The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, the Honourable David McGuinty, Minister of National Defence, and the Honourable Anita Anand, Minister of Foreign Affairs, welcome Canada's role as host of in-person negotiations beginning today among representatives from eighteen countries to establish the Defence, Security and Resilience Bank (DSRB). This new multilateral financial institution will bring together likeminded partners to mobilize and deploy private capital and support collective security.
The DSRB will provide long-term, low-cost financing for defence, security, and resilience initiatives across supply chains, helping to address critical financing gaps, with benefits for member governments and defence firms, particularly small- and medium-sized enterprises. The DSRB will also be an important new tool to strengthen collaboration with allies and like-minded partners on defence and security and will support member nations in their efforts to ramp up defence investments.
In the months ahead, Canada will work closely with international partners in advancing the DSRB initiative. As part of this effort, the first in-person round of negotiations kicks off in Montréal on March 23 and runs until March 26, working toward a charter that will define the governance and operations of the Bank. In this context, Canada is playing a leading role, building on its broader efforts to strengthen national defence and support its defence industrial base.
Budget 2025's historic defence plan - including more than $80 billion in investments - alongside Canada's newly unveiled Defence Industrial Strategy, underscores 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. This leadership, combined with Canada's robust financial sector and growing defence industrial base, is driving growing interest in establishing the Bank's headquarters in Canada.
In an increasingly uncertain and divided world, Canada is stepping up to lead with partners in building the DSRB as a cornerstone of collective security. By mobilizing capital at scale and strengthening industrial capacity, the DSRB will help ensure that Canada and its partners are equipped to meet today's defence challenges with speed, resilience, and unity.
