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,

The European Union on Thursday announced a 4.7 billion euro investment pact with South Africa aimed in part at supporting the country’s just energy transition.

The EU-South Africa summit came at a time of "global uncertainty ... characterised by rising unilateralism, economic nationalism", South Africa's President Cyril Ramaphosa said in opening remarks that referenced a huge global shake-up since US leader Donald Trump took office.

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.

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 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.