October 29, 2026
We, the Governments of Albania, Belgium, Canada, Greece, Latvia, Luxembourg, Romania, Türkiye and Ukraine, reaffirming our shared intent as expressed in the Ankara Declaration of 7 July 2026 to establish the Defence, Security and Resilience Bank (DSRB), will convene in Luxembourg on 30 November 2026 to sign the DSRB’s founding Articles of Agreement that were negotiated in Montréal in April 2026.
This milestone will translate our shared ambition into a concrete commitment to its establishment. The DSRB will complement existing national and multilateral initiatives by addressing financing gaps faced by governments and defence companies and expanding access to capital in the defence sector. In doing so, this new multilateral financing institution will contribute directly to strengthening our collective defence, security and resilience capabilities, while boosting innovation and economic growth.
Our goal is to establish the DSRB and enable the institution to secure a AAA credit rating, underpinned by the strength of our collective support and adherence to sound banking principles. Following the signature of the Articles of Agreement, we will move forward diligently with the steps necessary to establish the DSRB and enable it to begin operations in 2027.
Membership in the DSRB will remain open to other allies and close partners who share our objectives, and we look forward to welcoming new members.
Noah Note: A pretty bog-standard statement. Not much to say here other than that the road now is to establishing the DSRB as a functional entity, that includes November but also being commited to a plan afterwards. Also includes picking a host city, which please, for the love of god, get it over and done with.