Explore more
World Bank, global economy
Digest more
Top News
Impacts
The World Bank’s board lifted its ban on supporting nuclear power, and is discussing whether to fund natural exploration and production, as it seeks ways to bolster access to electricity to realize its core development goals.
The World Bank's board has agreed to end a longstanding ban on funding nuclear energy projects in developing countries as part of a broader push to meet rising electricity needs, the bank's president Ajay Banga said on Wednesday.
The World Bank has lifted its long-standing ban on financing nuclear energy projects, marking its return to the sector for the first time in decades, President Ajay Banga announced on
The decision, a major reversal, could help poorer nations industrialize, cut planet-warming emissions and boost U.S. competitiveness on next-generation reactors.
Myanmar’s economy is headed for its worst performance since the pandemic as the strife-torn country reels from the impact of a devastating earthquake in March that’s estimated to have caused $11 billion in damage,
The World Bank said the U.S. economy in 2025 will grow 1.4 percent, 0.9 percentage points slower than its January forecast. It also called for all nations to reduce tariffs.
Along with a sharply downgraded projection for global output this year, it urged a “course correction” on trade to help preserve living standards.
The job of leading that reform now falls to Ajay Banga, an Indian American businessman and former CEO of Mastercard who was nominated by President Joe Biden to replace resigning World Bank President David Malpass.
Feedback