Canada Steps Up Global Defence Finance

Canada is preparing to host a new international bank that will raise money for countries needing stronger military protection. The idea was born from talks in Montreal where Canadian officials met with foreign partners to draft a charter for the Defence, Security and Resilience Bank. The bank’s goal is to become a top‑rated lender that can pull in about 100 billion pounds, roughly 135 billion dollars, to fund defence projects in nations that might not get cheap loans elsewhere. The project has backing from former NATO advisers, senior military leaders and bankers who believe that a dedicated defence bank could fill a gap left by traditional funding sources. Once the charter is approved, Canada will host the bank’s headquarters, a detail confirmed by the finance ministry. The move follows earlier coverage from a national newspaper that first highlighted Canada’s role.Despite the enthusiasm, some European allies have shown caution. Britain and Germany have stepped back from the plan, while Britain is instead promoting a separate partnership with the Netherlands and Finland to encourage private investment in weapons and equipment. Canada’s finance minister, who urged partners to keep momentum, emphasized that the bank is a concrete step toward turning an idea into action. The institution is already in talks with major banks, including JPMorgan, Deutsche Bank and the Royal Bank of Canada, to support its launch.