A group of leading financial institutions, including ING, JP Morgan Chase, and Commerzbank, are supporting the launch of the Defence, Security and Resilience Bank (DSRB) — a proposed European initiative aimed at boosting military financing. The goal is to raise £100 billion (€114 billion) to fund defence projects across Europe, according to the bank’s CEO.

DSRB will operate as a non-profit lender and plans to issue AAA-rated bonds. It also intends to provide guarantees to commercial banks, making it easier for defence suppliers to obtain credit. ING confirmed its involvement in both financial and technological support.

Among the potential beneficiaries of the DSRB is an international programme between the United Kingdom, Italy, and Japan to develop a new generation of fighter jets by 2035. The bank could provide stable, long-term financing for such efforts, bypassing the limitations of national defence budgets.

The CEO of the DSRB explained that the bank aims to strengthen Europe’s deterrence posture — particularly in response to Russia’s actions in Europe and China’s presence in the Indo-Pacific. ING underlined that Europe must adopt new financial tools to address today’s security challenges.

Other participating institutions include Landesbank Baden-Württemberg and the Royal Bank of Canada.