European Union leaders have announced a 4.7 billion euro, or about $5.1 billion, investment package in South Africa to support green energy transition and vaccine production.

European Union leaders announced a 4.7 billion euro ($5.10 billion) investment package during a visit to South Africa on Thursday, at a time when both are on worse terms with the United States than they have been for decades.

The EU's investment package includes funding to boost vaccine manufacturing and for a transition to clean energy.The European Union will invest $5 billion in South African aid and development projects,

Mr Cyril Ramaphosa, President of the Republic of South Africa, met with Mr Antonio Costa, President of the European Council and Mrs Ursula von der Leyen, President of the European Commission, in Cape Town today for the 8th Summit between South Africa and the European Union (EU). The Leaders issued the following statement:

European Union leaders on Thursday announced a €4.7 billion ($5.10 billion) investment package during a visit to South Africa. This comes at a time when

The EU and South Africa are forging stronger ties as they both grapple with aid and trade threats from the Trump administration in the United States.

The European Union and South Africa held their first summit since 2018 in Cape Town. The EU plans to mobilize 4.7 billion ($5.1 billion) for investment in South Africa that will include money for green energy as well as for the manufacture of vaccines in the country.