EU announces billions of investment package for South Africa

European Commission President Ursula von der Leyen has announced a new $5.10 billion (4.7 billion euros) investment package for South Africa Thursday at the eighth EU-South Africa summit in Cape Town. The funding includes "clean energy transition" projects and efforts "to boost vaccine manufacturing," she said in a video. EU chief von der Leyen said the commission is aware of South Africa's drive to protect the "health of its people, autonomy and local industries," adding that "Europeans want to diversify some of our most critical supply chains, and we know that virus knows no borders," she said. Von der Leyen made the remarks while sitting next to South African President Cyril Ramaphosa and European Council President Antonio Costa. In his opening remarks, Ramaphosa said the summit attests to the "long-standing and close relationship," that is a "partnership based on shared values and common interests."