Canada to unveil founding members of Global Defence Bank at NATO summit

Canada is preparing to co‑announce roughly ten founding nations for a new Defence, Security and Resilience Bank (DSRB) at the upcoming NATO summit in Turkey. The bank aims to raise up to £100 billion ($133 billion) of low‑cost financing to strengthen the defence capabilities of allied countries. Lead negotiator Isabelle Hudon said the initial roster is expected to consist mainly of European states in addition to Canada, though the exact list has not been disclosed. The announcement depends on final capital commitments and securing a triple‑A credit rating. Talks are ongoing with South Korea, which has a 50‑50 chance of joining later, while no other G7 nations are close to signing up.

Prime Minister Mark Carney promotes the DSRB as part of a broader push for a middle‑power alliance to counter what he views as the fracturing of the traditional US‑led world order.