- Bank would aim to raise up to 100 billion pounds in cheap financing for defence projects
- Canada invites partner countries to ratify the plans for a 2027 launch
- DSRB plans loan guarantees for private banks supporting defence firms
Nine countries have committed to a new global defence bank, Canadian Prime Minister Mark Carney said on Tuesday, in a boost for the multilateral drive to help rearm allied nations.
Carney said in a statement at the NATO summit in Turkey’s capital Ankara that Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine had all pledged their support to the Defence, Security and Resilience Bank (DSRB), which will be based in Canada.
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The roster contained no heavyweight G7 nations other than Canada, potentially limiting the bank’s financial firepower, although Canada’s foreign minister, Anita Anand, told Reuters it would remain open to new members.
“This is a beginning, but they may have been hoping for the backing of bigger European players. In principle they can get this airborne with these commitments,” said Linus Terhorst, an analyst at defence think tank Royal United Services Institute.
The bank’s purpose is to bolster the defence of like-minded allied nations by raising up to $134 billion in cheap financing.
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I hate to say it but canadas proximity to the us is problematic. I feel the swiss would be the natural place to have something like this although they might not like to given it might put a target on them.
I think it’s more so about deploy ability. Canada has domestic ports in 3 oceans and the 2nd largest arctic shoreline.
https://upload.wikimedia.org/wikipedia/commons/3/31/Arctic_circle.svg
Logistically speaking we’re the clear choice for a global defense bank/force.
Pounds as in Pounds Stirling?
The bank’s purpose is to bolster the defence of like-minded allied nations by raising up to $134 billion in cheap financing.
Given Canada’s current slavery and genocide problem I’m not sure many nations will want to be tied to that as “Like-minded”
Right side of history wrong side of reality bro
UN source on Canada slavery https://www.ohchr.org/en/press-releases/2023/09/canada-anchor-fight-against-contemporary-forms-slavery-human-rights-un
Permanent Peoples’ Tribunal source on genocide https://www.cbc.ca/news/canada/montreal/permanent-peoples-tribunal-interim-statement-9.7217256
I’m not sure many nations will want to be tied to that as “Like-minded”
This is the part you got wrong dude.
I’m not denying Canada’s crimes.
Countries like to deny it.
Canada likes to pretend it’s innocent and will stand up for small countries but you see our inaction with Ukraine, Lebanon, Cuba, Venezuela, and Iran.
It’s the optics that look bad, not the lack of deserving it.
Sure but like you’re so hellbent on making this, honestly redundant, argument that you’re losing grip on reality or at the very least your ability to appear cognizant of it.
The man has a point. In the grand scheme of things we’re pretty mild by most countries standards. No one here is going to deny the truth, we are in fact responsible for some terrible things (functional slavery, cultural genocide, etc.), but I think you’re going to be pretty disappointed with how many people in other places give a damn. If Israel had showed the mildest shred of contrition for Gaza, and hadn’t doubled down in Lebanon, they’d already be back in the global good graces. Scratch the surface on most countries and you’ll find civilization is a pretty thin veneer on a litany of atrocities. Again, I’m not defending it, but compared to Germany, China, France, India, China, or any other developed country, our hands are probably the least dirty.
