Today’s announcement by the DFC is another example of America doing exactly the right thing of catalyzing global action with our international partners, not only to help our fellow global citizens, but for the health and safety of Americans. The global pandemic crisis is far from over around the world and addressing the shortage of vaccine manufacturing in Africa – where just two percent of the world’s COVID-19 vaccines have been administered to date – is not just the right thing to do, but the smart thing to do.

The stakes couldn’t be higher – failing to get shots into arms could cost the global economy $9 trillion, not to mention the costs associated with the virus’ destabilizing effects on existing humanitarian crises, fragile states, and global health security. Even with the good news of declining COVID-19 case rates in the U.S., virus surges abroad will continue to threaten our own health and economic recovery until we step up to ensure equitable vaccination around the world.