The World Bank Group and the International Atomic Energy Agency (IAEA) are working together to bring nuclear energy to the forefront of clean energy solutions for developing countries.
The agreement marks the World Bank’s first active involvement in nuclear energy in decades, showing a dramatic change in how international organizations are tackling the dual challenges of energy poverty and climate change.
With electricity demand across developing countries expected to more than double by 2035, the partnership could unleash a new era of reliable low-carbon forces of billions, while positioning nuclear power as a central pillar of sustainable development.
Why nuclear power is important for developing countries
For many developing countries, access to affordable, reliable electricity remains a sustainable challenge.
Millions still face energy poverty, limiting progress in key areas such as healthcare, education, manufacturing and digital infrastructure.
As these countries aim to industrialize and lift their populations out of poverty, their electricity demand is projected to more than double in the next decade.
Nuclear energy provides a compelling solution. Provides continuous baseload power. This is essential for operating hospitals, factories and transportation systems, where energy disruptions can be costly or life-threatening.
Unlike fossil fuels, nuclear energy produces near-zero carbon emissions, aligns with climate commitments while fossilizing economic growth.
Energy needs are rising sharply. The solution must be scalable
The World Bank’s broader approach to electrification now emphasizes accessibility, affordability and environmental responsibility.
Recognizing that countries have different paths to net zero, banks support energy solutions that best match national development goals and climate commitments.
As fluctuating renewable sources like wind and sunlight expand, the nuclear power’s ability to stabilize the grid becomes increasingly valuable.
The ability to complement renewable energy through frequency regulation and predictable power makes it a critical part of the latest resilient energy mix.
Inside the World Bank – YEA Agreement
The signing was made by the president of World Bank Group Ajay Banga and IAEA Director Rafael Mariano Grossi.
We aim to lay the foundation for long-term support for nuclear power in developing countries, and to deploy safely, safely, and sustainably.
Banga explained: “Employment requires electricity. factories, hospitals, schools, water systems, and as a surge in demand – both AI and development, we must help the country provide reliable, affordable electricity.
“That’s why we embrace nuclear energy as part of our solution, and we are replenishing it as part of the mix that the World Bank Group can provide to developing countries to achieve their ambitions.
“A significant thing is that the nuclear provides the power of the baseload, which is essential to building a modern economy.
“Our partnership with the IAEA is an important step and we thank Rafael for his personal commitment and leadership in making this possible.
“Together, we will deepen our expertise, support countries that choose nuclear power, and ensure that we advance our safety, security and sustainability guide.”
Three pillars of cooperation
The partnership focuses on three strategic areas:
Knowledge Development: The IAEA supports the World Bank to build institutional knowledge of nuclear energy, including safety, waste management, fuel cycles, new technologies, energy planning, and more. Extended reactor lifespan: Many of the world’s nuclear reactors are approaching the original 40-year design limit. A safe extension of their lives provides a cost-effective way for developing countries to maintain low-carbon power. Advance Small Modular Reactor (SMRS): SMR offers scalable, flexible, low-cost nuclear options. Their compact design makes them ideal for small grids that are often found in remote regions and developing countries.
Global meaning and advancement
Currently, 31 countries operate nuclear power plants, generating almost 25% of the world’s low carbon electricity.
More than 30 more in developing countries – many people are working with the IAEA to build the infrastructure needed to implement nuclear power.
This partnership illustrates a major shift in the global energy strategy, where nuclear power is no longer reserved in a sophisticated economy, but has been accepted as an important tool for developing countries seeking sustainable growth.
By unlocking the possibilities of nuclear energy, the World Bank and the IAEA are opening the door to a cleaner, more equitable energy future.
Source link
