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UK actively explores participation in NATO’s defense bank — newspaper

A senior Labour figure told The Financial Times that participation in the DSRB initiative could potentially help the UK reach a milestone of spending 3% of GDP on defense by 2030

LONDON, September 16. /TASS/. British authorities are seriously considering the possibility of joining the Canada-led Defense, Security and Resilience Bank (DSRB) initiative, which is being created to fund militarization efforts in NATO countries, The Financial Times reported.

"We are actively exploring it. We’re interested," a UK government figure said.

According to the newspaper, another senior Labour figure said that former British Prime Minister Keir Starmer’s administration had rejected the initiative, but under new Prime Minister Andy Burnham, the idea "has become very much live again." The person added that the proposal could potentially help the UK reach a milestone of spending 3% of GDP on defense by 2030.

According to earlier reports, Albania, Belgium, Canada, Greece, Latvia, Luxembourg, Romania, Turkey and Ukraine announced their readiness to establish the DSRB. The agency, which is supposed to be headquartered in Montreal, Canada, will seek to raise $134 billion to fund military projects.

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