Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsCanada wins support from 8 countries for new Defence BankOther supporting countries are Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and UkraineAuthor of the article:Last updated 6 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Prime Minister Mark Carney, arrives for a news conference on the flight deck of HMCS Robert Hampton Gray, where he was to make an announcement concerning the submarine procurement for the Royal Canadian Navy at HMC Dockyard in Halifax Monday July 6, 2026. Photo by TIM KROCHAKPrime Minister Mark Carney said eight other countries have agreed to back the Defence, Security and Resilience Bank, a new financial institution that would invest in the defence industry and be hosted by Canada.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.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.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.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.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 AccountorAlong with Canada, the initial supporting countries of the DSRB are Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine, Carney’s office said in a statement Tuesday.The announcement was timed to coincide with the North Atlantic Treaty Organization summit in Ankara, Turkey.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try again“Leveraging a strong credit rating, the bank will provide long-term, low-cost financing for defence, security, and resilience initiatives across supply chains, helping governments and small and medium-sized enterprises address critical financing gaps,” Carney’s office said in a statement.Canada wants to bring the DSRB — dubbed a “bomb bank” by some — into operation next year and has encouraged countries to join. However, there’s potential overlap with other efforts to pool financial resources toward rearmament.Earlier on Tuesday, the United Kingdom, Poland, the Netherlands and Finland said they were making “significant progress” on a separate financing initiative called the Multilateral Defence Mechanism, aimed at creating cost efficiencies. European nations are in the middle of a massive military buildup to deal with escalating security threats from Russia.Some U.K. officials would like the MDM and DSRB to work together or even merge, according to a person familiar with the matter. 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.