The World Bank will resume investments in nuclear energy after a long pause, aiming to help developing countries meet rapidly increasing electricity demand. President Ajay Banga confirmed the move, citing collaboration with the IAEA for safety and regulatory support. The initiative includes upgrading existing plants, expanding small modular reactor (SMR) use, and boosting grid infrastructure. Banga emphasized aligning energy access with national development goals. The World Bank will also support carbon capture and coal plant repurposing to enhance sustainable energy transitions.
After a long hiatus, the World Bank is set to reinvest in the nuclear energy sector. The organization’s president, Ajay Banga, confirmed the move in a statement on Wednesday, citing the rising electricity demand in developing countries as the key reason behind the decision, according to AFP.
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