UAE Pledges $10 Million to IAEA Fuel Bank

The United Arab Emirates has promised to contribute $10 million to an international nuclear fuel bank to be administered by the International Atomic Energy Agency, UAE officials announced today (see GSN, Aug. 5).

IAEA Director General Mohamed ElBaradei has promoted the fuel bank concept as a way to discourage developing nations from building their own fuel production facilities which could also be used to produce material for nuclear weapons. The bank would ensure that nations could purchase nuclear power plant fuel even if their commercial market supply was disrupted.

UAE leaders have been exploring nuclear power in conjunction with five other members of the Gulf Cooperation Council (see GSN, March 24), and this year the nation inked a nuclear cooperation agreement with the United States (see GSN, April 21). The nation’s nascent nuclear policy has called for acquiring nuclear fuel only on open markets. ....