NATO sees new $50 bn long‑range strike fund and €100 bn defence bank proposals

The United Kingdom has put forward a proposal for a $50 billion (about €46 billion) NATO fund to develop and acquire long‑range strike systems, aimed at strengthening the alliance’s conventional deterrence against Russia. The plan envisions joint contributions from member states and could serve as a coordination mechanism for European weapons procurement rather than a wholly new technology programme.

At the NATO summit in Ankara, Canada announced the creation of a Defence, Security and Resilience Bank (DSRB) with nine founding members – Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine – targeting up to £100 billion (approximately €117 billion) of cheap financing for the alliance’s re‑armament needs as NATO seeks to raise defence spending toward 5 % of GDP by 2035. Major European powers such as the United Kingdom, Germany and France have not joined the bank, favouring a separate UK‑led Multilateral Defence Mechanism that would focus on joint procurement and stockpiling.