A cluster of mostly smaller NATO allies has committed to a new institution built to finance the West's military build-up, though the hesitancy of Europe's heavyweight nations casts doubt over how much financial firepower it can ultimately command.
Canadian Prime Minister Mark Carney announced the nine founding backers of the Defence, Security and Resilience Bank (DSRB) at the NATO summit in Ankara on Tuesday, calling it a foundation for the allies' collective security.
The signatories, Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine, will shape the bank's initial rules before its planned launch in 2027.
First proposed in 2024 by a group of former NATO advisers, senior military figures and bankers, the DSRB will be headquartered in Canada, with a European base planned in Luxembourg.
Cheaper money for costly rearmament
