European Union leaders have announced a 4.7 billion euro ($5.1 billion) investment package in South Africa to support green energy transition and vaccine production at their first bilateral summit in seven years.

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,

Ramaphosa aims to use South Africa’s G20 presidency to advocate for debt relief and climate financing for developing nations—priorities that have been downplayed by the U.S.

The European Union has pledged its commitment to strengthening ties with South Africa, announcing a R94b investment package which has divided locals.

European Union leaders announced 4.7 billion euros ($5.1 billion) in investments in South Africa on Thursday to support green energy and vaccine production, and agreed to start talks on new trade deals with Africa's most advanced economy.

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.

European Commission President Ursula von der Leyen on Thursday announced a new 4.7 billion euro ($5.10 billion) investment package for South Africa on a visit to the country. Von der Leyen said the Global Gateway investment package was to support a just energy transition,