Development Finance Corporation COO Marchick to visit South Africa and India to advance U.S. investments in global health
American International Development Finance Corporation
October 15, 2021
WASHINGTON – From October 18-26, 2021, David Marchick, COO of the U.S. International Development Finance Corporation (DFC), will visit South Africa and India to advance DFC investments and help improve global health and expand COVID-19 vaccine production capacity in developing countries. . DFC Development Credit Vice President Jim Polan and other senior DFC executives will accompany the COO. While in South Africa, the DFC delegation will visit Data Centers in Africa, a DFC client that is developing and expanding critical technology infrastructure across Africa. The delegation will visit the sterile facilities of Aspen Pharmacare, Africa’s largest pharmaceutical maker, in Gqeberha (formerly Port Elizabeth), and meet with other pharmaceutical manufacturers critical to the COVID-19 response.
COO Marchick and the traveling delegation will arrive in India on October 24, 2021. In Hyderabad, the delegation will visit the offices of Biological E, the Indian vaccine maker, and participate in a signing ceremony to open a new facility with substantial capacity for vaccine manufacture. This work supports the historic commitment made by President Biden and his âQuadâ counterparts – Australia, India, Japan and the United States.
Since day one of the Biden administration, President Biden has said the only way to defeat COVID-19 is to end the pandemic both at home and abroad by vaccinating Americans at home and not. – Americans abroad. So far, the United States has pledged to donate 1.1 billion doses of vaccine and has already shipped nearly 200 million doses to developing countries – more doses than the rest of the world combined .
DFC’s financial tools are driving the growth of vaccine manufacturing capacity in multiple regions, with multiple technologies, and in countries large and small. Already, DFC’s support is expected to facilitate the expansion of capacity to produce nearly 2 billion doses of COVID-19 vaccine worldwide by the end of 2022, with other projects underway. The agency is also working to expand access to essential treatments and introduce medical equipment designed for low-resource environments as part of the Global CFD Health and Welfare Initiative.
Credit: Originally published by the DFC “
US International Development Finance Corporation (DFC) is the development bank of the United States. DFC partners with the private sector to fund solutions to the most critical challenges facing the developing world today. We invest in sectors such as energy, health, critical infrastructure and technology. DFC also provides finance to small businesses and women entrepreneurs to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights and workers’ rights.