New Era for Nuclear: World Bank and IAEA Collaborate on Clean Energy Expansion

On June 26, 2025, the World Bank and IAEA signed a historic agreement in Paris to promote nuclear energy in emerging economies. This follows the Bank’s decision to end a decade-long restriction on nuclear project financing. The move reflects growing consensus on nuclear energy’s role in low-carbon development. World Bank President Ajay Banga emphasized the need for reliable baseload power to support industrial growth and AI infrastructure. The IAEA will provide technical expertise, while the Bank offers financing and safeguards. The partnership could unlock new nuclear projects in Africa, Asia, and Latin America. Implementation will prioritize safety, transparency, and public trust.