The International Atomic Energy Agency (IAEA) and the Asian Development Bank (ADB) signed a new agreement today to strengthen cooperation in support of countries across Asia and the Pacific that are exploring nuclear energy as part of their long-term energy and development strategies.
The agreement, signed by the IAEA Director General Rafael Mariano Grossi and the ADB President Masato Kanda on the margins of the International High Level Forum on NUTEC Plastics in Manila, Philippines, comes at a pivotal moment: on 24 November, the ADB’s Board of Directors revised its energy policy to support nuclear power, including investment measures for the first time as a pathway for decarbonization. Following this policy shift, the IAEA welcomed ADB’s indication to begin discussions to identify concrete areas and potential projects for collaboration.
“This new partnership is an important step to unlocking investment in nuclear energy projects,” Mr Grossi said. “Today’s agreement marks an important step forward. As ADB opens the door to financing nuclear power, we will move quickly to identify practical areas of collaboration that respond to rising energy needs of countries across the region. ADBs new direction on nuclear financing and the IAEA’s technical leadership create a powerful combination. Our teams will now begin shaping concrete initiatives that deliver reliable, low carbon energy and strengthen resilience for millions of people,” Mr Grossi said.
“With ADB’s updated energy policy recognizing nuclear power as an alternative to fossil fuels for baseload generation, this agreement ensures that developing member countries choosing this path do so with robust safeguards, strong governance and a clear commitment to sustainability,” Mr Kanda said. “We are committed to helping the region make informed choices that balance the need for energy access with the imperative of energy security and a sustainable future.”
Following the Agency’s landmark agreement with the World Bank earlier this year, which was signed by DG Grossi and the World Bank President Ajay Banga, today’s agreement opened the door for global development institutions to support nuclear power. It further broadens that international momentum, strengthening support for countries that are turning to nuclear energy to enhance energy access, security and resilience.
The agreement provides a framework for collaboration on innovative nuclear technologies that can help countries across Asia and the Pacific diversify their energy mix and meet growing power demand. It will support ADB in broadening its technical understanding of nuclear power—covering areas such as energy planning, infrastructure development and the integration of nuclear options into clean-energy transition strategies.
The IAEA lists 37 embarking countries that are considering, planning or are well advanced in introducing nuclear power into their energy mix. More than a third of those embarking countries are ADB member countries.
This new milestone builds on the existing cooperation framework agreement between the IAEA and ADB. Through this framework, both institutions have been working together across shared priorities such as health, food security, environmental protection, water management and energy planning.
