Canada selected to headquarter new multinational defence bank, sources say

RCI

Montreal, Ottawa, Toronto and Vancouver have pitched themselves as possible host cities.

Canada has been selected to headquarter the multinational Defence, Security and Resilience Bank (DSRB), sources have told Radio-Canada.

The DSRB is a multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations.

Three sources familiar with the matter, but not authorized to speak publicly, told Radio-Canada that Canada was selected to host the new bank. The Globe and Mail first reported the news.

• Ottawa defence firms back bid to host multinational security bank (new window)

• Province throws support behind private sector bid to bring NATO bank to Vancouver (new window)

• Toronto wants to host new bank supporting Canada, allies’ military (new window)

It’s estimated that securing the bank could create 3,500 jobs in defence finance, international operations and specialized research and analysis.

Four cities — Montreal, Ottawa, Toronto and Vancouver — have put themselves forward as possible hosts for the DSRB. The federal government will decide where the headquarters will be located.

The bank’s services would include providing long-term credit and helping to streamline the process of multiple countries buying defence resources together.

CBC News With files from Daniel Thibault