NEW DELHI: The United States International Development Finance Corporation (DFC) has announced its decision to support efforts of Biological E, an Indian manufacturer, to produce one billion doses of COVID-19 vaccines. The vaccines will be produced with attainment of stringent regulatory authorization (SRA) and Emergency Use listing of World Health Organisation (WHO). The announcement is a part of an initiative named Global Health and Prosperity launched by the DFC under which it is working to increase manufacturing, production, and distribution capacity for vaccines, including the vaccines for COVID-19.
The American Administration, under the leadership of Biden and Harris, highlighted this announcement during the Quad Summit held virtually. At the summit, leaders from the United States of America, Australia, India, and Japan also announced a marker partnership between them to further accelerate the fight against COVID-19.
DFC said in a statement that its assistance and financing will help Biological E’s plan to vaccinate as many people in the world as possible in the shortest amount of time. The release also mentioned that Biological E is a women-run and women-operated business, which will advance DFC’s 2X Women’s Initiative to promote global gender equity. David Marchick, Chief Operating Officer at DFC, commented that expanding vaccine manufacturing, especially the COVID-19 vaccine and boosters, will assist in increasing vaccination rates and ensure protection of communities around the world. He said that no investment right now can be imagined with a greater developmental impact using their financial tools as compared to increasing the capacity of vaccine manufacturing which will help developing countries in Asia and around the world respond to the COVID-19 pandemic and other diseases. The release from DFC further added that the agency is trying to strengthen global health systems by providing businesses with financing to increase capacity in the sectors of production, manufacturing, and distribution of vaccines.