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<\/p>\nT\u00fcrkiye \u200bhas informed Canada that it will participate in the \u2060Defense Security and \u2060Resilience Bank (DSRB) as a founding member, a report said on Monday<\/p>\n
Canadian Prime Minister Mark Carney said at a NATO summit in Ankara last week that nine countries, including T\u00fcrkiye, had committed to the bank, in what was seen as \u2060a \u2060boost for the multilateral drive to help rearm allied nations.<\/p>\n
Defense \u200bMinistry sources \u2060said over the weekend that T\u00fcrkiye was still evaluating possible participation.<\/p>\n
“T\u00fcrkiye has informed Canada that it will participate in the bank,” a Turkish official told \u200bReuters on Monday.<\/p>\n
According to Carney’s statement last week, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, T\u00fcrkiye and Ukraine had all pledged their support to the bank, which will be based in \u200bCanada.<\/p>\n
The roster contained no heavyweight G-7 \u200bnations other than Canada, potentially limiting the bank’s financial firepower, although \u2060Canada’s foreign minister, Anita Anand, told \u2060Reuters it would remain \u200copen to new members.<\/p>\n
The bank’s purpose \u200bis to bolster \u2060the defense of like-minded allied \u2060nations by raising up to 100 billion pounds ($134 \u2060billion) \u200bin cheap financing.<\/p>\n
Carney is promoting the DSRB as part of his call this year for an \u2060alliance of “middle powers” to combat what he sees as the fracturing of the traditional U.S.-led world order.<\/p>\n
A group of former NATO security \u200cadvisers, senior ex-military personnel and bankers proposed the bank in 2024.<\/p>\n
NATO nations and their allies are grappling with rising defense demands linked to the war in Ukraine, growing tensions with Russia and concerns about \u200bChina’s military expansion.<\/p>\n
NATO leaders agreed in June 2025 to \u2060spend 5% of GDP on defense and security-related investments by 2035.<\/p>\n
Top banks, including JPMorgan, Deutsche Bank, Commerzbank and ING, have \u2060joined the project alongside Canada’s RBC, \u200bBMO, CIBC, National Bank of Canada, Scotiabank and TD Bank.<\/p>\n
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