JPMorgan, Commerzbank among first backers of new multilateral defence lender
Several major global banks, including JPMorgan Chase, ING, and Royal Bank of Canada’s investment arm, are backing the creation of the Defence, Security and Resilience Bank (DSR Bank), a new multilateral lender aimed at financing defence initiatives across NATO, the EU, and Indo-Pacific allies. Spearheaded by the DSRB Development Group, the bank will offer sovereign lending advice, capital structuring, and technical support to help mobilise private finance for defence and resilience projects. The initiative responds to growing security pressures, particularly in Europe following Russia’s invasion of Ukraine, and aligns with calls to increase defence spending. The DSR Bank plans to issue AAA-rated bonds to support defence production and is expected to become operational as early as next year, with further partners and stakeholders set to join soon.