World Bank Explores Nuclear Energy Financing Amid Policy Tensions

30 Apr 2025 CW Team

The committee’s statement also reaffirmed support for the development lender’s gender equality strategy. This endorsement comes just days after U.S. Treasury Secretary Scott Bessent criticised both the World Bank and the International Monetary Fund (IMF) for what he described as "mission creep," accusing them of drifting beyond their core mandates of development and economic stability into areas such as climate change, gender, and inclusion.

In a joint statement, the World Bank and IMF's Development Committee called for the World Bank Group (WBG) to work towards providing affordable and reliable energy access to 300 million Africans by 2030.

"We encourage the WBG to explore further options for increased affordable and reliable energy access, including potential support for nuclear energy," the statement noted.

Bessent, however, urged the World Bank to prioritise affordability over climate-related targets, welcoming the decision to lift the prohibition on financing nuclear energy. He also advocated for continued support for gas and other fossil-fuel-based energy production.

While the Development Committee recognised the World Bank’s goal to allocate 45 per cent of its lending to climate activities by fiscal year 2026, it stressed that climate financing should be driven by client demand, focusing on areas like electricity access, resilient transport solutions, biodiversity, sustainable food systems, and climate adaptation.

The panel also fully endorsed the World Bank’s gender strategy, highlighting programmes that aim to provide 80 million women and women-led businesses with access to capital and efforts to improve human capital outcomes for women and girls.

German Development Minister Svenja Schulze stated that she had pushed to maintain focus on women's rights and climate change concerns during the discussions, despite U.S. pressure to scale back these priorities.

"We set a course for the bank over the past two years, and we must stick to it," Schulze said, noting that European Union countries collectively hold 23 per cent of the bank’s shares compared to the United States’ 16 per cent.

Participants noted that the United States, traditionally the first speaker during Development Committee meetings, did not lead this session and found limited support for its position outside of Russia.

One delegate, speaking anonymously, remarked that Washington’s current stance was surprising given decades of strong U.S. backing for the World Bank. There remains uncertainty over whether the United States will honour its earlier pledge, made under President Joe Biden, to contribute $4 billion to the International Development Association, the bank’s fund for the world’s poorest nations. Bessent indicated that fulfilling the pledge would depend on upcoming U.S. budget negotiations and World Bank reform progress.

The World Bank’s steering committee on Friday endorsed plans to expand energy access initiatives, including exploring potential financing for nuclear energy projects. This move aligns with recent U.S. directives aimed at broadening the bank's approach to energy sector funding.The committee’s statement also reaffirmed support for the development lender’s gender equality strategy. This endorsement comes just days after U.S. Treasury Secretary Scott Bessent criticised both the World Bank and the International Monetary Fund (IMF) for what he described as mission creep, accusing them of drifting beyond their core mandates of development and economic stability into areas such as climate change, gender, and inclusion.In a joint statement, the World Bank and IMF's Development Committee called for the World Bank Group (WBG) to work towards providing affordable and reliable energy access to 300 million Africans by 2030.We encourage the WBG to explore further options for increased affordable and reliable energy access, including potential support for nuclear energy, the statement noted.Bessent, however, urged the World Bank to prioritise affordability over climate-related targets, welcoming the decision to lift the prohibition on financing nuclear energy. He also advocated for continued support for gas and other fossil-fuel-based energy production.While the Development Committee recognised the World Bank’s goal to allocate 45 per cent of its lending to climate activities by fiscal year 2026, it stressed that climate financing should be driven by client demand, focusing on areas like electricity access, resilient transport solutions, biodiversity, sustainable food systems, and climate adaptation.The panel also fully endorsed the World Bank’s gender strategy, highlighting programmes that aim to provide 80 million women and women-led businesses with access to capital and efforts to improve human capital outcomes for women and girls.German Development Minister Svenja Schulze stated that she had pushed to maintain focus on women's rights and climate change concerns during the discussions, despite U.S. pressure to scale back these priorities.We set a course for the bank over the past two years, and we must stick to it, Schulze said, noting that European Union countries collectively hold 23 per cent of the bank’s shares compared to the United States’ 16 per cent.Participants noted that the United States, traditionally the first speaker during Development Committee meetings, did not lead this session and found limited support for its position outside of Russia.One delegate, speaking anonymously, remarked that Washington’s current stance was surprising given decades of strong U.S. backing for the World Bank. There remains uncertainty over whether the United States will honour its earlier pledge, made under President Joe Biden, to contribute $4 billion to the International Development Association, the bank’s fund for the world’s poorest nations. Bessent indicated that fulfilling the pledge would depend on upcoming U.S. budget negotiations and World Bank reform progress.

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Infrastructure Transport

04 Jun 2026

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Real Estate

04 Jun 2026

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..