The World Bank has signed a memorandum of understanding with the International Atomic Energy Agency (IAEA) to advance the safe development and financing of nuclear power in developing countries.
The agreement marks the World Bank’s renewed engagement with nuclear energy financing. The partnership aims to strengthen the World Bank Group’s understanding of nuclear safety, security, energy planning, and waste management. The two institutions also plan to collaborate on extending the lifespan of existing nuclear power plants and supporting the development of small modular reactors as a low-carbon, cost-effective energy source for emerging economies.
