COVID-19 has presented a global health emergency and exposed weakened health systems in the developing world. As many countries continue to suffer severe outbreaks, DFC is responding to COVID-19 by taking a multipronged approach that helps to expand access to critical therapeutics, introduce medical equipment designed for low-resource environments, bolster liquidity, and strengthen existing health systems to ensure essential services continue during the pandemic.
The agency is also working to address vaccine shortages by increasing manufacturing capacity in multiple regions, with multiple technologies and within large and small countries. This robust approach is tailored to advance long-term sustainable solutions to address current and future health threats.
Further, DFC’s Global Health and Prosperity Initiative seeks to catalyze up to $5 billion in investment to projects that support the COVID-19 response and build greater health resilience. DFC’s Rapid Response Liquidity Facility is providing up to $4 billion to existing projects that are facing challenges as a result of the pandemic.
As part of DFC’s work in addressing COVID-19, financing will help Indian manufacturer Biological E Ltd. increase capacity to produce at least 1 billion doses of COVID-19 vaccines by the end of 2022 for India and other developing countries.
DFC financing to Parsyl, Inc. has also helped the company to establish a new insurance coverage to mitigate the risks of transporting and distributing COVID-19 vaccines and related supplies to remote locations, where delivery is particularly challenging.