US Development Aid Agency Allows Funding for Nuclear Power Plants in Developing Countries

Protecting Domestic Nuclear Industry and Aiming to Contain China and Russia

[Asia Economy New York=Correspondent Baek Jong-min] The path has been opened for U.S. foreign aid funds to be invested in nuclear power projects. While the intention is to support the introduction of nuclear power plants in developing countries and foster the domestic nuclear industry, it is also a move to block China and Russia's support for nuclear power development in developing countries.

According to U.S. media on the 11th (local time), the U.S. International Development Finance Corporation (DFC) recently announced a policy change proposal to lift the ban on funding nuclear projects.

[Image source=AP Yonhap News]

DFC explained this change as "helping to promote economic growth and energy access in underserved communities, and providing safe and reliable electricity to developing countries."

DFC further emphasized, "It can advance U.S. non-proliferation safety measures and support U.S. nuclear competitiveness while also offering an alternative to funding by authoritarian regimes." This suggests that the U.S. will actively respond to China and Russia's support for nuclear power plants in developing countries.

DFC was established in October 2019 in response to China's development support for developing countries.

The U.S. Nuclear Energy Institute (NEI) immediately welcomed the move. Maria Korsnick, CEO of NEI, said in a statement, "DFC's decision supports the development of clean and reliable energy worldwide, helps countries achieve their energy development goals, strengthens U.S. national security, and benefits American companies."

She added, "Many countries around the world are seeking to build new reactors or expand existing nuclear programs, but state-owned enterprises funded by China and Russia are filling the gap left by the U.S. Partnering with U.S. companies will secure long-term clean and reliable energy and establish long-term strategic economic and security relationships with the U.S. that can last for 100 years."

The congressional media outlet The Hill reported that DFC has become the only government agency worldwide capable of funding nuclear power plant projects.

Earlier, the U.S. 'Nuclear Fuel Working Group' (NFWG), formed under the direction of former President Donald Trump, argued in a report titled 'Restoring U.S. Nuclear Competitiveness' last month that "the U.S. government should change regulations to allow the U.S. Export-Import Bank and DFC to finance nuclear power exports."

This content was produced with the assistance of AI translation services.