World Bank partners with global agency to finance nuclear power

The World Bank has announced it will work with the International Atomic Energy Agency to promote the “safe, secure and responsible use of nuclear energy” after the bank re-entered the nuclear energy financing space for the first time in 60 years. It lifted a ban that has been in place since 1965 when it last financed a nuclear power project.

“We must help countries deliver reliable, affordable power. That’s why we’re embracing nuclear energy as part of the solution — and re-embracing it as part of the mix the World Bank Group can offer developing countries to achieve their ambitions,” World Bank president Ajay Banga said in a statement.