U.K. opts against joining Canada-led defence bank, pledges co-operation
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
OTTAWA – The British government has turned down Ottawa’s attempts to have it join the international Defence, Security and Resilience Bank, though London says it will work in lockstep with Canada to meet NATO spending targets.
The DSRB is meant to reduce borrowing costs for military spending by pooling credit strength among allies.
Canada has tried for months to convince the U.K. to join the project, but London has instead been pursuing its own program called the Multilateral Defence Mechanism.
Both countries agreed Sunday to craft a framework for cooperation between both banks, “having mutually concluded that it is best to develop two distinct but complementary institutions.”
The two will “work in close partnership” on investment opportunities and challenges, according to a joint media statement.
The DSRB will be based in Canada and has the support of countries such as Belgium, Turkey and Ukraine.
This report by The Canadian Press was first published Oct. 25, 2026.