World Bank, IAEA Sign Nuclear Energy Partnership for Developing Countries

The World Bank Group and the International Atomic Energy Agency (IAEA) have formalized a new partnership to support the safe, secure, and responsible use of nuclear energy in developing countries, marking the World Bank's first reengagement with nuclear power in decades. Signed by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, the agreement reflects a broader approach to electrification that prioritizes accessibility, affordability, reliability, and emissions management to meet rapidly increasing electricity demand expected to more than double by 2035. Nuclear energy is highlighted for its ability to provide continuous baseload power, essential for stable grids and critical sectors including infrastructure, healthcare, agriculture, and manufacturing, while also supporting high-skilled employment and economic investment. The partnership aims to help countries tailor energy pathways aligned with their national development goals and climate commitments, emphasizing nuclear's role in energy security, industrial growth, and integrating renewable energy sources. Both institutions plan to collaborate on technical knowledge sharing related to nuclear safety, technology, fuel cycles, and waste management to ensure responsible deployment. This milestone signals growing international recognition of nuclear power as a viable tool for sustainable development and climate-conscious energy expansion in developing economies.