US DFC to extend $50-million vaccine assistance to Biological E

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HYDERABAD: As part of the Quad vaccine partnership, the United States International Development Finance Corporation (DFC) will extend financial assistance to the tune of $50 million to Hyderabad-based Biological E Ltd to help the vaccine maker ramp up its capacities to make over 1 billion doses of Covid-19 vaccines by 2022 end.
DFC’s chief operating officer David Marchick and Biological E’s managing director Mahima Datla will sign on the dotted line of the agreement on Monday in Hyderabad.
The formalisation of the financing agreement comes over six months after the US government announced its decision to extend assistance to the Indian vaccine maker after the Quad Leaders’ Summit, held virtually in March 2021.
The Quad is an informal strategic forum comprising India, the US, Japan and Australia that aims at countering China’s growing influence in the Indo-Pacific region….

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