OTTAWA, Feb. 10 (Xinhua) -- Canada and Luxembourg agreed on Monday to strengthen collaboration on the newly proposed Defense, Security and Resilience Bank (DSR Bank).
The announcement followed a meeting between Canadian Prime Minister Mark Carney and his Luxembourg counterpart, Luc Frieden, who concluded a three-day official visit to Ottawa.
The leaders emphasized mobilising capital and strengthening defense supply chains in support of collective security, including in the Arctic.
According to a statement on the Canadian prime minister's website, the proposed DSR Bank aims to fill an important gap in the current financial landscape by offering multi-year low-cost financing for defense, security, and resilience initiatives.
The bank would allow the commercial sector to work more closely with the defense sector to support Canadian workers and businesses, said the statement.
Luxembourg, a major global financial hub and a NATO ally, is one of Canada's largest sources of foreign direct investment. During the visit, the two nations also launched the 2026 Canada-Luxembourg Financial Sector Policy Dialogue to advance collaboration on financial stability, sustainable finance, fintech innovation, and capital markets development. ■
