The United States International Development Finance Corporation is a state-run development finance institution that primarily invests in development projects in low- and middle-income countries.
The head of the US International Development Finance Corporation will visit India later this month as part of Quad’s efforts to boost vaccine manufacturing.
The United States International Development Finance Corporation (DFC) is a state-run development finance institution that primarily invests in development projects in low- and middle-income countries.
Leading a high-level delegation, David Marchik, Chief Operating Officer (COO), DFC will visit India from October 24 to 26.
In Hyderabad, the delegation will visit the offices of Indian vaccine manufacturer Biological E and participate in a signing ceremony to open a new facility with sufficient capacity for vaccine manufacturing, an official release said.
“This work is in support of the historic commitment set by President (Joe) Biden and his counterparts in the ‘Quad’ – Australia, India, Japan and the United States,” the DFC said in a statement.
On 24 September, Mr Biden hosted the first in-person summit of the Quad leaders at the White House. At the invitation of President Biden, Prime Minister Narendra Modi and his counterparts Scott Morrison from Australia and Yoshihide Suga from Japan attended the Quad summit.
Following the conclusion of the summit, the Quad leaders said in a joint statement that in addition to the doses funded through COVAX, the four-nation bloc has pledged to donate more than 1.2 billion doses of safe and effective COVID-19 vaccines globally. and as part of those commitments, nearly 79 million safe, effective and quality-assured vaccine doses have been distributed to countries in the Indo-Pacific.
Mr Marchik will travel to India after his visit to South Africa from 18 October. The visit to South Africa and India is to advance DFC investments to promote global health and help expand COVID-19 vaccine production capacity in the developing world.
Jim Pollan, Vice President of DFC Development Credit and other DFC senior staff will accompany the COO.
During the South Africa tour, the DFC delegation will visit the Africa Data Centre, a DFC client developing and expanding critical technology infrastructure across Africa. A media release said the delegation will visit the sterile facilities of Gakberha (formally known as Port Elizabeth) of Aspen Pharmacare, Africa’s largest pharmaceutical manufacturer, as well as others critical to the COVID-19 response. Will also meet with pharmaceutical manufacturers.
The DFC said, “Since the first day of the Biden administration, President Biden has said that the only way to defeat COVID-19 is to end the pandemic by vaccinating Americans at home and abroad and non-Americans abroad. “
The US has committed to donate 1.1 billion doses of Covid vaccines worldwide and has already shipped nearly 200 million doses to developing countries – more doses than the rest of the world combined, it said.
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