World Bank may drop ban on funding nuclear power: Ajay Banga

The head of the World Bank said he asked the lender’s board to reverse its long-standing policy against funding nuclear power projects, saying the technology offers a green option for poor countries.

“The good news is the board has come together and said they’re willing to discuss” the change, World Bank President Ajay Banga said Thursday at an event in Washington, adding that he expects the move to be included in a broader energy policy proposal expected in June 2026.

The Washington-based development lender, which has a core goal of ending extreme poverty and boosting prosperity, funds fossil fuel and renewable power projects but has a ban on funding nuclear.

“Small nuclear reactors could be transformative,” he said in an interview with David Rubenstein at the Economic Club of Washington.

The policy reform proposal will seek to encompass all kinds of affordable and accessible energy, Banga said, including natural gas, nuclear, geothermal, hydropower and others.

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