Canada is preparing to announce a group of approximately 10 founding nations for a proposed global defence bank at the NATO summit in Turkey next week, according to the lead Canadian negotiator.
The initiative represents a significant step in formalizing the institutional structure of the new financial vehicle, with Ottawa seeking to broaden the coalition beyond its initial European partners.
The development follows Prime Minister Mark Carney’s earlier announcement that Canada will serve as the headquarters for the multilateral defence bank, while Luxembourg has been designated as its European base.
By targeting a diverse group of founding members, the Canadian government aims to demonstrate broad international support for the project ahead of the high-level diplomatic gathering.
As the only non-European nation expected to back the initiative at this stage, Canada’s role is pivotal in bridging transatlantic defence financing.
The move signals a deepening commitment to shared security infrastructure and could influence how allied nations coordinate capital for future defence procurement and modernization efforts.