UN nuclear watchdog’s board agrees to €25 million budget hike for 2010

The United Nations nuclear watchdog’s board has approved an almost €25 million increase in the agency’s 2010 budget enabling the watchdog to continue its work.

The Vienna-based International Atomic Energy Agency (IAEA) will receive over €318 million in its regular budget next year, with the biggest funding boost going to work in nuclear security and safety, technical cooperation, nuclear power and nuclear applications.

The IAEA Board of Governors also agreed to a capital investment fund to support major infrastructural spending, during its meeting at the agency’s headquarters yesterday.

“The risk of terrorists obtaining nuclear or radioactive materials and using them in a potentially devastating attack will grow if the highly inadequate staffing and funding of our nuclear security activities are not dealt with,” the outgoing IAEA Director General Mohamed ElBaradei told the Board at its 15 June meeting.

In addition, a commission of experts has found that the IAEA needs €80 million upfront to deal with its dilapidated infrastructure, Mr. ElBaradei pointed out at the June gathering of the Board of Governors, which comprises of 35 member States.

Along with a 2.7 per cent real growth increase and a 2.7 per cent price adjustment, the budget also contains a number of cost-cutting measures, according to a news release issued by the IAEA.

The approved draft resolution of the budget for 2010 is slated to be taken up for adoption at the IAEA General Conference in September.