World News@lemmy.worldEnglish · 1 month ago

EU to invest $5bn in South Africa after US aid withdrawal

www.dw.com

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EU to invest $5bn in South Africa after US aid withdrawal

www.dw.com

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World News@lemmy.worldEnglish · 1 month ago

EU to invest $5bn in South Africa after US aid withdrawal – DW – 03/14/2025

www.dw.com

Donald Trump's cancellation of millions in aid to the country left a massive funding gap. The EU's investment package includes funding to boost vaccine manufacturing and for a transition to clean energy.

Summary

The European Union will invest $5 billion in South Africa after Donald Trump’s administration cut nearly all U.S. aid.

EU chief Ursula von der Leyen announced the funding at a Cape Town summit, emphasizing support for clean energy projects like wind, solar, and hydrogen, as well as vaccine manufacturing.

The EU, now South Africa’s largest sub-Saharan trading partner, pledged to prioritize local jobs and development rather than simply extracting resources for export.

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