The U.S. Chamber’s Global Energy Institute today applauded a new policy by the U.S. International Development Finance Corporation (DFC) to allow funding for nuclear energy projects around the world.
Previously, DFC funding for nuclear energy projects was prohibited, needlessly inhibiting American companies from exporting nuclear technology. Advanced nuclear technologies, including small modular reactors, are an important tool for reducing carbon emission to address climate change. GEI has highlighted this technology in its EnergyInnovates initiative, which focuses on game-changing technologies and individuals that are working to shape our energy future.
“This new policy will help American innovators continue to lead by developing and exporting emissions-free advanced nuclear technology around the world in the fight against global climate change,” said Marty Durbin, President of the Chamber’s Global Energy Institute. “With global energy demand rising, advanced nuclear energy will play an important role as a reliable, clean, and cost-effective solution. I commend CEO Adam Boehler and the DFC Board of Directors for this important change. ”
DFC was formed in December 2019 with the merger of the Overseas Private Investment Corporation and the Development Credit Authority of the U.S. Agency for International Development. DFC partners with the private sector to finance solutions to the developing world’s most critical challenges.