The federal government says Canada will host a planned multilateral defence bank aimed at providing Canada and its allies with low-cost, long-term financing for defence and security needs.
The Defence, Security and Resilience Bank (DSRB) is still in the development stage, with participating countries working to finalize its legal structure, governance model, and operational framework ahead of its formal establishment, the government says.
Finance Minister François-Philippe Champagne said he is “very pleased with the progress made during recent negotiations in Montreal,” calling them “a crucial step in taking the DSRB from idea to reality.”
The proposed DSRB would help fund defence procurement and enable governments and industry to access capital, while also encourage private-sector participation through guarantees and other financial tools, the government said….