World Bank to Fund Nuclear Power Projects
Washington, DC – Thursday, June 12, 2025 – The World Bank is lifting its long-standing ban on nuclear energy projects. World Bank President Ajay Banga sent a memo to staff stating that the World Bank Group will reenter the nuclear energy industry, starting by supporting reactor life extensions, but also to accelerate the potential of Small Modular Reactors.
“Lifting the ban on nuclear energy is big news, not just for unlocking World Bank support, but also because so many other financial institutions simply follow World Bank policy,” said Jeremy Harrell, CEO of ClearPath. “This is a long overdue change that can help accelerate clean, reliable energy globally, while also providing alternatives to Russian and Chinese nuclear financing.”
The international market for nuclear energy could grow to over $100 billion annually by 2030. Regardless of how the World Bank engages on nuclear, the U.S. must be prepared to capitalize on this market by:
- Ensuring first-of-a-kind demonstration projects succeed.
- Building a domestic nuclear fuel supply chain.
- Strengthening America’s financing entities, such as the Export-Import Bank of the United States and the U.S. International Development Finance Corporation, which can promote U.S. exports.
Media Contact:
Emily Johnson
emily@clearpath.org
(678) 761-1864
ABOUT CLEARPATH
ClearPath's mission is to accelerate American innovation to reduce global energy emissions. To advance that mission, we develop cutting-edge policy solutions on clean energy and clean manufacturing innovation. An entrepreneurial, strategic nonprofit, ClearPath (501(c)(3)) collaborates with public and private sector stakeholders on innovations in nuclear energy, carbon capture, hydropower, natural gas, geothermal, energy storage, and clean manufacturing to enable private-sector deployment of critical technologies. Learn more at clearpath.org. Follow us on Twitter: @ClearPathAction