Canada welcomes progress towards the establishment of the Defence, Security and Resilience Bank and hosting its headquarters
Press Release + Noah Note
April 29, 2026 – Montréal, Québec - Department of Finance Canada
In an increasingly uncertain and divided world, Canada is stepping up to lead with allies and partners the establishment of the Defence, Security and Resilience Bank (DSRB).
Multilateral negotiations in Montréal on the DSRB’s Charter have concluded, an important first step to set up the new institution. The DSRB will provide long-term, low-cost financing for defence, security, and resilience initiatives across supply chains, helping small- and medium-sized enterprises and member governments to address critical financing gaps.
Together, we have recognized the urgency of crafting a new multilateral institution that will leverage shared resources to support more growth for our industries than can be achieved individually. This will support member nations to be ready and able to meet today’s defence challenges with speed and resilience.
Participating countries unanimously supported that, once ratified, Canada, which hosted the negotiations, will serve as host country for the DSRB’s future headquarters. The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, along with the Honourable David McGuinty, Minister of National Defence, and the Honourable Anita Anand, Minister of Foreign Affairs, appreciated this decision and recognize that much work remains ahead to establish the DSRB. They reaffirm Canada’s commitment to work together with partners on the next critical phase to make the shared vision a reality.
Canada has a strong foundation in finance, defence, aerospace, and advanced manufacturing, alongside a dynamic innovation ecosystem enhanced by the measures outlined in the Government’s recent Defence Industrial Strategy, and we are well positioned to support collaboration across borders and industries.
Budget 2025’s historic defence plan—including more than $80 billion in investments—alongside Canada’s newly unveiled Defence Industrial Strategy, underscore 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.
Quotes
“We are very pleased with the progress made during recent negotiations in Montréal to establish the Defence, Security, and Resilience Bank. These negotiations are a crucial step in taking the DSRB from idea to reality and launching this new defence-focused multilateral bank. The time to act is now, and I look forward to continuing working with our partners to establish and launch the DSRB.”
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
“Canada is taking decisive action to strengthen our collective defence and security alongside our partners. We welcome the constructive discussions in Montréal, which represent a meaningful step toward establishing the Defence, Security and Resilience Bank. This initiative will enable faster, more targeted investments, strengthen critical capacity, and “support a more resilient and responsive defence industrial base —for Canada and our Allies.”
The Honourable David McGuinty, Minister of National Defence
"Canada is working with allies and partners to establish the Defence, Security, and Resilience Bank—an ambitious initiative to mobilize private capital at scale, deliver long-term, low-cost financing, and accelerate defence production. The DSRB will support Member nation defence industries and close financing gaps across supply chains to ensure we are ready to defend our territory, our people, and our values."
The Honourable Anita Anand, Minister of Foreign Affairs
Quick facts
Isabelle Hudon, President and Chief Executive Officer of the Business Development Bank of Canada (BDC), is Canada’s lead negotiator for establishing the DSRB.
Canada achieved NATO’s 2 per cent of GDP spending target this fiscal year —and is on a pathway to meet NATO’s Defence Investment Pledge of spending 5 per cent of GDP on defence by 2035.
On February 2, 2026, the Minister of National Defence and the Minister of Finance and National Revenue met with Canada’s leading financial institutions for a defence financing roundtable and indicated that the government is publicly backing the DSRB initiative.
On February 17, 2026, the Prime Minister launched Canada’s Defence Industrial Strategy, which outlines how Canada will enable its defence industry to provide technological and operational advantage to the Canadian Armed Forces by renewing our relationship with industry, transforming procurement through the new “Build-Partner-Buy” framework, investing in Canadian innovation and commercialisation, securing supply chains and working with key domestic and international partners.
Noah Note: Nothing much different than yesterday, but wanted to post the official presser.