UK Withdraws Support for Proposed Global Defence Bank
Britain has decided not to back the Defence, Security, and Resilience Bank (DSRB), a proposed multilateral defence initiative aimed at creating a global state-backed lender for rearming countries. Despite strong international interest, UK officials expressed concerns about the bank's alignment with the government's defence spending goals.
In a surprising move, Britain has announced that it will not support the Defence, Security and Resilience Bank (DSRB), a proposed multilateral initiative aimed at establishing a global state-backed lender to assist nations with defence funding.
The UK Treasury confirmed that the government will not participate in the DSRB, a decision that came ahead of a major meeting planned in London where 41 countries were invited to discuss the funding structure of the bank.
The initiative aims to raise 100 billion pounds for defence projects globally, particularly for nations lacking access to affordable finance. Despite not garnering UK support, the DSRB continues to draw interest from a variety of countries including all G7 nations, demonstrating a keen global interest in exploring new financial mechanisms for strengthening defence capabilities.
(With inputs from agencies.)
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