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Joint statement from HM Treasury and Department of Finance Canada

HM Treasury·Oct 25, 2026 · 12:30 PM CT
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The UK Treasury and Canada's Department of Finance said they will develop two distinct but complementary defence-financing institutions rather than merge them: the Multilateral Defence Mechanism and the Defence, Security and Resilience Bank. The two governments said the institutions will work in close partnership on industrial priorities, investment and strategic financing to strengthen allied defence capabilities.

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