Canada plans to jointly announce about 10 founding members of a proposed Global
Defense Bank at next week’s NATO summit in Turkey, Canada’s chief negotiator
said. Prime Minister CARNEY is pushing to establish a Defense, Security and
Resilience Bank (DSRB) as part of a push this year to build a middle-power
alliance. “We are using the NATO summit as the deadline… we intend to announce
the list of founding members,” said Isabelle Houghton, chief negotiator and CEO
of the Business Development Bank of Canada. The bank aims to raise up to £100bn
($133bn) of low-cost financing to bolster allies’ defense. Houghton said the
inaugural members will likely be European states but declined to name them.
