Ontario Launches Bid to Make Toronto Home to New Defence, Security and Resilience Bank
Why Ontario Defence Security Resilience Bank Headquarters Should Be in Toronto
TORONTO — Ontario has formally backed Toronto’s bid to become the headquarters of the newly created Defence, Security and Resilience Bank (DSRB)—a multilateral financing institution designed to support defence, security and resilience projects for NATO members and allied nations.
The province, joined by the City of Toronto, federal MPs, and leaders across the financial, tech, legal, defence and academic sectors, announced unified support for Toronto’s proposal, arguing that the city offers unmatched global financial expertise, talent, connectivity and stability required for the DSRB’s long-term success.
A Strategic Play to Secure a Global Institution
Provincial officials say establishing the bank in Toronto would create approximately 3,500 high-skilled direct jobs, along with thousands of secondary roles across finance, technology, advanced manufacturing, consulting and research.
“As the financial capital of the country and second largest financial centre in North America, Toronto and Ontario offer unparalleled access to markets, world-class workers and infrastructure,” Premier Doug Ford said in the announcement. “Headquartering the DSRB is a once-in-a-generation opportunity that would benefit every part of the country.”
The DSRB is modeled after the World Bank and designed to provide long-term credit, liquidity and procurement support to industries that supply defence and security capabilities. The institution will combine public and private capital, streamline multinational procurement, and strengthen supply chains at a time when global geopolitical tensions and defence demands are rising.
I was thrilled to be joined by a packed room of powerhouse leaders from across Ontario supporting Toronto as Canada’s choice to host the Defence, Security and Resilience Bank.
A successful bid for Toronto will create thousands of good-paying jobs across Ontario and Canada,… pic.twitter.com/4tg0pzTe9g
— Doug Ford (@fordnation) December 17, 2025
Why Toronto? Government Highlights an Unmatched Advantage
The province’s bid outlines four key reasons why Toronto is uniquely positioned to host the DSRB:
-
A global financial hub
Toronto is the second-largest financial centre in North America, home to all major Canadian banks—banks consistently ranked among the safest worldwide—as well as more than 40 foreign banks and major pension funds. -
A world-class, diverse workforce
Toronto leads Canada in finance, technology, research and STEM talent, supported by top-tier universities and colleges that produce highly skilled workers across advanced sectors. -
A deep defence and security innovation ecosystem
Southern Ontario is home to more than 900 defence-capable organizations. Toronto, Ottawa and London anchor Canada’s largest concentration of expertise in aerospace, AI, cybersecurity, quantum computing, robotics, geospatial systems and advanced manufacturing. -
Global connectivity
Toronto Pearson International Airport offers direct access to nearly 200 global destinations, enabling rapid travel to major allied markets and political centres. Toronto also hosts 107 consulates—second only to New York City in North America—supporting diplomatic engagement for a global institution.
Federal Spending Commitments Strengthen Rationale
The DSRB’s launch aligns with Canada’s pledge to increase defence spending to five per cent of GDP by 2035, a commitment that will require significant investment in equipment, technology and infrastructure. Ontario officials say hosting the bank would ensure that a larger share of economic benefits—jobs, contracts, and innovation—flows to Canadian workers and businesses.
“This is a transformational opportunity that sits at the intersection of Canada’s commitment to our NATO allies and our proven strength in global finance,” said Julie Dzerowicz, Chair of the Federal Toronto Liberal Caucus. “Toronto is home to all five of Canada’s major banks — including RBC, which is already a founding institutional partner of the DSRB — making our city uniquely positioned to anchor this historic new multilateral institution.”
A Major Step on the Global Stage
Toronto Mayor Olivia Chow said the opportunity represents a major step onto the global stage.
“This is an opportunity to bring the world to Toronto, create thousands of jobs and demonstrate Toronto’s leadership on the world stage,” Chow said. “We have all the right conditions to help a multilateral bank succeed.”
Source: Government of Ontario, Premier’s Office — News Release, December 17, 2025
Follow GTA Today on social media for more local news and updates. #GTAToday
