The Department of Finance said on Wednesday that participating countries unanimously supported Canada as host of the Defence, Security and Resilience Bank (DSRB), pending ratification—reflecting its role as the initiative’s only vocal backer. The endorsement follows initial negotiations last month in Montreal, where 18 nations began drafting the bank’s governance and operations. (The Logic)

Talking point: The DSRB would provide low-cost loans, credit guarantees and financing for military procurement to NATO countries and allies. Besides Canada, Luxembourg has agreed to participate, while Germany and Britain remain out and France has yet to commit. The bank’s executives, Marcus Fedder and Robbie Boyd, along with BDC president Isabelle Hudon—Canada’s lead negotiator for the bank—declined to comment, referring inquiries to spokesperson David Oliver, who did not respond. Kevin Reed, the bank’s president and COO, also did not respond to a request for comment. Vancouver, Montreal, Toronto and Ottawa have all submitted bids to host the headquarters. When asked whether a host city had been selected, spokesperson Louis-Julien Dufresne for Montreal mayor’s office did not confirm but said the city is “ready to welcome it,” while spokespeople for the Ontario and British Columbia governments did not respond.