Carney announces defence coalition bank
The prime minister did not mention which other countries would be involved, but Britain and Germany have both confirmed that they will not be participating.
Prime Minister Mark Carney announced plans to create the Defence Resilience and Security Bank, which would potentially fund the rearmament of nations facing heightened geopolitical risks.
“Effectively, about 20 countries have come together, there’s a possibility of more being added over time to set up a new financial institution,” Carney told reporters on Thursday. “The core of what it would do is to finance the private sector in helping to build out, in Canada and in other countries…to build out our defence capacity.”
