What is the DSRB?
The DSRB is modelled after the World Bank. It would finance defence, security and resilience projects for NATO members and allied nations, helping governments cover costs and close funding gaps across allied supply chains.
Canada was officially selected as the bank’s host nation late last month. Toronto, Vancouver, Ottawa, Montreal and Halifax are all vying to become the DRSBs permanent home. The federal government is expected to make its final decision in the coming months.
Leaders make the case for Toronto
The May 12 event brought together leaders from government, finance, business and post-secondary education. Speakers made the case that Toronto’s financial expertise, global business connections and research capacity make it the strongest choice.
Attendees included Premier Doug Ford, Toronto Mayor Olivia Chow, OMERS President Blake Hutcheson, Chief Executive Officer of Ontario Shipyards Shaun Padulo and MP James Mulroney.
Speakers pointed to Toronto’s concentration of major banks, pension funds, institutional investors and globally connected industries as key strengths that would support the DSRB’s long-term success.