Translation. Region: Russian Federal
Source: International Atomic Energy Agency –
The World Bank Group and the International Atomic Energy Agency (IAEA) have signed an agreement to work together to support the responsible use of nuclear energy in developing countries, based on safety and security principles. The partnership agreement, signed by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, formalizes numerous contacts between the two organizations over the past year and marks the first concrete step in decades by the World Bank Group to resume cooperation on nuclear energy.
Moreover, the agreement reflects the World Bank Group’s new, broader approach to electrification – one that prioritizes affordability, affordability, and reliability, as well as responsible emissions management. With electricity demand in developing countries estimated to more than double by 2035, this approach aims to help countries meet their populations’ energy needs in ways that best fit their national context, including development goals and nationally determined contributions.
Nuclear power provides continuous baseload power while increasing grid stability and resilience. Reliable baseload power is essential for many job-creating sectors, including infrastructure, agribusiness, healthcare, tourism and manufacturing. Nuclear power also provides high-skilled jobs and stimulates investment in the wider economy. It can also adapt to changes in electricity demand and support frequency regulation, enabling greater integration of variable renewables.
“Jobs need electricity. So do factories, hospitals, schools, and water supplies. As demand grows — driven by both artificial intelligence and development challenges — we must help countries ensure reliable, affordable electricity. That’s why we see nuclear power as part of the solution — and why we’re revisiting it as part of the World Bank Group’s portfolio of ways to help developing countries realize their ambitions. Nuclear power also provides baseload power, the foundation on which modern economies are built,” said World Bank Group President Ajay Banga. “Our partnership with the IAEA marks an important step in that direction, and I’m grateful to Rafael for his personal commitment and leadership in making this possible. Together, we will expand our expertise, support countries as they choose nuclear power, and ensure that future work is guided by nuclear safety, security, and sustainability.”
“Today’s agreement is a significant milestone and the culmination of a year of work together since President Ajay Banga kindly invited me to the World Bank Group Executive Board meeting in Washington last June,” said IAEA Director General Grossi. “This landmark partnership, another sign of the world’s return to realism on nuclear energy, opens the door to other multilateral development banks and private investors who see nuclear energy as a viable tool for energy security and sustainable prosperity. Together, we can help more people build a better future.”
Under the memorandum of understanding signed today, the IAEA will cooperate with the World Bank Group in three key areas:
Building nuclear knowledge – to enhance the World Bank Group’s understanding of nuclear safety, security, safeguards, energy planning, emerging technologies, fuel cycles, plant life cycles and waste management; Extending the lives of existing nuclear power plants – to support developing countries in safely extending the lives of existing nuclear power plants, which are one of the most cost-effective sources of low-carbon energy, given that many of the world’s nuclear plants are approaching the end of their original 40-year design lives; Advanced SMR technologies – to accelerate the development of small modular reactors (SMRs), which offer flexible deployment options, lower upfront costs and the potential for widespread deployment in developing economies.
Nuclear power plants currently operate in 31 countries, collectively accounting for about 9% of the world’s electricity generation, or nearly a quarter of all low-carbon generation. More than 30 other countries, most of them developing countries, are considering or are already introducing nuclear power and are working with the IAEA to establish the necessary infrastructure to implement nuclear safety, security, and sustainability principles in this area.
“SMRs have enormous potential for clean, reliable energy systems and poverty alleviation, but funding hurdles remain,” added Director General Grossi. “Today’s agreement is an important first step to clearing the way for them.”
About the World Bank Group: The World Bank Group is dedicated to achieving a world free from poverty on a planet fit for habitation, using a combination of financing, knowledge, and expertise. It comprises the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information, visitVBV.Vorldbank.org,Ida. Voraldbank.org/EN/Hyome,BBV Miga.org,BBV. ifk.org AndGDV. Iks.vorldbank.org.
About the International Atomic Energy Agency (IAEA): The IAEA is an international organization whose aim is to promote the peaceful uses of nuclear energy and prevent its use for military purposes. The IAEA supports its Member States in building a reliable and resilient infrastructure based on the principles of nuclear safety and security, and applies safeguards to verify the peaceful use of nuclear materials and technology.
Contacts:
The World Bank Group (London): David Young, 1 (202) 473-4691,Döung7@vorldbankgroup.org
International Atomic Energy Agency (Vienna): Jeffrey Donovan, 43 699 165 22443,jrdonovan@iaea.org
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