Biological E to receive US $ 50 million to boost Covid-19 vaccine capacity

Support from DFC will help produce one billion vaccine doses by the end of 2022

The U.S. International Development Finance Corporation (DFC), has arranged a financing arrangement of US $ 50 million to expand the vaccine manufacturing facility of Biological E to produce COVID-19 vaccines in Hyderabad.

The agreement was signed in the presence of DFC COO David Marchick and Biological E. Managing Director Mahima Datla.

The continued partnership will help bolster near-term Covid-19 response efforts and will also benefit long-term global health in India and throughout the Indo-Pacific region. This work is in support of the historic commitment set out by President Biden and his counterparts in the “Quad” – Australia, India, Japan, and the United States.

“DFC’s partnership with Biological E will support capacity for production of more than one billion vaccine doses by the end of 2022 for India and developing countries around the world,” said Marchick.  “Today’s agreement represents a model of the close collaboration among countries that will be essential to achieve President Biden’s goal of ending the pandemic in 2022. Scaling Biological E.’s new facility, which is already producing vaccines, will help close the vaccine gap and save lives in developing countries.”

"We are pleased with the financial support from the U.S. government, especially DFC, which was announced at the Quad Summit in March 2021,” said Mahima Datla, Managing Director, Biological E. Limited. “This investment will not only help us augment our capacity to produce more number of Covid-19 vaccines, but also help the global community that has been relentlessly fighting against the spread of the pandemic,” further said Mahima.

DFC’s investment in Biological E. is part of the agency’s Global Health and Prosperity Initiative, which is focused on supporting the global response to the Covid-19 pandemic and strengthening health resilience in developing countries. Through the initiative, DFC is working to catalyse US $ 5 billion in projects that bolster health systems, support infrastructure development, and expand access to clean water, sanitation, and nutrition.