Montreal seeks to host NATO defence bank with Quebec leaders' backing

Quebec Premier François Legault, Montreal city officials and business leaders publicly backed Montreal's bid to host the proposed International Defence, Security and Resilience Bank and said the province would consider a financial contribution. The founding countries must first choose a host country before a city is selected, and Toronto and Vancouver are also competing within Canada.

Montreal has launched a bid to host the proposed International Defence, Security and Resilience Bank and provincial and municipal leaders gathered to promote the city's candidacy. Quebec Premier François Legault spoke in support and said the province would be ready to calculate a contribution based on economic benefits. City and business officials highlighted Montreal's existing aerospace and artificial intelligence sectors and its role as a host to many international organizations. Other Canadian cities, including Toronto and Vancouver, are also actively pursuing the headquarters. Key details: - The Defence, Security and Resilience Bank (DSRB) is proposed as a multilateral bank owned by nation-states to help allies finance defence, security and resilience capabilities. - Quebec Premier François Legault, Montreal Mayor Soraya Martinez Ferrada and business leaders including National Bank president Laurent Ferreira publicly backed Montreal's bid. - The Quebec government said it is prepared to calculate a financial contribution and called on federal ministers and other officials to support the candidacy. - Toronto and Vancouver are also competing inside Canada, and there are several international contenders for the bank's headquarters. - The bank is expected to generate an estimated 3,500 jobs, and the founding countries must first decide which country will host the bank before a city is chosen. Summary: The public endorsements aim to position Montreal as a diplomatic and economic hub with relevant industry strengths. The next formal step is for the founding countries to decide which country will host the bank; a city selection would follow after that.