UK holds talks with Canada over joining new global defence bank

Britain is considering an invitation to join a new multilateral defence bank to help finance military and security projects at lower borrowing costs.

Justin Tomlinson

Editor-in-Chief, Mora Discover

2 sources
UK holds talks with Canada over joining new global defence bank

Britain has been formally invited to become a founding member of a new multilateral lending institution known as the defence, security and resilience bank (DSRB). John Healey is currently in talks with the Canadian government concerning the United Kingdom joining the proposed global defence bank, which is intended to help international allies rearm in response to mounting security threats.[1][2]

The engagement comes just weeks after Chancellor Rachel Reeves initially rejected the proposal. The UK is now understood to be actively considering a bid to join the Canada-led initiative ahead of scheduled discussions between British officials and their Canadian counterparts this week.[1][2]

Supporters and proponents of the multilateral lender highlight that the institution would provide key financial benefits for participating states. Backers say the bank would enable member governments to secure cheaper loans, helping the UK and its allies fund major defence and security projects at lower cost.[1][2]

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