Admin l Wednesday, June 30, 2021
WASHINGTON – The U.S. International Development Finance Corporation (DFC) has announced a joint financing package of €600 million for Aspen Pharmacare Holdings Ltd., headquartered in South Africa.
The fund according to Spokesman Ned Price is to expand local vaccine manufacturing capacity. DFC is working together with DEG (Germany), Proparco (France), and the International Finance Corporation (IFC) to provide 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, according to Ned Price 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.
