Joint defense, banks selected - New institution will enable weapons production and infrastructure
The Defense, Security and Resilience Bank (DSR Bank), the multilateral institution designed to mobilize investments in the arms sector among European countries and NATO, has selected the first core of banks that will accompany its activity. Among the first institutions to accept the challenge are Commerzbank, ING Group, JPMorgan Chase, Landesbank Baden-Württemberg and RBC Capital Markets, with the task of supporting the new bank's capital markets activities.
With an initial capital of £20 billion, the project is backed by European countries, the United Kingdom, Norway, as well as Canada, Australia and Japan. The plan received new impetus after a resolution passed by the European Parliament calling for its creation, as well as support from British Chancellor Rachel Reeves for the establishment of the Bank that will help NATO and allied countries meet the 5% of GDP target for defense.
Europe and its allies need to quickly rebuild defense capacity, which means increasing arms production, securing supply chains, and investing in infrastructure. Coordinating investments aims to overcome the fragmentation of national supplies and avoid rising costs.
With governments facing tight fiscal constraints, defense spending must avoid an inevitable burden on public finances. DSR Bank will operate through the issuance of AAA-rated bonds, guaranteed by shareholder countries, providing affordable sources of long-term financing at the lowest possible rates. The institution will also support the defense supply chain, ensuring commercial banks have the risk management to ensure liquidity and credit flows, so that companies can build and expand production capacity.
The banks included in this group will provide contributions to sovereign debt instruments, capital structuring and will involve investors to access debt capital markets. This will give DSR Bank the opportunity to attract and mobilize private capital.
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