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Canada boosts defence business funding to $6B and leads global bank talks.
The Business Development Bank of Canada is increasing funding for defence-sector businesses from $4 billion to $6 billion, citing strong demand and rising defence spending.
Since launching its Defence Platform last year, BDC has provided $91.7 million to 16 small- and medium-sized firms in cybersecurity, munitions, and dual-use technologies.
CEO Isabelle Hudon, a former ambassador to France, said the agency is shifting from a cautious to a more proactive stance, emphasizing long-term support and credibility.
BDC is also leading Canada’s role in international talks to create a Defence, Security and Resilience Bank, backed by Canada’s Big Six banks and NATO, to reduce borrowing costs for military projects.
Final decisions on participating nations and the bank’s location remain pending, though several Canadian cities are competing to host it.
Canadá aumenta el financiamiento de negocios de defensa a $ 6B y lidera las conversaciones bancarias globales.