House members revisit legislative push to encourage nuclear financing at World Bank

A recently introduced bill in the House of Representatives would require the U.S. representatives at the World Bank to advocate for increased funding for civilian nuclear energy projects, and encourage the creation of a fund at the global development banks dedicated to financing such projects.  

The International Nuclear Energy Financing Act of 2025, introduced in February by Republican Rep. French Hill (Ark.) and cosponsored by Reps. Ritchie Torres (D–N.Y.) and Byron Donalds (R–Fla.), passed the House Financial Services Committee in a 39-to-10 vote at its March 5 meeting. Hill introduced similar legislation in 2021. 

“If the U.S. doesn’t lead on nuclear energy development, Russia and China will. This bill will give us the tools we need to compete with these authoritarian aggressors and build long lasting nuclear energy deals that benefit our economy and ensure America remains the leader on nuclear energy for generations to come,” said Risch in a May statement.

Authors of the bill noted that globally, one-third of new nuclear power reactors in development are being constructed by China, and that Russia has “boasted” around 70 nuclear projects in 29 countries, with MOUs in another 13 countries. The bill cites figures from the International Atomic Energy Agency stating that ten to twelve “embarking” nations have stated goals to operate nuclear power plants by 2035. 

The measure requires the Treasury Secretary to direct U.S. World Bank governors to “use the voice, vote, and influence of the United States” to push for civilian nuclear financing, establish a Nuclear Energy Assistance Trust Fund, and build capacity at the global development banks for supporting such projects.

The House Financial Services Committee said in its report that due to current financing restrictions, the World Bank last considered a nuclear energy project 60 years ago.

An included amendment by Rep. Bill Foster (D-Ill.) would require any projects supported by nuclear trust fund financing ‘‘support the adoption of nuclear energy technologies that meet or exceed the quality standards prevalent in the United States or a country allied with the United States.”

Environmental groups, along with Democrats on the Financial Services Committee, led by Rep. Maxine Waters (D-Calif.) objected to the efficacy of the U.S. safety standards amendment, writing, “the current administration is already working to gut those standards. In his first month in office, President Trump declared, via executive order, that the Nuclear Regulatory Commission will no longer be viewed by his Administration as an independent agency.” 

An additional proposed amendment by Rep. Sean Casten (D–Ill.) would have mandated that World Bank financiers prioritize financial and technical assistance to the development of zero-emission energy sources and infrastructure, including nuclear, hydroelectricity, solar, wind, but the addition was defeated. 

A separate nuclear energy financing bill is set for committee consideration in the Senate on June 5, though it is not a companion to the House bill.