The US government financial arrangement of 50 million dollars to expand Hyderabad-based Biological E. Limited’s capacity to produce COVID-19 vaccine was finalised on Monday.
United States International Development Finance Corporation (DFC) COO David Marchick and Biological E Limited’s managing director Mahima Datla signed the agreement at an event held in Hyderabad.
This work is in support of the commitment set out by US President Biden and his counterparts in the Quad - Australia, India, Japan, and the United States, as per a press release.
The company’s MD Mahima Datla said that the DFC support and funding is playing an instrumental role in ensuring access to vaccines not just for India but for rest of the world.
“We are currently in the process of building enhanced vaccine manufacturing capacity to augment COVID vaccine availability for the entire Asia-Pacific region and indeed the world,” she said at the event. The DFC’s COO said that the investment with Biological E has potential to produce more than a billion doses to the world.
India’s Ministry of External Affairs Joint Secretary Vani Rao, United States Consul General Joel Reifman, Japanese Consul General Taga Masayuki, Australian Consul General Sarah Kirlew, Telangana’s IT and Industry principal secretary Jayesh Ranjan and others participated in the event.
