An advanced safety guide to help advance nuclear energy development in developing nations has been put together by the World Bank Group and the International Atomic Energy Agency (IAEA).
Both parties sealed the agreement to work together to support the safe, secure and responsible use of nuclear energy in developing countries.
The partnership agreement signed by World Bank Group President, Ajay Banga and IAEA director general, Rafael Mariano Grossi, formalises multiple engagements between the two institutions over the last year, and marks the World Bank Group’s first concrete step to reengage with nuclear power in decades.
The agreement also reflects a new, broader approach by the World Bank Group to electrification—one that prioritises accessibility, affordability, and reliability, while managing emissions responsibly. With electricity demand in developing countries expected to more than double by 2035, this approach aims to help countries deliver the energy people need by enabling pathways that best fit their national context, including development objectives and Nationally Determined Contributions.
Nuclear energy provides continuous baseload power, enhancing grid stability and resilience.
Reliable baseload electricity is essential for job-generating sectors such as infrastructure, agribusiness, healthcare, tourism, and manufacturing.
Nuclear power is also a source of high-skilled employment and stimulates investment across the broader economy.
In addition, it can adjust to changes in electricity demand and support frequency regulation, enabling greater integration of variable renewable energy sources.
“Jobs need electricity. So do factories, hospitals, schools, and water systems. And as demand surges—with AI and development alike—we must help countries deliver reliable, affordable power. That’s why we’re embracing nuclear energy as part of the solution—and reembracing it as part of the mix the World Bank Group can offer developing countries to achieve their ambitions. Importantly, nuclear delivers baseload power, which is essential to building modern economies,” said World Bank Group president Ajay Banga.
To him, “Our partnership with the IAEA marks an important step, and I’m grateful to Rafael for his personal commitment and leadership in making this possible. Together, we’ll deepen our expertise, support countries that choose nuclear, and ensure that safety, security, and sustainability guide every step forward.”
“Today’s agreement is a milestone and the result of a year of joint work since President Ajay Banga kindly invited me to the World Bank Group Executive Board in Washington in June of last year,”IAEA director general, Rafael Mariano Grossi said.
“This landmark partnership, yet another sign of the world’s return to realism on nuclear power, opens the door for other multilateral development banks and private investors to consider nuclear as a viable tool for energy security and sustainable prosperity. Together, we can help more people build a better future,” he added.
Under the memorandum of understanding , the IAEA will work with the World Bank Group to help buildings knowledge related to the nuclear field: This will further help to expand the World Bank Group’s understanding of nuclear safety, security, safeguards, energy planning, new technologies, fuel cycles, reactor lifecycles, and waste management.
The partnership will also consider extension of the lifespan of existing nuclear power plants: Support developing countries in safely extending the life of existing nuclear reactors-one of the most cost-effective sources of low-carbon power-as many global reactors near the end of their original 40-year design life.
