Türkiye has informed Canada that it will participate in the Defense Security and Resilience Bank (DSRB) as a founding member, a report said on Monday
Canadian Prime Minister Mark Carney said at a NATO summit in Ankara last week that nine countries, including Türkiye, had committed to the bank, in what was seen as a boost for the multilateral drive to help rearm allied nations.
Defense Ministry sources said over the weekend that Türkiye was still evaluating possible participation.
"Türkiye has informed Canada that it will participate in the bank," a Turkish official told Reuters on Monday.
According to Carney's statement last week, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Türkiye and Ukraine had all pledged their support to the bank, which will be based in Canada.
The roster contained no heavyweight G-7 nations other than Canada, potentially limiting the bank's financial firepower, although Canada's foreign minister, Anita Anand, told Reuters it would remain open to new members.
The bank's purpose is to bolster the defense of like-minded allied nations by raising up to 100 billion pounds ($134 billion) in cheap financing.
Carney is promoting the DSRB as part of his call this year for an alliance of "middle powers" to combat what he sees as the fracturing of the traditional U.S.-led world order.
A group of former NATO security advisers, senior ex-military personnel and bankers proposed the bank in 2024.
NATO nations and their allies are grappling with rising defense demands linked to the war in Ukraine, growing tensions with Russia and concerns about China's military expansion.
NATO leaders agreed in June 2025 to spend 5% of GDP on defense and security-related investments by 2035.
Top banks, including JPMorgan, Deutsche Bank, Commerzbank and ING, have joined the project alongside Canada's RBC, BMO, CIBC, National Bank of Canada, Scotiabank and TD Bank.
