British Columbia releases it's own Bid Book for Vancouver to host the Defense, Security, Resilience Bank

Noah Note really

Government is supporting private-sector bid to locate the new multilateral Defence, Security and Resilience Bank headquarters in Vancouver

Opportunity would bring approximately 3,500 high-paying jobs

Builds on the Province’s Look West economic and job creation strategy by positioning key sectors to benefit from generational federal defense investments

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The Province of British Columbia is supporting a private-sector-led proposal to the Government of Canada to put forward Vancouver as the preferred home for the new international headquarters of the Defence, Security and Resilience Bank (DSRB).

“Vancouver is the perfect place to establish the headquarters of this new bank,” said Premier David Eby. “B.C. has what the world needs, as well as major ports and strong relationships with NATO nations and allied partners. As the economic engine of the new Canadian economy, we are ready to seize the economic and strategic advantages in hosting a global institution of this scale.”

The DSRB is a newly created multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations. As countries around the world increase investments to secure borders and meet their geopolitical commitments, the DSRB is intended to help address financing challenges facing governments and industry. Canada is among the leading contenders to host the headquarters. Once fully established, the bank is expected to include up to 40 member countries and play a central role in supporting global security.

A global institution with local economic impact

Locating the DSRB headquarters in Vancouver would generate significant long-term economic benefits. Early estimates indicate the headquarters could create approximately 3,500 high-paying jobs in defence finance, international operations and specialized research and analysis.

Vancouver would also host regular international meetings of member nations, bringing delegations, investment opportunities and global visibility to B.C.

“British Columbians understand that our national security and defence capabilities matter now more than ever,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Hosting the DSRB headquarters in B.C. aligns with our Look West plan and is an important step that allows our province to expand Canada’s defence capacity, while anchoring investments that will create opportunities for people and communities across B.C. and Canada. This positions us to play an essential role in Canada’s security, while building a stronger economy for British Columbians.”

Leveraging Vancouver’s strategic advantages

Vancouver offers a unique combination of strengths that align with DSRB’s needs, including:

• Strategic global position that connects NATO partners with key allies in the Indo-Pacific region, and features an active, robust consular corps from all allied nations

• Capacity to host the DSRB using existing institutions, infrastructure and talent to minimize incremental federal costs

• Anchoring B.C.’s defence-related industrial base across marine, aerospace and ocean technologies

• Strengths in AI, quantum tech, aerospace, marine and cybersecurity with rapidly growing dual-use innovators, such as Photonic, AbCellera and Sanctuary AI

• Being home to Canada’s largest and most-integrated port, and a world-class airport that provides direct access to almost all DSRB member countries

“Vancouver is the strategic choice for the Defence, Security, and Resilience Bank,” said Bridgitte Anderson, president and CEO, Greater Vancouver Board of Trade. “Our city offers a secure, world-class environment that naturally attracts global talent. With a deeply integrated international business community, Vancouver is ready to accelerate the bank’s operations and deliver immediate results for our collective security.”

Supporting B.C.’s economic future

Backing the DSRB bid aligns with B.C.’s Look West strategy to create good jobs, attract investment and expand opportunities for people and businesses throughout the province. Hosting a major international financial institution would strengthen B.C.’s economic resilience and position the province as a leader in the rapidly evolving global security and resilience sector.

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Quick Facts:

• The Vancouver bid is being led by the Pacific Security Bank Bid Committee, which includes prominent local business leaders.

• The DSRB is expected to be fully established by the end of 2026 and is anticipated to include up to 40 member countries

• Link to bid document: https://news.gov.bc.ca/files/DSRB_Vancouver_Bid_Book.pdf

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Noah’s Note: No one cares more about this bank than Canadians. We have become almost obsessive over it compared to everyone else. Many of my European friends didn't even know it was a thing until I mentioned it. Anyways, Dougie can't be the only one in on this; British Columbia throws Vancouver into the ring.

​Admittedly, their bid book is not as nice as Ontario’s. However, there are a few specific things it highlights, including Vancouver’s geographic location in the Pacific Time Zone. This allows it to conduct same-day operations across three major economic regions. The city also boasts operational readiness, supported by world-class infrastructure including the Vancouver International Airport (ranked as North America's best) and the Port of Vancouver, Canada’s premier port.

​It further boasts of the province's deep and specialized talent pool, particularly in high-demand fields such as cybersecurity, AI, and quantum computing. This includes globally significant companies with direct defense and security relevance, such as MDA and D-Wave Systems. To facilitate an immediate launch, Vancouver has identified secure, transit-connected office spaces like TELUS Garden and The Exchange, which can accommodate operations as early as mid-2026.

​It isn't a bad document, mind you, and I highly recommend you read the whole thing. Along with this, the bid book includes several dozen endorsements from BC-based businesses, including:

The following organizations and companies provided formal letters of endorsement for the Vancouver bid:

• Greater Vancouver Board of Trade

• Weatherhaven

• Vancouver International Airport (YVR)

• BC Hydro

• Purdys Chocolatier, my favourite defence company

• Ebco Industries Ltd. / Advanced Cyclotron Systems Inc.

• Kingswood Capital Corporation

• AG Hair Ltd.

• British Columbia Institute of Technology (BCIT)

• Boyden

• Industrio AI

• The Jim Pattison Group

• Ameekha Solutions Inc.

• KPMG LLP

• Kryton International Inc.

• H.Y. Louie Co. Limited

• Richberry Group of Companies / Ocean Spray

• Science World

• TELUS

• Pacbridge Partners

• Angus Reid Group

  Research Universities Council of British Columbia (RUCBC), representing:

• Simon Fraser University

• The University of British Columbia

• University of Victoria

• Juno Industries Inc.

• Tower Beach Capital Ltd.

• Innovex Equities Corporation

• NorLand Limited

• RBC Royal Bank

• MacDonald Development Corporation

• Acuitas Therapeutics

I feel it's always good to remind people what the Defence, Security, and Resilience Bank (DSRB) actually is. Some of you questioned last time why I quoted myself and reused my previous explanation. Simply put, it's the best I’m going to get at explaining the organization.

​The DSRB envisions itself as a conduit delivering long-term, low-cost financing for defence and dual-use projects, backed by the combined credit strength of member states and financial tools from private partners.

​The bank will provide AAA-backed loans and guarantees, not just to countries looking to finance new procurements, but also to companies looking to strengthen the Western Defence Industrial Base and supply chain.

The bank is owned by the collective member states that sign the charter. As a cost of signing, member states pay an immediate contribution (representing 20% of the bank's funding) to provide initial capital. This is supported by Callable Capital, which will be backed by the proposed AAA-rating the bank aims to secure through the ownership of its member states.

​In theory, this allows member states and industry access to significant capital without having to take on the debt directly. It provides defence-specific financial support that doesn't contain the restrictions of programs like SAFE, while providing more long-term, diverse financing options.

The bank envisions itself as a global system accessible to NATO members, EU member states, and Indo-Pacific partners. It is not a "NATO fund" as some media portrays it. It is an open, collective financing instrument that, in theory, would allow entry to anyone deemed eligible.

As I said before, I am not going to be the one to say this isn't of value to pursue. However, I do caution against being caught up in the hype of such an organization and the value it brings. It's good to have, but oftentimes with these kinds of organizations or similar funds, we get overly excited about what can and will be done.

​Certainly, it helps us for it to be Canadian-based, and it does present opportunities. However, it is always best to remember how hyped SAFE was as well—until people got a glimpse at what it actually was and what we would actually get out of it.

To me, Toronto represents the most comprehensive location, being the financial capital of Canada, the anchor for a significant amount of Canada’s defence industry, and perfectly positioned along the Quebec-Windsor Corridor.

​Ottawa would be second, based solely on its location and status as the capital. Nothing more. That’s my thought, at least. Montreal still provides a similar, viable option, but it's my personal third if I'm ranking them.

​So, good luck to Vancouver. I appreciate you trying.