The United States is stepping up to help nuclear energy development. In a move to encourage nuclear energy exports and help American nuclear companies compete abroad against Russian and Chinese state-owned firms, the U.S. International Development Finance Corporation (DFC) announced July 23 that is lifting its investment ban on civil nuclear projects.
America’s development bank said that the removal of its nuclear investment prohibition could “offer an alternative to the financing of authoritarian regimes while advancing U.S. nonproliferation safeguards and supporting U.S. nuclear competitiveness.”
In a July 2 letter to the DFC, the American Nuclear Society voiced support for the proposed policy change, on behalf of U.S. nuclear scientists and engineers.
“Supporting nuclear power projects abroad is essential to help the world achieve a low-carbon future and to help the U.S. solidify its place among the world’s energy leaders,” wrote ANS Executive Director/CEO Craig Piercy. “I urge you to remove the legacy prohibition on support for nuclear energy projects in developing countries.”
Strengthening the DFC’s financing capabilities for nuclear energy projects is an important first step to delivering carbon-free, energy security to sovereign countries.