Declaration on the Defence, Security and Resilience Bank

CANADA, July 7 - “We, the leaders of Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Türkiye and Ukraine, meeting at the NATO Summit in Ankara, today announce our shared intention to establish the Defence, Security and Resilience Bank (DSRB).

At a time when Allies are increasing defence investment, expanding industrial capacity and accelerating production of critical capabilities, we recognise the need to mobilise public and private capital at scale to support our defence, security and resilience priorities.

We affirm our shared commitment to work together towards the establishment of the DSRB. The successful negotiation in Montréal of the DSRB’s founding Articles of Agreement provides the required foundation to advance this effort together.

By leveraging a strong credit foundation, the DSRB is designed to expand access to capital, reduce financing costs, and support expansion of industrial capacity across member countries. We emphasize that the DSRB is intended to complement, not duplicate, other national and multilateral instruments that seek to increase defence production.

We commit to providing the leadership required to advance the creation of the DSRB with the urgency demanded by the current geopolitical context, to enable the Bank to commence operations as early as 2027.”