driver of development," Banga said, according to Reuters.

"Countries must be able to determine their own energy mix," he added, clarifying the bank's willingness to support natural gas infrastructure when it aligns with development and climate goals.

Although the World Bank formally halted its support for nuclear power in 2013, the policy had been in place for over six decades—the bank's last nuclear investment was in 1959, when it ...