THE Province of British Columbia is supporting a private-sector-led proposal to the Government of Canada to put forward Vancouver as the preferred home for the new international headquarters of the Defence, Security and Resilience Bank (DSRB).
“Vancouver is the perfect place to establish the headquarters of this new bank,” said Premier David Eby on Monday. “B.C. has what the world needs, as well as major ports and strong relationships with NATO nations and allied partners. As the economic engine of the new Canadian economy, we are ready to seize the economic and strategic advantages in hosting a global institution of this scale.”
The DSRB is a newly created multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations. As countries around the world increase investments to secure borders and meet their geopolitical commitments, the DSRB is intended to help address financing challenges facing governments and industry. Canada is among the leading contenders to host the headquarters. Once fully established, the bank is expected to include up to 40 member countries and play a central role in supporting global security.
Locating the DSRB headquarters in Vancouver would generate significant long-term economic benefits. Early estimates indicate the headquarters could create approximately 3,500 high-paying jobs in defence finance, international operations and specialized research and analysis.
Vancouver would also host regular international meetings of member nations, bringing delegations, investment opportunities and global visibility to B.C.
“British Columbians understand that our national security and defence capabilities matter now more than ever,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Hosting the DSRB headquarters in B.C. aligns with our Look West plan and is an important step that allows our province to expand Canada’s defence capacity, while anchoring investments that will create opportunities for people and communities across B.C. and Canada. This positions us to play an essential role in Canada’s security, while building a stronger economy for British Columbians.”
Vancouver offers a unique combination of strengths that align with DSRB’s needs, including:
* strategic global position that connects NATO partners with key allies in the Indo-Pacific region, and features an active, robust consular corps from all allied nations
* capacity to host the DSRB using existing institutions, infrastructure and talent to minimize incremental federal costs
* anchoring B.C.’s defence-related industrial base across marine, aerospace and ocean technologies
* strengths in AI, quantum tech, aerospace, marine and cybersecurity with rapidly growing dual-use innovators, such as Photonic, AbCellera and Sanctuary AI
* being home to Canada’s largest and most-integrated port, and a world-class airport that provides direct access to almost all DSRB member countries
“Vancouver is the strategic choice for the Defence, Security, and Resilience Bank,” said Bridgitte Anderson, President and CEO, Greater Vancouver Board of Trade. “Our city offers a secure, world-class environment that naturally attracts global talent. With a deeply integrated international business community, Vancouver is ready to accelerate the bank’s operations and deliver immediate results for our collective security.”
Darlene Rotchford, parliamentary secretary for armed forces development and veterans affairs, said: “Securing this headquarters would strengthen Canada’s ability to support our allies and advance shared defence priorities. Vancouver offers the expertise, partnerships, and strategic location needed for an institution dedicated to military readiness and resilience. This bid reflects B.C.’s commitment to contributing meaningfully to national security and to the people who serve.”
Vancouver Mayor Ken Sim said: “Our city is in a strategic position unlike anywhere else in the country. We’re the only city in Canada that can conduct business across the Indo-Pacific, Europe, and Arctic time zones within a single business day, a critical advantage in a rapidly shifting global environment. Vancouver already has the secure space needed for the DSRB and the robust consular corps and private sector needed to support its ongoing operation. Put simply, Vancouver is the city with the readiness, strategic location, private-sector strength and secure, trusted access to world markets make the DSRB effective on day one.”
The Province says backing the DSRB bid aligns with its Look West strategy to create good jobs, attract investment and expand opportunities for people and businesses throughout the province. Hosting a major international financial institution would strengthen B.C.’s economic resilience and position the province as a leader in the rapidly evolving global security and resilience sector.
Quick Facts:
* The Vancouver bid is being led by the Pacific Security Bank Bid Committee, which includes prominent local business leaders.
* The DSRB is expected to be fully established by the end of 2026 and is anticipated to include up to 40 member countries
Learn More:
* Link to bid document: https://news.gov.bc.ca/files/
* Read the full Look West: Jobs and Prosperity for a Stronger BC and Canada strategy here: https://gov.bc.ca/LookWest
