US Development Finance Corporation chief to visit India to boost Covid vaccine manufacturing

Washington, October 16

The head of the US International Development Finance Corporation would be visiting 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, which invests in development projects primarily in lower- and middle-income countries.

Leading a high-powered delegation, DFC Chief Operating Officer (COO) David Marchick would travel to India from October 24 to 26.

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

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

Marchick would travel to India after his visit to South Africa beginning October 18. The travel to South Africa and India is to advance DFC investments helping boost global health and expand Covid vaccine production capacity throughout the developing world. PTI