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Story summary
- The Defence, Security and Resilience Bank aims to mobilize up to £100 billion ($133 billion) of financing for allied defence projects.
- Canada will announce ten founding members at the NATO summit in Turkey, pledging a proportional €1.5 billion contribution.
- Britain has refused to join, preferring its own MDM financing project with the Netherlands and Finland, while major banks such as JPMorgan, Deutsche Bank, Commerzbank and ING have signed on to support the initiative.
