World Bank lifts ban on nuclear energy financing

The World Bank is set to re-enter the nuclear energy sector after decades, announced President Ajay Banga, aiming to meet the escalating electricity demands in developing nations. Collaborating with the IAEA, the bank will enhance non-proliferation safeguards and regulatory frameworks. This decision arises as electricity demand in developing countries is projected to more than double by 2035, necessitating a surge in annual energy investment.