OPEC Fund and IAEA expand cooperation to advance sustainable energy and development

The OPEC Fund and the International Atomic Energy Agency (IAEA) have signed a new Memorandum of Understanding (MoU) to deepen collaboration on sustainable energy and technology solutions that support development and energy security. The agreement was signed by OPEC Fund President Abdulhamid Alkhalifa and IAEA Director General Rafael Mariano Grossi during the 2025 World Bank–IMF Annual Meetings in Washington, D.C.

Building on earlier cooperation agreements, the new MoU provides a framework for cooperation on capacity building, policy dialogue and innovation, helping countries diversify energy sources and strengthen resilience. The OPEC Fund seeks to explore how its development financing instruments can complement the IAEA’s technical expertise to unlock investment in safe, reliable and low-carbon energy solutions, including nuclear power.

“Energy drives progress, from powering hospitals and schools to enabling industry and digital growth,” said President Alkhalifa. “As partner countries seek reliable and affordable ways to meet rising demand, this partnership with the IAEA will help them explore safe, secure and sustainable options that expand access and resilience.”

The collaboration builds on ongoing joint work between the two Vienna-based institutions under initiatives such as Rays of Hope and Atoms4Food, combining science, technology and finance to deliver practical solutions for sustainable development.