Türkiye Confirms Founding Role in Canada-Led Defence Bank

By Tahani Elghazaly
Published July 13, 2026

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Türkiye has formally resolved uncertainty over its position on the Canada-led Defence, Security and Resilience Bank, with a Turkish official confirming that Ankara has notified Ottawa of its decision to join the proposed institution as a founding member.

The confirmation came two days after Turkish defence ministry sources said the country was still assessing possible participation, despite taking part in negotiations ahead of the initiative’s launch and signing the joint declaration issued during the NATO summit in Ankara.

The latest decision closes the gap between Türkiye’s initial political support for establishing the bank and a formal commitment to participate in its membership and founding structure.

Canadian Prime Minister Mark Carney announced at the NATO summit that Canada and eight partner countries supported the establishment of the Defence, Security and Resilience Bank: Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Türkiye and Ukraine. The institution’s global headquarters will be located in Canada.

The bank is intended to provide long-term, low-cost financing for defence, security and resilience projects, while helping governments and small and medium-sized companies overcome financing gaps across defence supply chains.

According to the joint declaration, the institution will complement rather than replace existing national and multilateral financing tools. Its mandate will include mobilizing private capital, lowering borrowing costs and supporting the expansion of defence industrial capacity across member countries.

The initiative aims to mobilize as much as £100 billion, or approximately US$134 billion, through lower-cost loans and financial guarantees for defence projects. The institution is expected to begin operating as early as 2027.

Türkiye’s participation is significant because of the size of its armed forces, its position within NATO and the rapid expansion of its domestic defence industry. Its founding membership gives the Canadian initiative additional political and industrial weight as organizers seek to attract more countries.

The project still faces challenges in broadening its membership. Canada remains the only G7 country among the publicly identified founders, while Britain, the Netherlands, Finland and Poland are advancing a separate Multilateral Defence Mechanism, although cooperation between the two initiatives is continuing.

Türkiye’s move from evaluating the initiative to formally joining it provides an early boost for Ottawa’s effort to turn rising defence-spending commitments into practical financing for production, procurement and resilient supply chains.