In an increasingly uncertain and divided world, Canada is stepping up to lead with allies and partners the establishment of the Defence, Security and Resilience Bank (DSRB).
Multilateral negotiations in Montréal on the DSRB's Charter have concluded, an important first step to set up the new institution. The DSRB will provide long-term, low-cost financing for defence, security, and resilience initiatives across supply chains, helping small- and medium-sized enterprises and member governments to address critical financing gaps.
Together, we have recognized the urgency of crafting a new multilateral institution that will leverage shared resources to support more growth for our industries than can be achieved individually. This will support member nations to be ready and able to meet today's defence challenges with speed and resilience.
Participating countries unanimously supported that, once ratified, Canada, which hosted the negotiations, will serve as host country for the DSRB's future headquarters. The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, along with the Honourable David McGuinty, Minister of National Defence, and the Honourable Anita Anand, Minister of Foreign Affairs, appreciated this decision and recognize that much work remains ahead to establish the DSRB. They reaffirm Canada's commitment to work together with partners on the next critical phase to make the shared vision a reality.
Canada has a strong foundation in finance, defence, aerospace, and advanced manufacturing, alongside a dynamic innovation ecosystem enhanced by the measures outlined in the Government's recent Defence Industrial Strategy, and we are well positioned to support collaboration across borders and industries.
Budget 2025's historic defence plan-including more than $80 billion in investments-alongside Canada's newly unveiled Defence Industrial Strategy, underscore the seriousness with which the government of Canada is advancing its rearmament efforts and reinforces Canada's role as a trusted partner in collective defence and security.
