The government said Tuesday it intends to issue a “resilience bond” to fund defence projects if the Defence, Security and Resilience Bank (DSRB) is located in the province. It described the bond initiative as the first of its kind in Canada. (The Logic)

Talking point: Ottawa is also bidding to host the bank, though the province’s press release framed the bond proposal as an expression of support for Toronto’s bid. Ontario would issue the bond through its Sustainable Bond Framework, initially introduced to support projects with both green and social objectives. The province also said it would deploy its $4 billion Protect Ontario Account Investment Fund to attract capital to Canada and Ontario’s defence sector, while helping the DSRB find both an interim and permanent headquarters. The competition to host the bank has intensified since participating countries chose Canada as host. The other contenders are Montreal—where the initial DSRB negotiations took place—and Vancouver. The federal government has yet to outline how the selection process will work.