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 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,

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 both the EU and South Africa are experiencing strained relations with the United States.