Philippines Discusses Up to $5 Billion in U.S. Financing for Nuclear Program Expansion
The Philippines is in discussions with the U.S. International Development Finance Corporation (DFC) regarding potential loan financing of up to $5 billion to support its nuclear energy program. This financing, if approved, could offer terms of up to 25 years to private investors involved in nuclear power plant development. The Philippine government aims to significantly increase its installed nuclear capacity, targeting 1,200 MW by 2032, 2,400 MW by 2035, and up to 4,800 MW by mid-century. Small modular reactors (SMRs) are expected to play a crucial role in achieving these goals, with their deployment contingent on the commercial availability of various technologies. The Philippines is also actively developing its legislative framework and nuclear regulatory system, while continuing its cooperation with the International Atomic Energy Agency (IAEA).