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Thompson/National PostCanadian Imperial Bank of Commerce says it has committed to spend $2 billion to help small and medium-sized defence-related businesses grow in a sector that has increasingly become important for boosting Canada’s economy.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 Accountor“Canadian companies in the defence and resiliency ecosystem are poised to play a critical role in strengthening our economy, advancing innovation and enhancing national resilience,” Susan Rimmer, CIBC’s head of commercial banking, said in a statement on Thursday. “We are bringing together funding, sector expertise, market access and strategic connections to help Canadian businesses.”Businesses that can receive funding include those belonging to the energy, cybersecurity, digital capability, infrastructure and advanced technology sectors.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 againPrime Minister Mark Carney’s government has been looking to accelerate key energy projects and increase investments in the defence sector as a way to boost Canada’s economy and reduce its reliance on the United States.On Wednesday, Royal Bank of Canada announced a $1.4-billion initiative to invest in Canadian technology companies that have the potential to become global powerhouses. The lender will look to make direct equity investments in Canadian companies.CIBC chief executive Harry Culham said the bank’s $2-billion commitment reflects its confidence in Canadian businesses and its determination to help them access the financial support they need to scale and succeed.“Canadian businesses in the defence and resiliency ecosystem have the expertise and ambition to lead,” he said in the statement.Ottawa’s push to expand its defence sector is one of the most significant financing initiatives in Canada’s history, Culham said in May.“Let me be clear: we recognize the urgency of this moment,” he said at a conference back then. “This presents a once-in-a-generation opportunity to invest in our economy.”nkarim@postmedia.com 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.