Tech & Gadgets

CIBC commits $2 billion to financing smaller defence and dual-use businesses

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CIBC has committed $2 billion over five years to finance Canadian small and medium-sized businesses involved in the defense and dual-use technology sectors, including areas like cybersecurity and advanced technologies. This move signals a significant shift as these firms often struggle to secure funding and are crucial for Canada’s efforts to reduce reliance on foreign suppliers and build domestic capabilities. Following similar commitments from RBC and BMO, it suggests that Canadian banks are increasingly willing to invest in this strategically important area of the tech landscape.

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