Head of US Development Finance Corporation to visit India to boost vaccine manufacturing

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The United States International Development Finance Corporation is a state-run development finance institution that invests in development projects primarily in low- and middle-income countries.

The head of the American International Development Finance Corporation will visit India later this month as part of the Quad’s efforts to boost vaccine manufacturing.

The United States International Development Finance Corporation (DFC) is a state-run development finance institution that invests in development projects primarily in low- and middle-income countries.

Leading a high-level delegation, DFC Chief Operating Officer (COO) David Marchick will visit India from October 24-26.

In Hyderabad, the delegation will visit the offices of Indian vaccine maker Biological E and participate in a signing ceremony to open a new facility with substantial vaccine manufacturing capacity, according to an official statement.

“This work supports the historic commitment made by President (Joe) Biden and his ‘Quad’ counterparts – Australia, India, Japan and the United States,” the DFC said in a statement.

On September 24, Biden hosted the first-ever in-person Quad Leaders Summit at the White House. At the invitation of President Biden, Prime Minister Narendra Modi and his Australian counterparts Scott Morrison and Yoshihide Suga of Japan attended the Quad Summit.

After the summit was concluded, Quad leaders said in a joint statement that in addition to doses funded by COVAX, the four-country bloc pledged to donate more than 1.2 billion doses worldwide. of safe and effective COVID-19 vaccines and to date, nearly 79 million doses of safe, effective and quality-assured vaccines have been delivered to Indo-Pacific countries as part of these commitments.

Mr. Marchick will travel to India after his visit to South Africa from October 18. The trip to South Africa and India aims to advance investments in CFD, helping to strengthen global health and expand COVID-19 vaccine production capacity in the developing world.

DFC Development Credit Vice President Jim Polan and other senior DFC executives will accompany the COO.

During the South Africa tour, the DFC delegation will visit Africa Data Centers, 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 manufacturers of pharmaceuticals critical to the COVID-19 response, said A press release.

“From 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 abroad. non-Americans abroad, ”said the DFC.

The United States has pledged to donate 1.1 billion doses of Covid vaccine globally and has already shipped nearly 200 million doses to developing countries – more doses than the rest of the world combined, did he declare.


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