The Indian foreign Secretary Harsh Vardhan Shringla on Friday said, the leaders of four countries Japan, India, United States and Australia have agreed to pool finance, manufacture and distribute 1 billion of coronavirus vaccines across the whole Asia by the end of 2022.
The decision comes from Quad Summit of these four countries.
The group of these four nations want to expand their vaccination globally and to counter the China’s growing vaccination policy in the world.
In a news conference the foreign secretary said that the partnership between quad nations was “most pressing and valuable” following the four-way virtual summit in New Delhi.
“The four countries have agreed to a plan to pool their financial resources, manufacturing capabilities and capacities, and logistical strengths so as to ramp up the manufacturing and distribution of the COVID-19 vaccines in the Indo-Pacific region,” said Shringla.
“We believe this will speed up the process of post-pandemic recovery and enable families and businesses to put the COVID-19 crisis behind them.”
India, which is the largest manufacturer of vaccines will manufacture U.S vaccines with finances coming from the Japan Bank for International Cooperation and U.S International Development Finance Corporation. On the other hand Australia will be financing the training and the logistical support for the last-mile distribution of the vaccines.
He also said that most of the vaccines will be distributed to the Southeast Asia, Pacific Islands and the countries in Indian Ocean.
However, the venture may be hindered due to the U.S export restrictions on critical raw materials for India’s vaccine supply chain.
“Consideration is being given to this very important point,” said Shringla without much explanation.
The venture will not affect the vaccine production for India’s 1.4 billion people, ensured the foreign secretary.