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.

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 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 on Thursday announced a E4.7 billion investment package in South Africa to fund green energy projects and boost vaccine manufacturing.

Senior European Union officials are in South Africa for a summit with President Cyril Ramaphosa that centers on bolstering trade and diplomatic ties as both feel the impact of the Trump administration

Secretary of State Marco Rubio had lashed out on social media over comments critical of President Trump that the ambassador had made to a think tank in Johannesburg.

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 European Union has pledged €4. 7 billion (R93. 5bn) to support South Africa's strategic projects, focusing on green energy transition, digital connectivity, and vaccine production. The landmark announcement came during the SA-EU Summit in Cape Town,

The eighth EU-South Africa summit will be held in Cape Town this week, with both sides seeking strategic and reliable partners in the wake of hostilities by the United States.

European Commission President Ursula von der Leyen has announced a €4.7 billion investment package for South Africa, on her visit to the country for the EU-South Africa summit.