The Canadian Imperial Bank of Commerce (CIBC) is committing C$2-billion over five years for small and medium-sized defence-related and dual-use businesses in Canada.
While the tightly regulated banking sector has typically shied away from lending to riskier small and medium-sized defence companies, that approach has been changing alongside the federal government’s efforts to diversify away from dependence on the U.S. Some of Canada’s biggest banks have been ramping up efforts to expand services to the burgeoning sector.
The businesses eligible for CIBC’s program range across sectors deemed critical to Canada’s economy, including infrastructure, energy, cybersecurity, digital capabilities, and advanced technologies.
Stefanie Marotta writing in the Globe & Mail: CIBC commits $2-billion to help finance defence-related companies
Les Affaires: La Banque CIBC annonce un engagement de 2 milliards de dollars pour contribuer au développement des entreprises canadiennes du secteur de la défense et à double usage