According to a report in the Financial Times, London, the Asian Development Bank (ADB), Asia’s largest multilateral lender, said it is considering lifting its longstanding ban on investing in nuclear power projects.

The review is part of a scheduled policy update and comes as major development institutions and shareholders reassess their stance on nuclear energy.

Priyantha Wijayatunga, Senior Director for Energy at the ADB, confirmed that discussions are ongoing: “We are discussing with our shareholders the possibility of expanding engagement in nuclear energy.”

The development follows a landmark decision by the World Bank to end its own decades-long prohibition on nuclear energy funding. Meanwhile, key ADB shareholders like Japan and Germany have shifted their policies in favor of nuclear as part of broader energy transition strategies.

Proponents argue that opening nuclear financing will help countries in South and Southeast Asia, many of which rely heavily on coal, to move toward cleaner, more sustainable energy sources.

Todd Moss, Executive Director at the Energy for Growth Hub, said that excluding nuclear energy from development funding “only helps Russia and China,” who are currently leading the export of nuclear technologies in the Global South. He emphasized that development banks could help governments procure competitive, transparent nuclear energy solutions.

If adopted, the ADB’s policy change could reshape nuclear energy investment in emerging Asian economies.

Source: energycentral.com