The first leader meeting of the Quad group of countries on Friday plans to announce a financing agreement to support the increase in production capacity for the Coronavirus vaccine in India, a senior administrative official told Reuters.
The financing agreement will be among the United States, Japan and others and focus, especially in companies and institutions in India that produce vaccines for American drug makers Novavax Inc. and Johnson & Johnson, who do not want to be identified by the name, said.
The purpose of the initiative by Quad, which groups of the United States, India, Japan and Australia will reduce backlog manufacturing, vaccination speed, and defeat some Coronavirus mutations, the official said.
“The idea is that the faster you can vaccinate, the more that you can defeat some of these mutations. So this is the capacity that will be online later this year, and it will substantially increase our capacity, collectively,” he said.
Some additional vaccine capacities made in India will be used in vaccination efforts in Southeast Asian countries, added the official.
The White House announced at the beginning of Tuesday that President Joe Biden would participate in a quad online meeting on Friday, the first leader meeting meeting of a group was seen as part of an effort to balance the military and economic strength of China.
White House spokesman Jen PSAKI said he hoped various problems faced by the global community to be discussed “from covid threats, to economic cooperation and … the climate crisis.”
India urged another quad member to invest in vaccine production capacity in an effort to fight the Diplomacy of Chinese widening vaccines.