PARIS — June 26, 2025 - In a move that could reshape the global energy landscape, the World Bank has ended its decades-long ban on financing nuclear projects. At a historic signing in Paris, the Bank and the International Atomic Energy Agency (IAEA) announced a new partnership to support the safe, secure, and responsible use of nuclear technologies worldwide. Anthropocene Institute’s President Carl Page and Director of Data Science Guido Núñez-Mujica were honored to attend the ceremony, which marks a turning point in the international development community’s approach to clean energy and climate resilience.

While the formal ban on nuclear funding wasn’t enacted until 2013, the World Bank had not supported a nuclear project since 1959, when it helped finance Italy’s first nuclear power plant. For more than six decades, nuclear power has been effectively excluded from development funding—even as energy needs have grown, climate threats have intensified, and interest in clean, reliable baseload energy has surged.

This reversal signals a significant shift in how the international development community views nuclear power. It comes at a time when the world is confronting two of its most pressing challenges: the climate crisis and growing concerns over energy security. As nations scramble to decarbonize their power sectors while maintaining stable, affordable electricity, nuclear energy is re-emerging as a critical part of the solution.

Modern Nuclear Technologies: Factory-Built, Safer, and More Scalable

The return of World Bank financing to nuclear projects could unleash a wave of capital that accelerates innovation. While today’s existing nuclear fleet is a powerful asset for decarbonization, many of these plants are based on designs developed more than 50 years ago. Maintaining these old reactors is important while we wait for new reactors to be built, but the energy transition will ultimately require updated, more advanced technologies that are safer, smaller, faster to deploy, and more cost-effective.

Modern nuclear designs that could be produced in a factory—especially advanced high-temperature reactors (HTRs) with 600°C output, where coolant systems are designed so water never contacts the fuel—l—offer promising improvements in safety, scalability, and efficiency. However, these next-generation technologies need upfront investment to move from prototype to commercial deployment. With access to World Bank funding, more developers around the globe will have the resources to bring these systems online.

A Boon for Developing Nations

Perhaps the most transformative aspect of the World Bank’s decision is the opportunity it creates for developing countries. Historically, clean energy investment—especially in nuclear—has been concentrated in a small group of industrialized nations. Developing nations have often been left out of these conversations, lacking the capital, infrastructure, and institutional support to pursue nuclear power.

Now, that could change. With access to low-cost financing and technical support from the World Bank, countries across Africa, Southeast Asia, and Latin America may be able to leapfrog directly to advanced nuclear technologies. Nuclear energy could provide them with a pathway to reliable, abundant electricity while avoiding the carbon-intensive development trajectories of the past.

The potential is vast—countries like Bangladesh, for example, which have previously lacked the educational infrastructure or resources to support domestic nuclear development, could now import expertise and technologies, laying the groundwork for a future powered by clean, resilient energy. This shift could reduce poverty, improve public health, and strengthen national sovereignty through greater energy independence.

Closing the Gap Between East and West

The World Bank’s change in policy also has significant geopolitical implications. Until now, the mass deployment of nuclear energy has largely been dominated by Russia and China, whose state-owned companies have built dozens of reactors at home and abroad. Meanwhile, much of the Western world has lagged behind—often due to regulatory hurdles, political opposition, or lack of financing.

By opening a new channel for investment, the World Bank’s decision could help Western countries and their allies regain ground in the global nuclear market. This not only strengthens competition and innovation but also ensures that more nations have access to nuclear technology development.

A Turning Point for the Planet

This decision reflects the growing recognition that nuclear energy must be part of any serious effort to confront the climate crisis, ensure global energy equity, and build a more prosperous future. If implemented with international cooperation, this reversal by the World Bank could catalyze the largest expansion of clean energy infrastructure in history. It could provide a foundation for decarbonizing entire economies, empowering the developing world, and bridging the energy divide—all while supporting technological innovation and strengthening energy security.

As this new chapter begins, the global community must ensure that funding translates into deployment, equity, and innovation. The Anthropocene Institute is proud to support this transition—and stands ready to help countries, innovators, and institutions take the next step.