Carney to visit No 10 in fresh push for 'world bank for defence'

Mark Carney is stepping up efforts to persuade Keir Starmer to join a world bank for defence, as the two leaders face pressure to show how they will hit spending targets.

- Catherine Neilan

The Canadian prime minister is believed to be planning a trip to Downing Street, having spent the past few days touring global capitals, including Delhi, Tokyo and Canberra, where defence has been high on the agenda.

It follows a visit to Parliament by a delegation from Canada last week. No 10 declined to comment.

Carney is leading the charge on creating the Defence, Security and Resilience (DSR) Bank, a multilateral, AAA-rated lender that would enable participating countries to borrow at relatively low rates to procure arms. He is expected to make an in-person plea to Starmer to join.

Sources told The Observer that invitations to join the bank’s charter negotiations - a process that will define its mandate - have been issued, with one being sent to No 10. Discussions are already under way about where the bank will be headquartered.