A News Agency

Canadian Prime Minister Mark Carney announced that Canada is leading the establishment of a new international financial institution called the Defence, Security and Resilience Bank.

Carney said the bank would be a "game-changing" institution that would enable private-sector capital to be mobilized more rapidly to finance countries' collective defence and security investments while ensuring those resources are used more effectively.

Carney also stated that, during today's NATO Summit, eight additional allied and partner countries confirmed that they would join the initiative, noting that the establishment of the new bank would move forward with this support.