The MoU "provides a framework for cooperation on nuclear energy and development, including dialogue, knowledge sharing, technical assistance, capacity building, energy-system planning, and infrastructure".
The International Atomic Energy Agency (IAEA) and Inter-American Development Bank (IDB) will "explore cooperation on the technical, institutional and economic aspects of nuclear technologies, including large-scale reactors, small modular reactors and other emerging technologies".
The IAEA has expanded cooperation over the past two years with a number of international institutions including the World Bank, the Asian Development Bank and CAF-Development Bank of Latin America and the Caribbean.
These agreements have followed a change of attitude in many of the institutions, which previously had been reluctant to lend towards the cost of new nuclear energy projects.
IAEA Director General Rafael Mariano Grossi said the agreement "reflects the growing recognition that nuclear energy can play an important role in supporting sustainable development, energy security and economic growth - 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".
In 2025, 1.8% of electricity was generated by nuclear in Latin America and the Caribbean. The only countries there currently using nuclear power are Brazil, Argentina and Mexico. IAEA projections to 2060 suggest that there could be a 2.5-fold increase in nuclear energy in the region.
The IAEA and the Inter-American Development Bank MoU also broadens existing cooperation on access to health services, including cancer care and control, as well as agricultural productivity, sustainable and climate-resilient agricultural practices, and soil, nutrient and water management.
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