Nine nations back Canada-led defence bank targeting £100 billion in financing
JPMorgan, Deutsche Bank, Commerzbank and ING have signed on alongside RBC, BMO, CIBC, National Bank of Canada, Scotiabank and TD Bank, per Reuters.
The nine participating nations said in a joint statement the bank “is designed to expand access to capital, reduce financing costs, and support expansion of industrial capacity across member countries.”
Even so, Canada signalled the founding roster is not final.
Foreign Minister Anita Anand said Ottawa wants more countries on board before it formally announces a slate of founding nations.
“We want more and more countries to come on board before we put something out,” Anand told Reuters in an interview on the summit sidelines.
