Province backs private bid to bring NATO bank to Vancouver

British Columbia says it will support a private sector bid to bring the Defence, Security and Resilience Bank to Vancouver; the host country is expected to be announced by the end of March.

British Columbia's government says it will support a private sector effort to bring the Defence, Security and Resilience Bank (DSRB) to Vancouver. The DSRB is described as a multilateral institution that would finance defence, security and resilience projects for NATO members and allied nations. Canada is one of several countries under consideration, and Toronto, Montreal and Ottawa have also submitted bids. The Vancouver bid is led by the Pacific Security Bank Bid Committee, a 21-person group that includes politicians, First Nation leaders and business, trade and tourism representatives. Key facts: - B.C. Premier David Eby announced provincial support for a private sector bid to host the Defence, Security and Resilience Bank (DSRB) in Vancouver. - The DSRB is described as a multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations. - Canada is among countries being considered; Toronto, Montreal and Ottawa have also put forward bids. - The Pacific Security Bank Bid Committee is leading Vancouver’s bid and includes 21 members from political, First Nation, business, trade and tourism sectors. - Officials estimate securing the bank could create about 3,500 jobs in defence finance, international operations and specialized research and analysis. Summary: Officials say securing the bank could bring jobs in defence finance and related fields to the region. The host country for the bank is to be announced by the end of March, and the chosen city will be revealed by the end of the year.