The DSR Bank would be able to offer loans to states and the defence industry, as well as provide security to commercial banks
Germany should join the Defence, Security and Resilience Bank proposed by its NATO allies Canada and Luxembourg, according to the German defence industry association.
Head of the industry association BDSV, Hans Christoph Atzpodien, warned that not joining the bank “would significantly reduce the sales opportunities for the German security and defence industry” in countries that are members. Funding of the bank will be restricted to goods and services from other member countries, which would block purchases with the bank’s funding from non-member countries.
The Defence, Security and Resilience Bank will likely be presented during the NATO summit in Ankara at the beginning of July.
The bank’s main headquarters will be in Canada, while Luxembourg will host the European headquarters, according to Mark Carney, Canada’s Prime Minister.
