In a significant move to bolster collective security, Canada has spearheaded the creation of the Defence, Security and Resilience Bank (DSRB), a new multilateral financial institution aimed at mobilizing private capital to support defense initiatives. The DSRB's founding Articles of Agreement were finalized in April 2026 during multilateral negotiations in Montréal, where participating countries unanimously selected Canada as the host for the bank's future headquarters.
At the 2026 NATO Summit in Ankara, Prime Minister Mark Carney announced that Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine have committed to supporting the DSRB. These nations will play a pivotal role in defining the bank's initial policies and directives, shaping its operations, and ensuring that its benefits flow to their respective economies.
The DSRB is designed to provide long-term, low-cost financing for defense, security, and resilience initiatives across supply chains. By offering guarantees and loans, the bank aims to increase the availability of affordable capital for member countries, particularly small and medium-sized enterprises, addressing critical financing gaps. This initiative is expected to lead to significant job creation across member countries, with new orders for businesses in defense industries and new partnerships in emerging sectors such as AI, quantum computing, space, and cyber.
The establishment of the DSRB comes in response to the pressing need for allies to produce defense capabilities rapidly and at scale, especially in light of global security challenges. The bank is a pragmatic, forward-looking response that will help mobilize the investment needed to meet these challenges.
Canada now invites partner countries to undertake their respective domestic treaty processes with the shared objective of making the DSRB operational in 2027. Together with allies and partners, Canada will continue leading the next phase of this work to bring the bank into operation and strengthen collective security for the years ahead.
The DSRB is expected to complement existing national and multilateral instruments that support defense production, ensuring a coordinated and effective approach to enhancing global defense capabilities. By leveraging a strong credit rating, the bank aims to provide affordable financing options, thereby easing inflationary pressures across defense and dual-use industries and enabling countries to make better use of their defense investments while strengthening industrial capacity across the alliance.
The establishment of the DSRB marks a significant milestone in international defense cooperation, reflecting a shared commitment among member countries to strengthen both collective security and economic resilience. By mobilizing public and private investment, Canada and its allies are building the industrial capacity needed to respond to today's challenges and support a stronger alliance for the future.
As the host nation, Canada is leading the establishment of the DSRB alongside allies and partners. The bank will provide long-term, low-cost financing for defense, security, and resilience initiatives across supply chains, helping governments and small and medium-sized enterprises address critical financing gaps. It will provide guarantees that increase the availability of affordable capital, while also offering loans to member countries for priority investments. Above all, the DSRB will lead to significant job creation across member countries – with new orders for businesses in defense industries and new partnerships in emerging sectors from AI and quantum to space and cyber.
Lowering the cost of capital will help ease inflationary pressures across defense and dual-use industries, enabling countries to make better use of their defense investments while strengthening industrial capacity across the alliance. The DSRB will complement – not duplicate – national and multilateral instruments that support defense production.
Canada now invites partner countries to undertake their respective domestic treaty processes with the shared objective of making the DSRB operational in 2027. Together with allies and partners, Canada will continue leading the next phase of this work to bring the bank into operation and strengthen our collective security for the years ahead.
The DSRB is expected to complement existing national and multilateral instruments that support defense production, ensuring a coordinated and effective approach to enhancing global defense capabilities. By leveraging a strong credit rating, the bank aims to provide affordable financing options, thereby easing inflationary pressures across defense and dual-use industries and enabling countries to make better use of their defense investments while strengthening industrial capacity across the alliance.
The establishment of the DSRB marks a significant milestone in international defense cooperation, reflecting a shared commitment among member countries to strengthen both collective security and economic resilience. By mobilizing public and private investment, Canada and its allies are building the industrial capacity needed to respond to today's challenges and support a stronger alliance for the future.
As the host nation, Canada is leading the establishment of the DSRB alongside allies and partners. The bank will provide long-term, low-cost financing for defense, security, and resilience initiatives across supply chains, helping governments and small and medium-sized enterprises address critical financing gaps. It will provide guarantees that increase the availability of affordable capital, while also offering loans to member countries for priority investments. Above all, the DSRB will lead to significant job creation across member countries – with new orders for businesses in defense industries and new partnerships in emerging sectors from AI and quantum to space and cyber.
Lowering the cost of capital will help ease inflationary pressures across defense and dual-use industries, enabling countries to make better use of their defense investments while strengthening industrial capacity across the alliance. The DSRB will complement – not duplicate – national and multilateral instruments that support defense production.