NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

India's Biological E, US Finalise $50 Million Covid Vaccine Deal: Report.

India's Biological E, US Finalise $50 Million Covid Vaccine Deal: Report

US had said it would work to finance Biological E.'s efforts. (Representational)

Bengaluru:

The United States and India's Biological E. Ltd said on Monday they had finalised a financing arrangement for $50 million to expand the vaccine maker's capacity to produce COVID-19 shots.

The agreement was struck in March when leaders of the United States, Australia, Japan and India - the so-called "Quad" countries - met during a virtual summit.

The United States had said it would work via its International Development Finance Corp (DFC) to finance Biological E.'s efforts to produce at least 1 billion COVID-19 vaccine doses for India and developing countries by the end of 2022.

"Scaling Biological E.'s new facility, which is already producing vaccines, will help close the vaccine gap and save lives in developing countries," DFC chief operating officer David Marchick said in an emailed statement.

Inequity in the administration and distribution of COVID-19 shots has been highlighted by many experts and bodies such as the World Health Organisation.

For example, only about 5% of Africa's population is immunised, compared with more than 70% in most wealthy nations.

India, home to the world's largest vaccine maker Serum Institute, is expected to play a vital role in supplying COVID-19 shots to lower- to middle-income countries. The South Asian nation this month resumed vaccine exports for the first time since April.

Related news
CNN fires Chris Cuomo

CNN fires Chris Cuomo

CNN said Saturday that anchor Chris Cuomo has been "terminated" by the network, "effective immediately." #CNN #News

Gen. Thompson predicts China could be the 'leader in space' within decade

Gen. Thompson predicts China could be the 'leader in space' within decade

Vice chief of space operations for the U.S. Space Force, Gen. David Thompson, joined 'Fox News Sunday' to discuss China's role in space, urging the U.S. to 'adapt its approach.' #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox ...

Live: Sen. Bob Dole Dead At Age 98 - NBC News

Live: Sen. Bob Dole Dead At Age 98 - NBC News

Bob Dole, WWII hero and former Republican presidential candidate, has died at age 98. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and eng...

Democracy Is 'Failed' Or 'In Trouble' Among Young Voters.

Democracy Is 'Failed' Or 'In Trouble' Among Young Voters.

Harvard's Kennedy School released a poll of young Americans, ages 18 to 29, and found a generation of voters that looks a little different than many people expected. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection...

Full Braun Interview: On Abortion Rights, ‘Turn It Back To The States’.

Full Braun Interview: On Abortion Rights, ‘Turn It Back To The States’.

Sen. Mike Braun (R-Ind.) talks to Chuck Todd about vaccine mandates and the fight over abortion rights, during an exclusive interview with Meet the Press. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovat...

Full Klobuchar Interview: Senate Should 'Codify Roe v.

Full Klobuchar Interview: Senate Should 'Codify Roe v.

In an exclusive interview with Meet the Press, Sen. Amy Klobuchar (D-Minn.) talks about the Supreme Court's debate over abortion rights and how the Senate might respond if Roe is overturned.» Subscribe to NBC News: » Watch more NBC video: NBC News...