Ukraine to co-found defense bank aimed at financing weapons production

Ukraine and eight partner nations are set to establish a new international defense bank on November 30, aimed at financing military production. The Defense, Security and Resilience Bank (DSRB), led by Canada, is expected to begin operations in 2027, providing long-term funding for defense needs and supporting manufacturers. As the conflict with Russia continues, Ukraine seeks sustained financial support for its military. The bank will be headquartered in Canada, with a European hub in Luxembourg, and aims to attract around 100 billion euros in capital. Founding members include Albania, Belgium, Greece, Latvia, Luxembourg, Romania, and Turkey, with Ukraine confirmed as a founding member by President Zelensky.