Energy for Growth Hub
Impact Story Jan 16, 2026

World Bank and Asian Development Bank Lift Longstanding Bans on Nuclear Energy

Future of Energy Tech

Bottom Line Impact

Through seven years of sustained advocacy, the Energy for Growth Hub helped end decades-long nuclear bans at the World Bank and Asian Development Bank, unlocking critical technical and financial support for emerging markets pursuing nuclear energy.

Why It Matters

Next generation nuclear technologies could help fast-growing emerging markets produce the energy they need for industrial growth and jobs. But multilateral development banks had long banned investments in or technical support for nuclear power. As a result, countries had little choice other than to turn to Russia and China for nuclear support, putting the transparency, safety, and competitiveness of energy markets at risk. The new policies will help countries decide whether nuclear should be a part of their energy mix, which models are best, how to procure them competitively, and how to manage them in service of national economic goals.

What We Did

  • Engaged the World Bank early — and quietly. Todd Moss first approached Bank shareholders about nuclear energy in 2019.
  • Used data to make the case that nuclear power is not just for rich countries. We compiled evidence challenging the widespread assumption that developing nations lack the capacity for nuclear programs. The Hub scored countries’ nuclear readiness and then partnered with Third Way to map the potential global market for advanced nuclear technology, finding many countries ready (or near-ready) across South Asia, Southeast Asia, and Africa.
  • Advocated for the World Bank to flip. Once the door started to crack open, we advocated openly for the World Bank to get involved in nuclear power and showed how a policy change at that institution could cascade to the 21 other public agencies that copy its investment policies.
  • Pitched the US Treasury, White House, and key Congressional offices. In partnership with allies including ClearPath and Third Way, we engaged directly with officials in both the Biden and Trump administrations, linking nuclear exports to core national security goals.
  • Helped ClearPath advance legislation. With our analysis, ClearPath helped introduce the International Nuclear Energy Financing Act and insert draft language in appropriations text directing the US Treasury to instruct the Executive Directors at multilateral development banks to “use the voice, vote and influence of the United States to support an ‘all of the above’ energy policy… including civil nuclear power.”
  • Cultivated support within the Trump administration. The Hub built a White House constituency, primarily thanks to our collaboration with DJ Nordquist, a member of the Council of Economic Advisors and former US representative to the World Bank under Trump I. She wrote ‘The World Needs More Nuclear Power: Why the World Bank Needs to Get in the Game” with Jeff Merrifield in Foreign Affairs in January 2023. And in April 2025, Treasury Secretary Scott Bessent elevated the issue by publicly urging the Bank to lift its ban.
  • Worked quietly with World Bank President Ajay Banga’s team. As his office came under increased pressure to reform the Bank’s energy policy, we worked with Banga’s staff to identify politically viable pathways forward.
  • Engaged behind the scenes with the Asian Development Bank. In parallel, we worked closely with senior officials at the ADB, making the case that embracing nuclear technology would support its ambitious plans for early coal retirement.

Big Win: Both the World Bank and Asian Development Bank end outdated nuclear bans

In June 2025, the World Bank announced the end of its longstanding ban. It will begin supporting efforts to extend the life of existing reactors, carry out related grid upgrades, and accelerate the potential of Small Modular Reactors.

  • World Bank President Ajay Banga touted the change. He said that “for the first time in decades, the World Bank Group will begin to reenter the nuclear energy space… building capacity and strengthening our ability to advise on non-proliferation safeguards, security, and regulatory frameworks.”
  • Ishmael Ackah explained what this means for countries like Ghana. The Hub Senior Advisor and advisor to Ghana’s Energy Ministry said, “Things have been slow for us because of global politics around nuclear, but we have been preparing, setting up an institutional structure, identifying sites… We want a 24-hour economy, industrial production to be happening day and night.”

In November 2025, the Asian Development Bank revised its energy policy to allow support for nuclear power.

  • ADB President Masato Kanda said it’s a big step forward. “These changes further enhance ADB’s ability to support countries in Asia and the Pacific as they work to meet their rapidly growing energy needs. Nuclear power… is an important technology option for countries looking for reliable alternatives to baseload electricity.”

Key Partners

  • DJ Nordquist, who used her political savvy and insider knowledge of the World Bank to cultivate support.
  • Jessica Lovering, co-founder of the Good Energy Collective and Hub Fellow, who did deep analysis on policy for advanced nuclear and the opportunities for developing economies.
  • ClearPath, which built bipartisan congressional support around this issue.
  • Third Way, which hosted the mapping of global advanced nuclear demand and advocated on the Hill.

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