Although DFC did not say how much money it will invest in Biological E, it said it will invest between $ 5 million and $ 500 million per eligible private sector project to support vaccine manufacturing.
“It is difficult to conceive of an investment having a greater impact on development than using our financial tools to increase vaccine manufacturing capacity to help developing countries in Asia and around the world fight against Covid-19 and other diseases, ”said the chief executive of DFC. (COO), said David Marchick.
As part of this plan, the company’s billion doses will comply with the World Health Organization (WHO) Strict Regulatory Authorization (SRA) and / or Emergency Use List, including Johnson & Johnson vaccines.
The announcement is part of the development bank’s “Global Health and Wealth Initiative”, which aims to increase the capacity to manufacture, produce and distribute vaccines, including the Covid-19 vaccine.
This development was revealed at the QUAD summit on Friday, during which leaders from the United States, Australia, India and Japan announced their partnership to hasten the end of the pandemic.
“Expanding vaccine manufacturing, especially the Covid-19 vaccine and booster shots, will help increase vaccination rates and protect communities around the world,” Marchik added.
According to the DFC, Biological E is a women-led, women-led company that advances the agency’s 2X Women’s Initiative to promote global gender equity.
“The vaccines that Biological E plans to produce with the help of funding from DFC complement existing efforts to immunize as many people as possible around the world as quickly as possible,” said a DFC official.
As part of the development bank’s Roadmap for Impact strategy, DFC will work with private companies to strengthen global health systems with funding to increase capacity for vaccine manufacturing, production and distribution, which also includes the coronavirus vaccine.
“DFC seeks to strengthen the vaccine supply chain and last mile logistics for distribution. DFC is accepting proposals as part of its global health and prosperity initiative. The agency seeks to invest between $ 5 million and $ 500 million per eligible project through its full range of tools, which include equity and debt financing, political risk insurance and technical development, ”he said. declared the responsible.
The agency expects eligible projects to produce highly effective health outcomes in developing countries.
DFC works with the private sector to fund solutions to the most critical challenges facing the developing world, with investments in energy, healthcare, critical infrastructure and technology.
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