Bill > S1739

This bill aims to promote nuclear energy financing through international financial institutions, particularly in response to nuclear energy expansion efforts by China and Russia. The legislation instructs the U.S. Treasury Secretary to advocate for removing prohibitions against nuclear energy financing at institutions like the World Bank and European Bank for Reconstruction and Development, focusing on nuclear technologies that meet U.S. or allied country standards. The bill requires establishing Nuclear Energy Assistance Trust Funds at these institutions to provide financial and technical support for nuclear energy generation in borrowing countries, with a specific goal of countering credit extended by non-OECD countries. The bill highlights that nuclear power is an emissions-free energy source currently used by 33 countries, and notes a global trend of increasing interest in nuclear energy, including a recent international pledge to triple nuclear energy capacity by 2050. The provisions are set to expire 10 years after enactment, and the National Advisory Council will be required to report annually on progress in promoting nuclear energy assistance through multilateral development banks. The legislation is partly motivated by concerns about Chinese and Russian nuclear reactor exports, which are characterized as potentially presenting higher safety risks and offering long-term geopolitical influence to those countries.

Government Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1739/all-info