Key facts
- Nine countries have committed to supporting Canada's proposed Defence, Security and Resilience Bank (DSRB).
- The DSRB aims to raise up to $134 billion (100 billion pounds) in low-interest financing for defence projects.
- Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine are among the committed nations.
- The bank intends to provide loan guarantees to private banks to support the defence industry.
- Canada aims for the DSRB to be operational by 2027.
Canada announced that nine countries have committed to supporting its proposed multilateral Defence, Security and Resilience Bank (DSRB), a move aimed at bolstering allied defence capabilities. The bank, promoted by Prime Minister Mark Carney, intends to raise up to $134 billion (100 billion pounds) in low-interest finance. The committed nations, including Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine, will help define the bank's initial policies and operations. Canada aims for the DSRB to be operational by 2027, with the goal of strengthening the defence industrial base and ensuring allies can meet global challenges. The initiative is also open to further members.