DFC COO Marchick Meets with Leadership of Biovac, South African Bio-Pharmaceutical Company

U.S. International Development Finance Corporation
October 20, 2021
MEETING READOUT

The below is attributable to DFC Spokesperson Pooja Jhunjhunwala:

U.S. International Development Finance Corporation (DFC) Chief Operating Officer David Marchick today met with Morena Makhoana, CEO of Biovac, the South Africa-based bio-pharmaceutical company. Biovac, in cooperation with Pfizer and BioNTech, is poised to fill and finish 100 million doses of the Pfizer-BioNTech COVID-19 vaccine in Africa for delivery in Africa. COO Marchick and Dr. Makhoana discussed potential opportunities to expand vaccine manufacturing capacity in Africa, to bolster the global response to COVID-19 and advance long-term health security throughout the African continent. DFC has collaborated with the IFC and other development finance institutions to help finance similar projects.

Under President Biden’s leadership, the United States has announced donations of more than 1 billion doses of COVID-19 vaccines to developing countries and already delivered more than 190 million doses. DFC’s financial tools are driving growth in vaccine manufacturing capacity in multiple regions, with multiple technologies and within large and small countries. Already, DFC’s support is projected to facilitate capacity expansion to produce nearly 2 billion COVID-19 vaccine doses across the globe, with more projects in the pipeline. The agency is also working on expanding access to critical therapeutics and introducing medical equipment designed for low-resource environments under DFC’s Global Health and Prosperity Initiative.

Credit: Originally published by the DFC »

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U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.