# Britain still won't join Canada-led defense bank, Reuters reports
Canada and Britain agreed to develop separate, complementary institutions. Britain won't join the Canada-led bank, Reuters reports, citing a person familiar with the matter.
Published 2026-10-27 by TGOs. Canonical: https://tgos.io/news/2026/10/27/britain-still-wont-join-canada-led-defense-bank-reuters/
Britain will not join the Canada-led Defence, Security and Resilience Bank (DSRB), according to a person familiar with the matter, Defense News reported Oct. 27, carrying a Reuters story.[1] Britain had previously declined to join, citing concerns over value for money.[1]
The bank has been aiming to raise around €100 billion ($112 billion) to provide low-cost loans to governments and contractors for defense projects.[1]
In an Oct. 25 joint statement, Canada and Britain said they had agreed to develop two distinct but complementary institutions and a framework for cooperation between them.[2] Their joint statement does not say whether Britain will join the bank.[2]
A second person cited in the Reuters story said the governments could not agree on several issues, Defense News reported.[1] These included a joint institution's headquarters, joint procurement levels, lending to members and rules for new members.[1]
## Why it matters
Canadian Finance Minister Francois-Philippe Champagne said supporters would meet in Luxembourg on Nov. 30 to sign articles of agreement establishing the bank, Defense News reported, carrying a Reuters story.[1]
## Sources
1. Reuters, published by Defense News: Britain will not join Canada-led defense bank initiative
2. Department of Finance Canada: Joint statement from Canada and the United Kingdom