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2026-07-14 13:20:11
[Turkey Plans to Join Canada-Led Defense Bank] A Turkish official stated on the 13th that Turkey has informed Canada of its intention to join as a founding member of a multilateral defense financing bank led by Canada. Canadian Prime Minister Carney issued a statement on the 7th during the NATO summit in Ankara, Turkey, saying that Canada, Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine intend to jointly create a "Defense, Security and Resilience Bank." The statement said that the parties will work together to establish the bank, which is expected to be operational as early as 2027. However, as of the 11th, a source from the Turkish Ministry of Defense stated that Turkey is "assessing" whether to formally participate in the plan. The proposed multilateral bank, headquartered in Canada, aims to expand defense financing channels and reduce financing costs to fund member countries in expanding their defense industry capacity. The relevant plans still require approval from all participating countries before confirmation. (Xinhua)
