The World Bank Gives Nuclear Power a Jolt in the Global South

The World Bank’s recent decision to lift a longstanding de facto ban on funding for nuclear energy projects has raised hopes that it will help developing nations meet rising electricity demand without exacerbating climate change. Until now, nuclear power has remained out of reach for these countries largely due to financing challenges. The Bank’s decision is an important first step toward addressing this gap.

The World Bank has not funded a nuclear project in 60 years, so it lacks the in-house expertise to assess, develop, and manage such projects today. To address this challenge, it has partnered with the International Atomic Energy Agency, the U.N. body responsible for technical expertise and cooperation in nuclear energy.

This collaboration is especially significant for countries of the Global South, which often depend on the IAEA’s support to establish the regulatory frameworks, infrastructure, safeguards and human capacity needed for nuclear power. Through the new partnership, the IAEA will provide similar expertise to the World Bank as it considers projects so that it can responsibly assist countries seeking reliable, low-carbon energy solutions.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}