Canada Backs Global Defence Bank

Canadian Prime Minister Mark Carney has endorsed a new €100 billion global defence bank to help allies rearm. However, major G7 economies have yet to commit ahead of an autumn charter signing.

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FILE PHOTO: Canada's Prime Minister Mark Carney announces new measures to strengthen Canada's defence capabilities in London, Ontario, Canada, July 16, 2026.  REUTERS/Carlos Osorio/File Photo

Canada is pushing to raise €100 billion ($116 billion) for a new global defence bank to fund military rearmament, though major European economies have yet to commit.

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