HR 1474
International Nuclear Energy Financing Act of 2025
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Bill overview
This bill, the International Nuclear Energy Financing Act of 2025, aims to encourage the use of nuclear energy globally by advocating for its inclusion in financing decisions of international financial institutions like the World Bank and the European Bank for Reconstruction and Development. It seeks to establish trust funds to provide financial and technical assistance for nuclear energy projects, prioritizing technologies meeting US standards, and requires regular reporting on progress towards this goal. The act also directs US representatives at these institutions to remove barriers to nuclear energy financing and build internal capacity for assessing its role in client countries’ energy systems.
Key provisions
- Instructs the US Treasury Secretary to advocate for removing prohibitions on nuclear energy financing at multilateral development banks.
- Establishes Nuclear Energy Assistance Trust Funds at the World Bank, European Bank for Reconstruction and Development, and other international financial institutions.
- Trust funds will provide financial and technical assistance for nuclear energy generation and distribution.
- Trust fund revenues will be used to support nuclear energy projects and strengthen institutional capacity.
- Prioritizes nuclear technologies meeting US or allied country quality standards.
- Requires the National Advisory Council to include updates on nuclear energy financing efforts in its annual report.
- Includes a 10-year sunset provision for the act and its amendments.
Who is affected
- International Bank for Reconstruction and Development
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119th CONGRESS — 1st Session
H. R. 1474
IN THE HOUSE OF REPRESENTATIVES
A BILL
To provide for advocation of support for nuclear energy, and establish a nuclear energy assistance trust fund, at the World Bank, the European Bank for Reconstruction and Development, and other international financial institutions, as appropriate, and for other purposes.
This Act may be cited as the International Nuclear Energy Financing Act of 2025
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Congress finds the following:
Nuclear power is an emissions-free energy source that produces approximately 30 percent of the world’s low-carbon electricity. In 2021, 33 countries operated nuclear power plants.
The People’s Republic of China and the Russian Federation have sought to export nuclear reactors to Europe, Eurasia, Latin America, Africa, and South Asia. According to a 2017 study by Columbia University’s Center on Global Energy Policy, Chinese and Russian nuclear reactors are associated with higher safety risk than Western nuclear reactors. In addition, financial and operational support for nuclear power can extend over decades, allowing Beijing and Moscow to secure long-term influence in both advanced and developing economies.
The Russian Federation is currently building 21 reactors outside its borders, while the People’s Republic of China is assembling more than a third of reactors under construction globally. According to research published in Nature Energy in February 2023, when the Russian Federation launched its invasion of Ukraine in 2022, Russian state-owned nuclear operator Rosatom boasted as many as 73 different projects in 29 countries. The projects were at very different stages of development from power plants in operation; through construction of reactors ongoing, contracted, ordered or planned; to involvement in tenders, invitations to partnerships or officially published proposals. On top of that, Russian companies have bilateral agreements or memoranda of understanding (MoUs) with 13 countries for services or general joint development of nuclear energy.
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In its report, International Status and Prospects for Nuclear Power 2021
, the International Atomic Energy Agency wrote, A total of 28 countries have expressed interest in nuclear power and are considering, planning or actively working to include it into their energy mix. Another 24 Member States participate in the Agency’s nuclear infrastructure related activities or are involved in energy planning projects through the technical cooperation programme. Ten to twelve embarking Member States plan to operate NPPs [nuclear power plants] by 2030–2035, representing a potential increase of nearly 30% in the number of operating countries. Several embarking countries have also expressed interest in SMRs [small modular reactors] technology, in particular Estonia, Ghana, Jordan, Kenya, Poland, Saudi Arabia and Sudan, as well as expanding countries such as South Africa.
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On December 2, 2023, the United States, alongside more than 20 other countries, pledged to triple nuclear energy capacity by 2050 and support the financing of nuclear energy through the World Bank and regional development banks, so as to encourage the inclusion of nuclear energy in their organizations’ energy lending policies as needed, and to actively support nuclear power when they have such a mandate
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Title XV of the International Financial Institutions Act (22 U.S.C. 262o–262o–4) is amended by adding at the end the following:
The Secretary of the Treasury shall instruct the United States Executive Director at the International Bank for Reconstruction and Development, the European Bank for Reconstruction and Development, and, as the Secretary finds appropriate, any other multilateral development bank (as defined in section 1307(g)) to use the voice, vote, and influence of the United States to advocate for—
the removal of prohibitions at the respective bank against financial and technical assistance for the generation and distribution of nuclear energy; and
increased internal capacity-building at the respective bank for the purpose of assessing—
the potential role of nuclear energy in the energy systems of client countries; and
the delivery of financial and technical assistance described in paragraph (1) to the countries.
Title XV of the International Financial Institutions Act (22 U.S.C. 262o–262o–4) is further amended by adding at the end the following:
The Secretary of the Treasury shall instruct the United States Governors of the International Bank for Reconstruction and Development, the European Bank for Reconstruction and Development, and, as the Secretary deems appropriate, other international financial institutions (as defined in section 1701(c)(2)) to use the voice, vote, and influence of the United States to establish at each such institution a trust fund to be known as the Nuclear Energy Assistance Trust Fund
that meets the requirements of subsections (b) and (c) of this section.
The purposes of such a trust fund shall be the following:
To provide financial and technical assistance to support the generation and distribution of nuclear energy in borrowing countries.
To ensure that the international financial institution makes financing available on competitive terms, including for the purpose of countering credit extended by the government of a country that is not a member of the OECD Arrangement on Officially Supported Export Credits.
To exclusively 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.
To strengthen the capacity of the international financial institution to assess, implement, and evaluate nuclear energy projects.
The revenues of such a trust fund shall be made available for activities for the purposes described in subsection (b), or the United States share of the revenues shall be remitted to the general fund of the Treasury, as the Secretary finds appropriate.
During the 7-year period that begins with the date of enactment of this Act, the Chairman of the National Advisory Council on International Monetary and Financial Policies shall, include in the annual report required by section 1701 of the International Financial Institutions Act a description of any progress made—
to promote multilateral development bank (as defined in such section) assistance for nuclear energy; and
to establish a trust fund pursuant to section 1507 of such Act or, as the case may be, a summary of the activities of any such trust fund.
This Act and the amendments made by this Act shall have no force or effect beginning 10 years after the date of the enactment of this Act.