World Bank Group and IAEA Forge Landmark Partnership to Power Development with Nuclear Energy
In a historic move poised to redefine global electrification strategies, the World Bank Group and the International Atomic Energy Agency (IAEA) today formalized a strategic partnership to support the responsible deployment of nuclear energy in developing countries. The agreement, signed in Paris by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, marks the World Bank Group’s first concrete step in decades toward reengaging with nuclear energy—a powerful source of low-carbon, reliable electricity. It also underscores the rising global recognition of nuclear power’s role in meeting future energy demands while supporting climate goals. “Jobs need electricity. So do factories, hospitals, schools, and water systems,” said Ajay Banga. “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 Ba...