Eight countries have formally announced their support for a new multinational defence bank led by Canada, marking a significant step toward the institution's establishment.
The growing coalition brings the proposal closer to reality, though it still lacks the endorsement of major European powers such as Germany, Britain, and France.
The development comes as Canadian Prime Minister Mark Carney intensifies his diplomatic campaign to secure backing from world leaders.
According to reports from The Globe and Mail, Carney has been heavily promoting the institution in bilateral meetings, aiming to solidify a founding group before the upcoming NATO summit in Turkey next week.
The absence of key European allies remains a notable gap in the coalition.
While the eight-nation bloc provides a foundation, the lack of support from traditional defence spending leaders like Germany and France may impact the bank's initial capitalization and its ability to influence global defence procurement standards.