Dr. Steven Yamoah, Executive Director of Nuclear Power Ghana (NPG), has announced that high-level discussions are underway with the Bretton Woods institutions to establish an International Bank for Nuclear Infrastructure.
The proposed bank would provide sustainable funding for nuclear power projects, which are critical for reducing carbon footprints and promoting environmental protection.
Ghana plans to choose a vendor for its first nuclear power plant by December, with contenders including France’s EDF, U.S.-based NuScale Power, Regnum Technology Group, and China National Nuclear Corporation.
The country has considered building a nuclear power plant since the 1960s and is now looking to nuclear power to address electricity supply gaps.
The establishment of an International Bank for Nuclear Infrastructure could provide a significant boost to nuclear power projects in Africa and globally.
Financing nuclear power requires billions of dollars, and currently, the World Bank and IMF do not provide funding for nuclear power projects.
However, with the growing recognition of nuclear energy’s role in addressing climate change and energy security, the Bretton Woods institutions are reconsidering their stance on supporting nuclear projects.”
