U.S. DFC announces financing to support COVID-19 vaccine manufacturing in South Africa

The U.S. International Development Finance Corporation (DFC) on Wednesday announced a joint financing package of €600 million for Aspen Pharmacare Holdings Ltd., headquartered in South Africa, to expand local vaccine manufacturing capacity.  

DFC is working together with DEG (Germany), Proparco (France), and the International Finance Corporation (IFC) to provide the financing support. 

The package will help increase capacity to support Aspen’s efforts to produce COVID-19 vaccines with Stringent Regulatory Authorization (SRA) and/or World Health Organization (WHO) Emergency Use Listing, including the Johnson & Johnson COVID-19 vaccine.

The vaccines will be primarily distributed to the African Union, South African Government, and COVAX. 

“This effort supports the Administration’s goal to scale vaccine production, invest in African ingenuity and resilience, and help the global community beat this COVID-19 pandemic,” the U.S. Department of State said in a statement.

Chief White House Correspondent for

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

Show More
error: Alert: Share This Content !!

Adblock Detected

Please consider supporting us by disabling your ad blocker