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British Columbia Premier David Eby says the province will support a private sector bid to bring the headquarters of the Defence, Security and Resilience Bank (DSRB) to Vancouver.
According to the government, the DSRB is a multilateral institution focused on financing defence, security and resilience projects for NATO (North Atlantic Treaty Organization) members and allied nations.
“We know that British Columbia represents a trustworthy jurisdiction that believes in the rule of law, that is stable now and into the future, and is leading in finance technologies that will be needed in the future,” said Eby.
Canada is one of several countries being considered to host the international bank that would serve about 40 countries. Toronto, Montreal and Ottawa are putting forward bids as well.
It’s estimated that securing the bank could create 3,500 jobs in defence finance, international operations and specialized research and analysis.
“British Columbians understand that our national security and defence capabilities matter more now than ever,” said Ravi Kahlon, B.C. minister of jobs and economic growth. “Supply chains matter, innovation matters, resiliency matters.”
Eby said Vancouver has an advantage in that it is well situated and central for NATO allies in Europe and Asia.
“Without question Vancouver is the right choice and the strategic choice,” said Eby.
The host country for the bank will be announced by the end of March, with the winning city revealed by the end of the year.
Vancouver’s bid is being led by the Pacific Security Bank Bid Committee, a group made up of 21 people including politicians and First Nation, business, trade and tourist sector leaders.
