The International Atomic Energy Agency and industrialized nations see multilateral uranium-enrichment centres as the key to slaking rising demand for nuclear energy without developing nations building proliferation-prone plants on their own soil.
Developing states have reservations, fearing such fuel banks, which would provide enriched uranium from stocks provided by industrialized nations, would curb their sovereign right to homegrown nuclear technology for producing electricity.
Supporters say the idea, decades-old, has taken on urgency given Iran’s pursuit of an enrichment industry while curbing the IAEA access needed to verify the programme cannot be covertly diverted to bomb-making. Iran denies any such intent.
More impetus has come from North Korea’s nuclear test blast.
Part of an IAEA board of governors’ meeting this week was devoted to reviewing progress towards realizing a fuel bank. On Thursday, Kuwait pledged $ 10m to the undertaking, diplomats in the closed-door gathering said.
Kuwait’s move fulfilled a target of $ 100m in matching contributions stipulated by the Nuclear Threat Initiative think-tank, which launched pledges in 2006 with $ 50m offered by US billionaire Warren Buffett.
Then came pledges of $ 50m by the US government $ 31.2m by the European Union, $ 10m by the United Arab Emirates and $ 5 million by Norway.
