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The Defence Investment Agency’s CEO, Doug Guzman, will evaluate proposals to host the Defence, Security and Resilience Bank (DSRB) and send a shortlist to Prime Minister Mark Carney and Finance Minister François-Philippe Champagne, said the call for proposals. The government wants the host city to have a substantial finance sector, defence firms and universities. It estimates the DSRB will start with about 50 employees and expand to about 700 over 10 years. (The Logic)
Talking point: The DSRB is intended to be an international financial institution that helps finance purchases of military equipment and supports defence startups. Of its founding members, Canada has the biggest economy and will host the head office, with a European branch in Luxembourg. Vancouver, Toronto, Ottawa and Montreal have all openly sought to have the headquarters; they and other cities can offer themselves up officially by a Dec. 3 deadline.
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