Manila: Asian Development Bank (ADB) President Masato Kanda and International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi today signed a memorandum of understanding (MOU) to deepen cooperation on the peaceful, safe, and sustainable use of nuclear energy in Asia and the Pacific.
According to Asian Development Bank, this agreement is a significant step as ADB's updated energy policy recognizes nuclear power as an alternative to fossil fuels for baseload generation. The partnership aims to ensure that developing member countries choosing nuclear power do so with robust safeguards, strong governance, and a clear commitment to sustainability. Mr. Kanda stated, "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."
The agreement sets a framework for the two organizations to support countries exploring nuclear power, including the potential of small modular reactors, as part of their efforts to increase energy access and improve energy security. Notably, ADB is the first regional development bank to sign such a partnership agreement with the IAEA. Mr. Grossi emphasized the importance of this agreement, noting that as ADB opens the door to financing nuclear power, they will quickly identify practical areas of collaboration to meet the rising energy needs across the region.
Before the signing ceremony, Mr. Kanda addressed the International High-Level Forum on Nuclear Technology for Controlling Plastic Pollution (NUTEC Plastics), attended by Philippines President Ferdinand Marcos Jr. He highlighted that ADB's collaboration with the IAEA goes beyond the energy sector to joint efforts on safeguarding ocean health and addressing the region's escalating microplastics challenge.
The partnership draws on ADB's long-standing trust in the region, its ability to finance infrastructure and strengthen governance, and the IAEA's deep technical expertise. Under the MOU, the organizations will collaborate to build knowledge and technical capacity across the full nuclear life cycle. Key areas of cooperation include energy planning, management of nuclear fuel cycles, radioactive waste, and nuclear facilities life cycle management. The IAEA will also provide guidance on safety, security, safeguards, and stakeholder engagement to support informed decision-making.
