The UK is in talks about joining a proposed global defence bank led by Canada, in a move that could give governments access to lower-cost borrowing for defence projects.
Supporters of the scheme say the bank would provide cheaper loans to governments seeking to fund defence-related projects. The proposal is intended to support investment in the sector through an international financial institution.
The available details do not set out the terms of the UK’s discussions or indicate whether the country has decided to join. The bank’s leadership by Canada and its proposed global role are the key features identified so far.
The outcome of the talks will determine whether the UK becomes part of the proposed institution. Further details about its membership, financing arrangements and operation have not been provided.
