Vancouver is joining Toronto, Montreal and Ottawa in making a bid to host the new NATO Defence, Security and Resilience Bank.
The newly created bank is being set up to help NATO members and allied nations finance defence projects. Whichever city is chosen to host the bank will benefit from 3,500 new high-paying jobs.
It is not yet decided which country the bank will be located in. A decision on the country is expected by the end of March, with the city within that country determined by the end of the year.
Premier David Eby said Canada is a leading candidate, and he laid out the case for B.C.: that it has the connections to Pacific allies, skilled workers, an amenable climate and the large port and airport infrastructure needed.
“British Columbia and Vancouver are uniquely placed to be able to help this bank fulfill its mandate,” he said.
While questions arose at the bid’s announcement about Vancouver’s chances in relation to cities such as Toronto and Montreal, Eby and Ravi Kahlon, B.C. jobs minister, said Vancouver is unique in that it allows for easy access for both NATO allies from Europe and those from Asian countries.
The bid was produced by a committee that consists of leaders from a variety of business-oriented organizations and firms, including, among others, the Greater Vancouver Board of Trade, the Business Council of B.C. and Seaspan.