Türkiye delays participation in NATO-backed defence bank initiative

Türkiye will not participate, for the time being, in the planned Defence, Security, and Resilience Bank (DSRB), a new financial institution proposed by a group of NATO member states during the alliance's summit in Ankara on July 7–8.

The decision followed strategic and technical assessments carried out by relevant Turkish government agencies, Turkish media reports. 

Turkish authorities have not publicly commented on the reported decision.

Earlier reports had indicated that Türkiye, along with Albania, Belgium, Greece, Canada, Latvia, Luxembourg, Romania, and Ukraine, intended to participate in establishing the DSRB.

The proposed financial institution is expected to be headquartered in Montreal, Canada, and aims to raise up to $134 billion to finance defense-related projects connected to Ukraine.

By Sabina Mammadli