Canada’s Department of Finance has launched the process to select the Canadian city that will host the future global headquarters of the Defence, Security and Resilience Bank. The planned multilateral institution will mobilize public and private capital to expand defence production and strengthen supply chains, addressing financing gaps faced by governments and defence companies.
Canada was selected to host the headquarters through multilateral negotiations in spring 2026. Qualified Canadian municipalities must submit applications by December 3, 2026. Doug Guzman, chief executive officer of Canada’s Defence Investment Agency, will lead the process, review applications and submit a shortlist to the minister of finance and the prime minister for consideration.
The bank will seek a AAA credit rating, supported by financial backing from participating countries, to help lower financing costs, expand access to long-term financing and mobilize commercial investment. Canada and international partners will gather in Luxembourg on November 30 to sign its founding Articles of Agreement. The institution is expected to be fully operational in 2027.