New Zealand refuses to join NATO defence bank
New Zealand has rejected an offer to join the Defence, Security and Resilience Bank (DSRB), an initiative of Canada for NATO defense needs. This is reported by local radio RNZ with reference to the New Zealand foreign Ministry.
New Zealand has rejected an offer to join the Defence, Security and Resilience Bank (DSRB), an initiative of Canada for NATO defense needs. This is reported by local radio RNZ with reference to the New Zealand foreign Ministry.
“Available evidence suggests that the defense industry will benefit more from measures that improve market opportunities than from the creation of a dedicated defense financing mechanism,” the ministry said.
According to the Ministry of Foreign Affairs, the initial contribution for New Zealand on joining the DSRB would be $56 million, and further costs could be even higher. New Zealand notified Canada of its decision in late August.
The idea to create a bank to serve the common defense needs of the allied countries appeared in 2024. The creation of the bank was supported by ten countries. DSRB plans to raise about $133 billion Based on the proportional allocation of contributions, Ottawa itself is expected to contribute up to $1.7 billion in the first phase, while smaller countries will contribute up to €500-750 million each.
Details - in the material "Kommersant" "Canada found who will lean on the defense.".
