EBRD and IAEA expand cooperation
The International Atomic Energy Agency and the European Bank for Reconstruction and Development have signed a memorandum of understanding to broaden their collaboration in the nuclear energy sector.
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The memorandum of understanding (MoU) was signed by IAEA Director General Rafael Mariano Grossi and EBRD President Odile Renaud-Basso at the COP29 UN climate change conference taking place in Baku, Azerbaijan.
Under the new MoU, the IAEA and EBRD will coordinate activities to support countries to build capacity in developing energy policy, energy strategy, governance and financing frameworks, and mechanisms to reach net-zero goals, taking into account the potential for countries to use nuclear energy. Activities will also promote gender equality in the nuclear sector, including through the IAEA Marie Sklodowska-Curie Fellowship Programme and the Lise Meitner Programme.
The IAEA said countries will benefit from the partnership's activities that will support nuclear and radiation safety and technical infrastructure throughout the lifecycle of electrical and non-electrical applications of nuclear energy. This will include the decommissioning of associated facilities and the management of radioactive waste and environmental releases.
The IAEA said the MoU is "a significant step" as it extends its cooperation with the EBRD "beyond nuclear and radiation safety concerns".
The organisations already cooperate within the Coordination Group for Uranium Legacy Sites, on Chornobyl-related projects and peer reviews of EBRD-managed projects.
"Together we are not only building on years of successful cooperation in nuclear safety, but we are opening new doors for capacity building, clean energy and economic resilience," Grossi said. "Partnering with financial institutions, like the EBRD, is essential to unlocking the investments needed for a low-carbon future, ensuring nuclear energy's unique benefits are accessible, safe and sustainable for all."
He highlighted the importance of partnerships with financial institutions and the private sector to scale up nuclear energy. The IAEA invites government, industry, banks and other stakeholders to partner with the Agency and to contribute their financial resources, expertise, industrial knowledge and advocacy.
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