Press Releases

This morning, the World Bank Group and the International Atomic Energy Agency (IAEA) formalized an agreement to support the deployment of nuclear energy in developing countries. This partnership represents the World Bank Group’s first reengagement with nuclear power in decades and signals a major step forward in expanding access to reliable energy across the globe.

House Committee on Financial Services Chairman French Hill (AR-02) issued the following statement:

“For years, I’ve advocated for the importance of nuclear being included in an ‘all of the above’ energy strategy and I applaud the World Bank Group and IAEA for creating this important partnership. Unlocking the potential of nuclear energy in developing countries is essential to meeting today’s global energy needs,” said Chairman Hill. “I am hopeful that this collaboration will translate into real financing solutions for these countries, so they are not forced to rely on coercive financing from Russia or China. I urge the World Bank to embrace the full range of nuclear technologies already in use and to act with urgency. I look forward to working with them to ensure this new chapter delivers real results.”

Further Background:

• On March 5, 2025, the Financial Services Committee favorably reported Chairman Hill’s H.R. 1474, the International Nuclear Energy Financing Act of 2025, to the full House of Representative for consideration by a bipartisan vote of 39-10.

• Chairman Hill’s bill would require our Treasury representatives at the World Bank, the European Bank for Reconstruction and Development, and other Multilateral Development Banks to advocate for the lifting of their prohibitions on nuclear power generation.

• On June 12, 2025, the Committee applauded the World Bank Group’s decision to reenter the nuclear energy space.