Asian Infrastructure Investment Bank’s Energy Strategy

The full response is available as a pdf.

The World Nuclear Association welcomes the opportunity to contribute to the preparation of the Asian Infrastructure Investment Bank’s Energy Strategy. Our submission sets out the case for including nuclear energy among the energy infrastructure projects that are suitable for AIIB financing and investment. We believe that the AIIB has missed an opportunity by not including nuclear projects at this stage but we are heartened by the statement in the Issues Note that the AIIB will revisit its position in the future.There is an increasing appetite for nuclear energy in the region and an array of financing options are needed. In the Asian nuclear sector, China, Japan and South Korea already have large established nuclear fleets and export programmes; India, Iran and Pakistan are also operating and building nuclear power plants while the UAE is currently building its first four reactors. Beyond these, countries including Bangladesh, Indonesia, Jordan, Kazakhstan, Malaysia, the Philippines, Saudi Arabia, Thailand, Turkey and Vietnam are at different stages of setting up nuclear energy programmes.

The document comprises four sections, which support the following conclusions:

1. Nuclear energy projects can readily comply with the AIIB’s standards.
2. Nuclear energy contributes to a sustainable energy mix while nuclear technology helps to meet sustainable development goals.
3. The Asia region must increase the use of all low-carbon energy sources, including nuclear energy, if the world is to successfully limit climate change. 
4. Financing nuclear energy projects is an opportunity for AIIB to complement the lending activities of other development banks and would increase its relevancy in the Asia region.