Türkiye opts out of defense bank initiative with NATO allies
Türkiye has decided not to join a multinational defense bank initiative involving seven NATO allies and Ukraine after the participating countries formally declared their intention to establish the institution, Turkish defense sources said on July 10.
NATO members Türkiye, Canada, Albania, Belgium, Greece, Latvia, Luxembourg and Romania, together with Ukraine, announced their intention to establish the Defense, Security and Resilience Bank (DSRB) in a joint declaration issued on July 7 during the NATO leaders’ summit held in the Turkish capital Ankara.
Following negotiations held in Montreal, Canada, Turkish authorities conducted an interagency assessment involving representatives from the Defense Ministry, the Foreign Ministry, the Treasury and Finance Ministry and the Presidency of Defense Industries (SSB).
“As a result of these consultations, it was decided that Türkiye would not, at this stage, commit to joining the bank,” the sources said, as quoted by Turkish media.
