The World Bank Group and
the International Atomic Energy Agency (IAEA) sealed an agreement today 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, formalizes 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 prioritizes 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.
“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 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.”
Under the memorandum of understanding signed today, the IAEA will work with the World Bank Group in three key areas:
- Build knowledge related to the nuclear field: Expand the World Bank Group’s understanding of nuclear safety, security, safeguards, energy planning, new technologies, fuel cycles, reactor lifecycles, and waste management.
- Extend 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.
- Advance SMRs: Accelerate the development of small modular reactors (SMRs), which offer flexible deployment, lower upfront costs, and potential for wide adoption in developing economies.
Thirty-one countries currently operate nuclear power plants, which combined produce about 9% of the world’s electricity, amounting to almost a quarter of all low-carbon power globally.
More than 30 other countries, most of them in the developing world, are considering or already embarking on the introduction of nuclear power and are working with the IAEA to develop the necessary infrastructure to do so safely, securely and sustainably.
“SMRs have great potential to cleanly and reliably power progress and fight poverty, but financing remains a roadblock,” Director General Grossi said. “Today’s agreement is a crucial first step to clearing that path.”
Source: IAEA 
She then visited Continental Blue Investment Ghana Limited, where she had productive discussions with the Managing Director, Mr Frederic Albrecht, and the General Manager of Operations, Mr Remi Touvet, on improving business relations.
Her third stop was at the West African Gas Pipeline Company (WAPCo), where Ms. Blay met with a team led by the General Manager of Operations, Mr Abubakar Bello Gwadabe.
Accompanied by Ing Benoni Owusu Ayeh, Mr Samuel Buckman, and Mr Kwamina Abaka, their discussions focused on strengthening gas transportation networks and operational efficiency across the region.
She continued her visit to Sentuo Oil Refinery Limited, where she was welcomed by the Sentuo Group Chairman, Mr Ningquan Xu, Consultant and Group Corporate Affairs Representative, Dr George Dawson, Plant Manager, Mr Albert Duncan, and Corporate Affairs Manager, Mr Benjamin Cobblah.
Their discussion centered on Ghana Gas’ vital role in supporting downstream refining operations.
Ms. Blay also engaged with officials from the Volta River Authority (VRA) to reaffirm the strong partnership between the two institutions in advancing reliable power generation and ensuring energy sustainability for the country.
The visit concluded with a tour of the Tema Regulating and Metering Station (TRMS).
Ms. Blay commended the staff for their hard work and dedication, recognising the station’s key contribution to maintaining the stability and security of Ghana’s energy supply.
Source: https://energynewsafrica.com 
“This strategic initiative do not only see to reinforce interconnection between our two countries but also improve grid stability, enhance operational reliability and provide a robust platform for power exchange within West Africa electricity market,” he said.
Côte d’Ivoire’s Deputy Minister for Mines, Petroleum and Energy, Hon. Baptiste Aka Kadjo, highlighted the long-term benefits.
“This stands as a defining moment for our shared energy future — fostering stability, resilience, and socioeconomic growth across borders.”
Maame Tabuah Ankoh, the Work Bank’s Senior Energy Specialist, who reaffirmed the commitment of the bank, said the bank is very happy about the progress made towards the realisation of the project.
“This project is a pivotal step towards developing regional electricity, trading and integration,” she said.
Source: https://energynewsafrica.com 
Representing the Minister for Energy and Green Transition, Ing. Solomon Adjetey-Sowah described the project as a “crucial step towards regional energy integration.” He commended the extensive feasibility study, noting it provides a solid foundation for informed decision-making.
“This robust framework will facilitate seamless project implementation and ensure collaboration rooted in mutual trust, transparency, and shared responsibility,” he emphasized. Ghana reaffirmed its commitment to the project’s success, pledging support in expertise, resources, and institutional backing.
The successful implementation of the 330kV interconnection project is expected to improve operational efficiency across the WAPP network, foster energy security, and catalyze economic growth, solidifying the partnership between Ghana and Côte d’Ivoire as a driving force in West Africa’s energy transformation.
Source: https://energynewsafrica.com 
