{"id":638754,"date":"2026-04-30T14:56:12","date_gmt":"2026-04-30T14:56:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/638754\/"},"modified":"2026-04-30T14:56:12","modified_gmt":"2026-04-30T14:56:12","slug":"ottawa-announces-multinational-defence-bank-to-be-headquartered-in-canada-national","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/638754\/","title":{"rendered":"Ottawa announces multinational defence bank to be headquartered in Canada – National"},"content":{"rendered":"

Canada\u00a0has been selected\u00a0to\u00a0host a multinational\u00a0bank\u00a0to\u00a0provide \u201clong-term, low-cost financing\u201d for\u00a0defence\u00a0projects by NATO<\/a> members and allies, the federal government said Wednesday.<\/p>\n

\"\"<\/p>\n

The Globe and Mail newspaper first reported the decision following the end of multinational negotiations earlier Wednesday that were hosted\u00a0in\u00a0Montreal.<\/p>\n

A news release issued late Wednesday says the\u00a0defence\u00a0bank\u00a0will allow member countries, including\u00a0Canada,\u00a0to\u00a0leverage shared resources\u00a0to\u00a0\u201cmeet today\u2019s\u00a0defence\u00a0challenges.\u201d<\/p>\n

National\u00a0Defence\u00a0Minister David McGuinty,\u00a0in\u00a0the release, called it a \u201cresilient and responsive\u00a0defence\u00a0industrial base \u2014 for\u00a0Canada\u00a0and our allies.\u201d<\/p>\n

A source with direct knowledge told The Canadian Press there\u2019s still a lot\u00a0to\u00a0discuss and sort through \u2014 and cautioned there\u2019s still a world\u00a0in\u00a0which it doesn\u2019t happen.<\/p>\n

Toronto,\u00a0Ottawa, Vancouver and Montreal are all competing\u00a0to\u00a0have the\u00a0Defence, Security and Resilience\u00a0Bank\u00a0located\u00a0in\u00a0their jurisdictions.<\/p>\n

\t\t\t\t\t\t\"Click<\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNATO \u2018should not get involved\u2019 in Iran: former Canadian NATO Ambassador\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Canada\u2019s Big Six banks have all put their support behind the proposed international\u00a0defence\u00a0financing vehicle, which would\u00a0be\u00a0aimed at lowering borrowing costs for military spending.<\/p>\n

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The Canadian Chamber of Commerce applauded the news, saying the\u00a0defence\u00a0industry is a major economic driver and will become a growing force as it attracts more investment.<\/p>\n

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\u201cCanada\u00a0is the right home for this new initiative,\u201d said David Pierce, vice-president of government relations at the Canadian Chamber of Commerce. \u201cIn\u00a0a world where conflict is an ever-present concern, we are grateful our allies have seen the merit\u00a0in\u00a0this move.\u201d<\/p>\n

Pierce said Canada\u2019s\u00a0defence\u00a0industry is an attractive partner, ready\u00a0to\u00a0lead on the world stage.<\/p>\n

\u201cOur world-class\u00a0defence\u00a0industry is a major driver\u00a0in\u00a0the economy right now, which will\u00a0be\u00a0a growing economic force as we increasingly invest\u00a0in\u00a0it,\u201d he said. \u201cWe hope\u00a0to\u00a0see more details and confirmation soon because it\u2019s going\u00a0to\u00a0be\u00a0all hands on deck\u00a0to\u00a0get this right.\u201d<\/p>\n

Ontario Premier Doug Ford said on social media that the\u00a0defence\u00a0bank\u00a0is an opportunity\u00a0to\u00a0put\u00a0Canada\u00a0at the centre of global\u00a0defence\u00a0finance and manufacturing.<\/p>\n

\u201cAs our nation\u2019s financial capital, with a skilled workforce and unparalleled global connectivity, there\u2019s no better place for the\u00a0bank\u00a0to\u00a0be\u00a0headquartered\u00a0than Toronto,\u201d said Ford.<\/p>\n

\n\t\t&copy 2026 The Canadian Press\t<\/p>\n","protected":false},"excerpt":{"rendered":"Canada\u00a0has been selected\u00a0to\u00a0host a multinational\u00a0bank\u00a0to\u00a0provide \u201clong-term, low-cost financing\u201d for\u00a0defence\u00a0projects by NATO members and allies, the federal government said…\n","protected":false},"author":2,"featured_media":638755,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194295],"tags":[49,48,35169,13743,49364,20739,714],"class_list":["post-638754","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ottawa","tag-ca","tag-canada","tag-david-mcguinty","tag-doug-ford","tag-nato","tag-ottawa","tag-politics"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/638754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=638754"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/638754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/638755"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=638754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=638754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=638754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}