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It demands proximity to government, military, and diplomatic power centresLast updated 19 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Parliament Hill is viewed below a Canada flag in Gatineau, Quebec, Friday, Sept. 18, 2020. THE CANADIAN PRESS/Sean Kilpatrick Photo by Sean Kilpatrick/The Canadian Press filesIn an ongoing series, advocates for the five Canadian cities vying to be the home of NATO’s new Defence, Security and Resilience Bank make their case. Today, Ottawa Mayor Mark Sutcliffe on why the nation’s capital is the right choice.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorIt’s understandable that some would think Toronto is the obvious city to host the Defence, Security and Resilience Bank (DSRB). Toronto is Canada’s largest city and its financial capital.But the DSRB is not just another financial institution like a commercial bank or insurance company. In fact, we shouldn’t think about it as a bank at all. It’s a multinational collaboration and a critical tool for building strategic relationships with our allied partners at a critical time in human history. The DSRB will mobilize both people and capital and make strategic decisions about financing for NATO members and other countries, supporting complex multi-year defence projects that are typically avoided by the traditional lenders on Bay Street.This newsletter from NP Comment tackles the topics you care about. (Subscriber-exclusive edition on Fridays)By signing up you consent to receive the above newsletter from Postmedia Network Inc.We encountered an issue signing you up. Please try againThe question for the federal government is not where to locate a bank, but where an important international security institution can operate most effectively from Day 1.On that question, the only answer is Canada’s National Capital Region.The DSRB’s success will depend less on access to capital (which can be raised globally) than on the natural co-ordination across governments, militaries and allied partners.That coordination already happens in Ottawa-Gatineau.Within the National Capital Region sit the Department of National Defence, Global Affairs Canada, the Privy Council Office, intelligence agencies and more than 130 embassies and foreign missions. These institutions are not adjacent to the DSRB’s mission; they are central to it. Decisions about procurement, export controls, security clearances and allied co‑operation are made here, daily.Ottawa-Gatineau is where policy meets execution.The DSRB is expected to generate approximately 3,500 high-value jobs in finance, research and defence-related sectors. But its true impact will come through its integration into the broader defence economy.That ecosystem already exists in Ottawa-Gatineau.The DSRB would not need to build an ecosystem around it. It would plug into one that is already operating. Not just any ecosystem. The most important defence innovation ecosystem in the country. Over 300 companies. More than 10,000 highly skilled workers.Choosing the headquarters location for an institution of this nature is not a matter of regional economic development. It is a strategic decision that will shape how effectively Canada, and its allies, respond to growing geopolitical risk.A finance-first approach risks adding friction where friction does not need to exist.Locating the bank outside the federal security ecosystem would require building new interfaces between policy-makers, defence officials and financiers — interfaces that already exist in Ottawa-Gatineau. That duplication would slow decisions and dilute accountability when speed and clarity are essential.There is a reason the world’s most consequential multilateral institutions sit where governments operate. The World Bank and IMF are based in Washington. NATO is headquartered in Brussels.These are deliberate choices that reflect a simple principle: institutions of consequence belong where decisions are made.Canada is already moving to strengthen its defence industrial base, including reforming procurement and improving access to capital for defence firms. The DSRB is meant to amplify those efforts — not stand apart from them.Locating the Bank in Ottawa-Gatineau would:• Integrate financing directly with procurement pipelines;• Embed decision-making alongside policy and intelligence; and• Enable faster, more co-ordinated engagement with allies.In practical terms, locating the DSRB in Ottawa-Gatineau would allow the institution to operate effectively from its first day; not years later.At a time when NATO allies are under pressure to rebuild industrial capacity, secure supply chains and respond to emerging threats, the DSRB must operate with speed, trust and co-ordination.Those capabilities are not evenly distributed.The DSRB will succeed not because of where it raises capital, but because of how effectively it aligns finance with policy, procurement and allied strategy, because of its proximity to decision-making, and because of its connections to allied partners across the world.Those attributes exist only in Ottawa-Gatineau. The National Capital Region is already built for this task. That’s why it’s the right place for the DSRB.National PostMark Sutcliffe is mayor of the City of Ottawa. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.