British Columbia Premier David Eby announced the province’s support of a private-sector company’s bid to have a NATO bank headquarters in Vancouver on Monday.

The Defence, Security, and Resilience Bank aims to finance military projects for members of NATO and its allies and would create about 3,500 new jobs, Eby says.

Vancouver’s bid is being led by the Pacific Security Bank Bid Committee, which includes local business leaders.

Greater Vancouver Board of Trade CEO Bridgitte Anderson says the bank will not just be a financial institution, but a vital security instrument.

“Locating the bank in Vancouver would provide the institution with a strategic advantage, given that we serve as a tri-continental bridge, connecting the Indo-Pacific, Europe, and the Arctic Channel,” said Anderson, who also heads the bid committee for the bank.

Vancouver isn’t the only Canadian city with a bid to host the headquarters, with Toronto and Montreal putting forward proposals as well, but Eby says that if Canada wins the international hosting competition, Vancouver is the “obvious” choice. He says the “centre” of the country is no longer based in Eastern Canada, as the country looks to deepen relationships with countries other than the United States, including the fast-growing economies of Asia.

Eby says B.C. is the “economic engine” of the new Canadian economy, and the province is ready to host a global institution of this scale.

In addition, Eby says the province also intends to make a “generational investment” in trades training in the upcoming provincial budget, which will be tabled Feb. 17.

-With files from Wolfgang Depner, The Canadian Press.

Editor’s note: a previous version of the story stated Eby had announced the province’s bid to have a NATO bank HQ in Vancouver. In fact, the announcement related to the province’s support for a private-sector company’s bid.