The European Investment Bank has issued a €90 million loan to Finland’s Teollisuuden Voima Oyj for upgrades at the Olkiluoto plant, part of a growing shift among global development banks to actively fund nuclear energy projects.
Ajay Banga, the World Bank president, announced that it would lift its decades-long ban on financing nuclear energy and “begin to re-enter the nuclear energy space” in partnership with the International Atomic Energy Agency. This policy shift is aimed at accelerating development of the low-emissions nuclear technology to meet surging electricity demand in the developing world.