Post by : Jyoti Gupta

Photo:Reuters

The World Bank has decided to allow funding for nuclear energy projects again after not supporting them for many years. This change is meant to help developing countries get more electricity as their needs grow quickly. The World Bank’s president, Ajay Banga, said the bank will work with the International Atomic Energy Agency to make sure nuclear projects are safe and follow rules to prevent the spread of nuclear weapons.

The bank will help countries that already have nuclear power plants keep them running longer and improve their electricity grids. It also wants to help countries use new types of nuclear reactors called Small Modular Reactors, which are smaller and can be built faster.

This decision comes because many countries need a lot more electricity by 2035, and the World Bank wants to give them more choices for clean energy. The bank will also keep supporting other energy sources like solar, wind, and hydropower, and will help close or change old coal plants to cleaner options.

The World Bank’s board is still discussing whether it should support projects to find and produce natural gas, and has not made a decision yet.