Canada has been selected to host a proposed multinational defence bank aimed at providing long-term, low-cost financing for military and security projects among NATO members and allied countries.
The federal government says the proposed Defence, Security and Resilience Bank would help countries pool resources to strengthen defence capabilities and industrial capacity in response to growing global security challenges. Several Canadian cities, including Toronto, Ottawa, Vancouver and Montreal, are now competing to become the bank’s headquarters, though officials caution discussions are still ongoing and the project is not yet finalized.
Business groups, including the Canadian Chamber of Commerce, say the initiative could boost Canada’s defence sector and position the country as a global leader in defence finance and manufacturing.
