Step 1: Understanding the Question:
The question asks for the year of establishment of the International Atomic Energy Agency (IAEA).
Step 2: Key Concept:
The IAEA is an international organization that seeks to promote the peaceful use of nuclear energy and to inhibit its use for any military purpose, including nuclear weapons.
Step 3: Detailed Explanation:
The idea for the IAEA was proposed by US President Dwight D. Eisenhower in his "Atoms for Peace" address to the UN General Assembly in 1953.
The statute of the IAEA was approved on October 23, 1956, by a conference at the UN headquarters.
The agency officially came into existence on 29 July 1957.
Although it is an independent organization, it reports to both the UN General Assembly and the Security Council. Its headquarters are in Vienna, Austria.
Step 4: Final Answer
The International Atomic Energy Agency (IAEA) was established in 1957.