The United Kingdom and Canada are talking about merging their proposed defence financing initiatives to amplify their effects, says a senior Canadian government official.
The official, who was briefing reporters on background, says Ottawa is confident they’ll reach an agreement on bringing the two proposals together to form a joint institution, though that decision may not emerge from meetings this week.
Prime Minister Mark Carney has championed the creation of a global Defence, Security and Resilience Bank to supply allies with low-cost borrowing for defence, and he’s enlisted support from eight countries, including Latvia, Luxembourg and Ukraine.
The United Kingdom’s separate effort, called the Multilateral Defence Mechanism, is designed as a financing vehicle for joint purchases of military equipment and has won support from the Netherlands, Finland and Poland….