US offers loan of up to $5 billion for nuclear power development

Of course, as soon as debt comes up, the complainers show up. They seem to think national debt is something like a BDO loan.

A lot of people here are saying someone's going to skim off this too. But nuclear plants are under really strict IAEA oversight, unlike those flood control projects where costs could be cut and contractors bought off with money. The IAEA monitors a plant from the start all the way to decommissioning, and as far as I know there are 19 items that have to be resolved, and if even one of them isn't, the IAEA won't approve nuclear operations in that country. On top of that, you need layered contingency plans so a nuclear accident doesn't happen. In fact, precisely because it's perceived as dangerous, nuclear ended up being the second safest source of electricity after solar.

What the article is talking about is new technology. It's supposedly a safer approach suited to countries with lots of earthquakes and tsunamis. I'm fully in favor of nuclear power too, but what I see here is the Philippines becoming a testing ground for this new technology. By offering a loan, they're basically making the Philippines pay for a proof-of-concept showcase.

The US isn't exactly known for acting altruistically, especially under the current administration. Shouldn't the Philippines push renewable energy instead?