New Defense Bank Plans to Unlock Funds for European Rearmament

A new Europe-wide multilateral development bank is in talks with the US and other governments to push for a massive security spending boost, according to a former NATO official spearheading the initiative.

The US is “very much open” to supporting the initiative, Rob Murray, founder of the Defense, Security and Resilience Bank, told Bloomberg Television on Monday. “The United States is where significant levels of industrial defense production capacity exists,” he said.

US involvement is critical to the bank’s success in funding European rearmament, which would itself represent an economic boon to American activity, said Murray, the former head of ...