Montreal wants to host a NATO bank dedicated to military projects

Montreal is making a pitch to be a new defence, security and resilience bank that would facilitate defence projects for a number of NATO projects.

Montreal wants to host the headquarters of a bank that aims to facilitate the financing of defence-related projects in member countries of the North Atlantic Treaty Organization (NATO).

The city would be “the one and only Canadian city that meets all the winning conditions” to host the future Defence, Security and Resilience Bank (DSR Bank), argued Stéphane Paquet, CEO of Montréal International, in a news release on Tuesday, as part of the unveiling of the city’s bid.

In its bid, Montréal International highlights that the city is home to nearly 70 international organizations, including six UN offices and the NATO Climate Change and Security Centre of Excellence.

The city’s expertise in aerospace, finance, defence, and technology is also a selling point.

The project has received the support of Premier François Legault, Mayor Soraya Martinez Ferrada, and Minister of International Relations Christopher Skeete. The two candidates for the leadership of the Coalition Avenir Québec (CAQ), Bernard Drainville and Christine Fréchette, also support the bid.

In Canada, Ontario Premier Doug Ford said in December that he supported Toronto’s bid. Other Canadian cities may also put forward their cases.

The federal government has mandated Isabelle Hudon, CEO of the Business Development Bank of Canada, to represent Canada in its efforts.

- This report by The Canadian Press was first published in French on Feb. 3, 2026.