[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1739 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 1739
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 13, 2025
Mr. McCormick (for himself and Mr. Coons) introduced the following
bill; which was read twice and referred to the Committee on Foreign
Relations
_______________________________________________________________________
A BILL
To provide for advocation of support for nuclear energy, and establish
a nuclear energy assistance trust fund, at the World Bank, the European
Bank for Reconstruction and Development, and other international
financial institutions, as appropriate, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``International Nuclear Energy
Financing Act of 2025''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) Nuclear power is an emissions-free energy source that
produces approximately 30 percent of the world's low-carbon
electricity. In 2021, 33 countries operated nuclear power
plants.
(2) The People's Republic of China and the Russian
Federation have sought to export nuclear reactors to Europe,
Eurasia, Latin America, Africa, and South Asia. According to a
2017 study by Columbia University's Center on Global Energy
Policy, Chinese and Russian nuclear reactors are associated
with higher safety risk than Western nuclear reactors. In
addition, financial and operational support for nuclear power
can extend over decades, allowing Beijing and Moscow to secure
long-term influence in both advanced and developing economies.
(3) As of the date of the enactment of this Act, the
Russian Federation is building 21 reactors outside its borders,
while the People's Republic of China is assembling more than
one-third of reactors under construction globally. According to
research published in Nature Energy in February 2023, when the
Russian Federation launched its invasion of Ukraine in 2022,
Russian state-owned nuclear operator Rosatom ``boasted as many
as 73 different projects in 29 countries. The projects were at
very different stages of development from power plants in
operation; through construction of reactors ongoing,
contracted, ordered or planned; to involvement in tenders,
invitations to partnerships or officially published proposals.
On top of that, Russian companies have bilateral agreements or
memoranda of understanding (MoUs) with 13 countries for
services or general joint development of nuclear energy.''.
(4) In its report titled, ``International Status and
Prospects for Nuclear Power 2021'', the International Atomic
Energy Agency wrote, ``A total of 28 countries have expressed
interest in nuclear power and are considering, planning or
actively working to include it into their energy mix. Another
24 Member States participate in the Agency's nuclear
infrastructure related activities or are involved in energy
planning projects through the technical cooperation programme.
Ten to twelve embarking Member States plan to operate NPPs
[nuclear power plants] by 2030-2035, representing a potential
increase of nearly 30 percent in the number of operating
countries. Several embarking countries have also expressed
interest in SMRs [small modular reactors] technology, in
particular Estonia, Ghana, Jordan, Kenya, Poland, Saudi Arabia
and Sudan, as well as expanding countries such as South
Africa.''.
(5) On December 2, 2023, the United States, alongside more
than 20 other countries, pledged to triple nuclear energy
capacity by 2050 and support the financing of nuclear energy
through the World Bank and regional development banks, so as to
``encourage the inclusion of nuclear energy in their
organizations' energy lending policies as needed, and to
actively support nuclear power when they have such a mandate''.
SEC. 3. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o et seq.) is amended by adding at the end the following:
``SEC. 1506. MULTILATERAL DEVELOPMENT BANK SUPPORT FOR NUCLEAR ENERGY.
``(a) In General.--The Secretary of the Treasury shall instruct the
United States Executive Director at the International Bank for
Reconstruction and Development, the European Bank for Reconstruction
and Development, and, as the Secretary determines appropriate, any
other multilateral development bank (as defined in section 1307(g)) to
use the voice, vote, and influence of the United States to advocate
for--
``(1) the removal of prohibitions at the respective bank
against financial and technical assistance for the generation
and distribution of nuclear energy, to the extent that the
prohibitions apply to nuclear technologies that meet or exceed
the quality standards prevalent in the United States or a
country allied with the United States; and
``(2) increased internal capacity-building at the
respective bank for the purpose of assessing--
``(A) the potential role of nuclear energy in the
energy systems of client countries; and
``(B) the delivery of financial and technical
assistance described in paragraph (1) to those
countries.
``(b) Sunset.--This section shall have no force or effect beginning
on the date that is 10 years after the date of the enactment of the
International Nuclear Energy Financing Act of 2025.''.
SEC. 4. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
Title XV of the International Financial Institutions Act (22 U.S.C.
262o et seq.), as amended by section 3, is further amended by adding at
the end the following:
``SEC. 1507. ESTABLISHMENT OF NUCLEAR ENERGY ASSISTANCE TRUST FUNDS.
``(a) In General.--The Secretary of the Treasury shall instruct the
United States Governors of the International Bank for Reconstruction
and Development, the European Bank for Reconstruction and Development,
and, as the Secretary determines appropriate, other international
financial institutions to use the voice, vote, and influence of the
United States to establish at each such institution a trust fund to be
known as the `Nuclear Energy Assistance Trust Fund' that meets the
requirements of subsections (b) and (c).
``(b) Purposes.--The purposes of a trust fund established under
subsection (a) at an international financial institution shall be the
following:
``(1) To provide financial and technical assistance to
support the generation and distribution of nuclear energy in
borrowing countries.
``(2) To ensure that the international financial
institution makes financing available on competitive terms,
including for the purpose of countering credit extended by the
government of a country that is not a member of the Arrangement
on Officially Supported Export Credits of the Organisation for
Economic Cooperation and Development.
``(3) To exclusively support the adoption of nuclear energy
technologies that meet or exceed the quality standards
prevalent in the United States or a country allied with the
United States.
``(4) To strengthen the capacity of the international
financial institution to assess, implement, and evaluate
nuclear energy projects.
``(c) Use of Trust Fund Revenues.--The revenues of a trust fund
established under subsection (a) shall be made available for activities
for the purposes described in subsection (b), or the United States
share of those revenues shall be remitted to the general fund of the
Treasury, as the Secretary determines appropriate.
``(d) Rule of Interpretation.--This section shall not be
interpreted to affect the ability of the United States Governor of, or
the United States Executive Director at, an international financial
institution to encourage the provision of financial or technical
assistance from resources of the institution other than a trust fund
established under subsection (a) to support the generation or
distribution of nuclear energy.
``(e) International Financial Institution Defined.--The term
`international financial institution' means an institution specified in
section 1701(c)(2).
``(f) Sunset.--This section shall have no force or effect beginning
on the date that is 10 years after the date of the enactment of the
International Nuclear Energy Financing Act of 2025.''.
SEC. 5. INCLUSION IN ANNUAL REPORT.
During the 7-year period beginning on the date of the enactment of
this Act, the Chairman of the National Advisory Council on
International Monetary and Financial Policies shall include in the
annual report required by section 1701 of the International Financial
Institutions Act (22 U.S.C. 262r) a description of any progress made--
(1) to promote assistance by multilateral development banks
(as defined in such section) for nuclear energy; and
(2) to establish a trust fund pursuant to section 1507 of
such Act (as added by section 4) or, as the case may be, a
summary of the activities of any such trust fund.
<all>