DFC to finance Biological E for expanding COVID-19 vaccine manufacturing

The US International Development Finance Corporation (DFC) will finance $50 million to Biological E for increasing its COVID-19 vaccine manufacturing capacity. A media invitation from the US Consulate said David Marchick, Chief Operating Officer, DFC, and Mahima Datla, Managing Director, Biological E will formalise the financing agreement today.

On 25th October, the US International Development Finance Corporation (DFC) Chief Operating Officer David Marchick and Biological E Limited Managing Director Mahima Datla will formalise a $50 million financing agreement to expand the company’s capacity to produce COVID-19 vaccines, it said. The agreement 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, the US Consulate’s invitation said.