Canada is trying to get a big new project off the ground. They want to create a special bank just for defense spending. The goal is to raise about $116 billion (that is around 100 billion euros).

This money would be used to help allied countries buy more weapons and military gear. The idea is to make it easier for these countries to beef up their armies and keep their defense systems strong.

However, things aren't going perfectly for the plan. While Canada is all-in, many of their most important allies are still sitting on the sidelines. These countries haven't signed on to help yet.

There are a few reasons why. Some people are worried about whether a bank like this could actually get a good credit rating. A credit rating is basically a score that tells people if a bank is safe to lend money to. If the score is low, it’s much harder to get the money needed to start the bank.

Because of these doubts, the bank doesn't have the full support of the G7 yet. The G7 is a group of the world's most powerful economies, and without them, the project is facing a tough climb.

For now, Canada is continuing to push the idea forward, hoping to convince others that this bank is necessary to keep everyone safe and rearmed.

Source: Reuters