World Bank, IAEA Sign Agreement to Advance Nuclear Power in Developing Countries

Ghana is advancing its nuclear power ambitions as a key element for achieving affordable, reliable, and sustainable electricity to drive industrial growth, with the National Petroleum Authority CEO emphasizing nuclear energy as a game changer. The Nuclear Power Ghana Limited draft bill, which outlines governance and operational frameworks for nuclear power generation, is part of the country’s strategic steps, supported by historical and technical progress detailed by the Executive Director of Nuclear Power Ghana. Meanwhile, the World Bank Group and the International Atomic Energy Agency (IAEA) have formed a partnership to support the safe, secure, and responsible use of nuclear energy in developing countries, marking the World Bank's renewed commitment to nuclear power financing. This collaboration focuses on enhancing nuclear safety, energy planning, waste management, and extending the lifespan of existing reactors, with a particular interest in small modular reactors, which offer scalable clean power solutions. Both institutions highlight nuclear power's critical role in providing reliable baseload electricity essential for sectors like infrastructure, healthcare, manufacturing, and job creation. The partnership reflects a broader approach to electrification that balances accessibility, affordability, reliability, and emissions management, positioning nuclear energy as a pivotal component of sustainable development in emerging economies.