Bring Back Financing for Nuclear Power at the World Bank
Rep. Patrick McHenry (NC-10)
Energy Innovation Agenda: Clean Energy Infrastructure
Bill: H.R. 1646, The International Nuclear Energy Financing Act
Republicans understand that nuclear energy has to be in our energy mix if we want to combine climate objectives with economic economic growth opportunities. Emerging markets will serve as the drivers of climate change in the coming decades. If reliable, emissions-free nuclear is in their energy mix, they can grow their way up the economic ladder while keeping greenhouse emissions under control. But in spite of this, the World Bank last approved a nuclear energy project more than 60 years ago. Rep. McHenry’s bill, The International Nuclear Energy Financing Act, would fix this problem.
This legislation would require the United States Executive Director at the World Bank to advocate and vote for financial assistance for nuclear energy. The bill would also permit U.S. representatives at other international financial institutions – including regional development banks for Asia, Africa, Europe, and Latin America – to push for nuclear projects. Taken together, the multilateral development banks can commit over $100 billion in annual financing.
Get the latest from Rep. McHenry here.