NEA Director-General William D. Magwood, IV, expressed his enthusiasm for the World Bank's decision to fund nuclear energy projects, highlighting the opportunity to strengthen the partnership between the two organizations.

According to Magwood, the World Bank's involvement is crucial in ensuring global access to nuclear energy. He emphasized the NEA's active support in helping the bank enhance its expertise in the nuclear energy sector.

The collaboration between the NEA and the World Bank is expected to play a significant role in facilitating the financing of nuclear energy projects worldwide, ultimately contributing to energy security and economic development.

Both organizations are currently engaged in supporting countries in the Global South through international development finance for nuclear energy initiatives. They are closely monitoring advancements in areas such as small modular reactors (SMRs) and the long-term operation of existing nuclear power plants, which have been identified as key areas of interest by the World Bank.

A recent meeting between an NEA delegation and senior experts from the World Bank involved detailed discussions on the global landscape of nuclear energy and the common challenges faced by NEA member countries and nations in the Global South looking to expand their nuclear capabilities.