IAEA, Inter-American Development Bank expand nuclear cooperation

In Latin America, only Argentina, Brazil, and Mexico currently have operating nuclear power plants. Less than 2 percent of the region's electricity is generated by nuclear energy, in contrast to the roughly 8 percent of electricity generation from nuclear energy globally. These statistics, however, are expected to change, with nuclear deployments set to increase substantially in Latin America in the coming decades.

One sign of this shift is a new memorandum of understanding between the International Atomic Energy Agency and the Inter-American Development Bank to expand the IAEA's collaborations with financial institutions on the use of nuclear energy in Latin America and the Caribbean. The MOU establishes a framework for dialogue, knowledge sharing, technical assistance, capacity building, energy-system planning, infrastructure improvement, and other forms of cooperation on nuclear energy projects in the region.

Under the terms of the new MOU, the IAEA and IDB will expand their cooperation on the technical, institutional, and economic aspects of nuclear technologies, including traditional large-scale reactors and small modular reactors.

The MOU also covers certain nonenergy aspects of cooperation between the IAEA and IDB, for example, broadening cooperation regarding access to health services; agricultural productivity and sustainable agricultural practices; and soil, nutrient, and water management.

International partnerships: According to an IAEA report published earlier this year, "The low case [of nuclear power expectations] projects an almost doubling of global nuclear capacity to 696 GW(e) by 2060, relative to a global operational capacity of 377 GW(e) in 2025. The high case is more ambitious, projecting global operational capacity will more than triple to 1284 GW(e) by 2060."

For Latin America, the IAEA projects nuclear electrical generating capacity to more than double by 2050 and to increase by about 2.5-fold by 2060. Smaller reactors are expected to account for approximately 40 percent of new nuclear capacity in the region.

The IAEA has been increasing its involvement and strengthening its partnerships with numerous international institutions in its mission to help developing countries evaluate the use of nuclear energy. For example, it signed an agreement with the World Bank in 2025 to cooperate on the construction and financing of advanced nuclear projects in developing countries. That agreement, which has led to several collaborative actions, marked the World Bank's first nuclear-related partnership after it ended its ban on funding for nuclear energy projects.

Assessing future energy options: IAEA Director General Rafael Mariano Grossi observed that this new agreement "reflects the growing recognition that nuclear energy can play an important role in supporting sustainable development, energy security and economic growth." He continued, "By combining the IAEA's technical expertise with the IDB's development experience and regional reach, we can help countries in Latin America and the Caribbean make informed decisions as they assess their future energy options."