Key facts
- Ukraine and eight partner countries plan to establish a new international defense bank on November 30.
- The Canada-led Defense, Security and Resilience Bank (DSRB) aims to begin operations in 2027.
- The bank would help governments finance defense needs and manufacturers expand production.
- Canada's Finance Minister Francois-Philippe Champagne announced the bank would be headquartered in Canada with a European hub in Luxembourg.
- Founding members include Ukraine, Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, and Turkey.
Ukraine and eight partner countries are set to sign an agreement on November 30 to establish a new international defense bank, the Defense, Security and Resilience Bank (DSRB), which aims to begin operations in 2027. The Canada-led initiative seeks to provide long-term financing for weapons production and defense needs. Canadian Finance Minister Francois-Philippe Champagne announced that the bank would be headquartered in Canada with a European hub in Luxembourg, covering industrial expansion, critical supply chains, and eligible procurement. The project is reportedly targeting approximately 100 billion euros ($111.3 billion) in capital, with 20 billion euros ($22.3 billion) paid in and 80 billion euros ($89 billion) callable from members. Founding members include Ukraine, Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, and Turkey.