# New Zealand rejects multi-billion dollar defence bank

> New Zealand declines Canada's offer to join a multi-billion dollar defence bank.
- Title: New Zealand rejects multi-billion dollar defence bank · RNZ
- Summary: New Zealand declines Canada's offer to join a multi-billion dollar defence bank. New Zealand turned down Canada's invitation to join the Defence, Security…
- Keywords: new zealand, defence bank, canada, defence capability plan, mfa, dsrb, nato, politics, news, Zealand, rejects, multi-billion
- Source: RNZ — https://rnz.co.nz/news/political/1743288/new-zealand-walks-away-from-multi-billion-dollar-defence-bank
- Author: RNZ | Te Reo Irirangi o Aotearoa
- Published: 2026-10-05T02:20:28+00:00
- Read time: 1 min
- Topics: new zealand, defence bank, canada, defence capability plan, mfa, dsrb, nato, politics, news
## New Zealand's decision
New Zealand has turned down an offer to join a multi-billion dollar bank that would finance defence industries in member states such as Ukraine.
## Initial contribution
According to advice, New Zealand's initial contribution would have been NZ$100 million with costs expected to rise.
## Reason for refusal
MFAT officials advised that New Zealand's defence capacity would be better served by improving market opportunities than joining the bank.
## Bank details
The Defence, Security and Resilience Bank aims to be operational by early 2027 with a capitalisation goal of €100 billion.
## Current members
Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Türkiye, and Ukraine have committed to joining the DSRB at a NATO summit.
## Future options
New Zealand will continue to monitor developments, leaving the door open for future membership in the bank.
## Key takeaway

New Zealand turned down Canada's invitation to join the Defence, Security and Resilience Bank, citing better market opportunities for defence industries.