Prime Minister Carney said nine countries have committed to a Canada-led global
defence bank, naming Canada, Albania, Belgium, Greece, Latvia, Luxembourg,
Romania, Turkey and Ukraine. Apart from Canada, other G7 members have not
joined, which could constrain the bank's initial capital base. Canada’s foreign
minister said the institution remains open to additional members. A think tank
noted launch conditions have been met but founders had hoped for participation
from larger European powers. The bank is slated to begin operations in 2027 and
aims to mobilise defence-industrial investment to strengthen allies’ collective
security capacity.