Overview
- Canada said nine countries pledged support for the DSRB on July 7, 2026, with Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, Ukraine and Canada agreeing to define initial policies for the bank.
- The DSRB seeks up to £100 billion in financing and is pursuing a triple-A credit rating so it can sell low-cost bonds, offer long-term loans and provide loan guarantees to defence projects.
- Canada has been named host and Luxembourg will be the European base, and Isabelle Hudon of the Business Development Bank of Canada is leading negotiations for the institution.
- Major commercial banks and Canada’s big banks have joined the effort to underwrite and support operations, but the absence of large G7 European powers limits the bank’s immediate capital reach and political heft.
- Partners have been asked to complete domestic ratification with a goal to make the bank operational in 2027, and the DSRB is intended to close financing gaps for SMEs and speed up production of critical defence capabilities.