EU says support of SA developmental, investment goals not conditional
On Thursday, the EU pledged to mobilise €4.7 billion in a global investment package for South Africa, including the transition to a low-carbon economy.
President of the EU Council, Antonio Costa (left), and president of the European Commission, Ursula von der Leyen (right) pictured with President Cyril Ramaphosa (centre) at Tuynhuys in Cape Town for the SA-EU summit on 13 March 2025. Picture: GCIS
CAPE TOWN - The European Union (EU) has come out strongly in support of South Africa’s developmental and investment goals, saying its aid is neither conditional nor temporary.
On Thursday, the EU pledged to mobilise €4.7 billion in a global investment package for South Africa, including the transition to a low-carbon economy.
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But EU Commission President Ursula von der Leyen said the new global gateway investment package is not a response to the United States (US) withdrawing from South Africa’s just energy partnership just a week ago.
Von der Leyen and European Council President Antonio Costas were in Cape Town on Thursday for the eighth SA-EU Summit.
The new global gateway investment package announced at the summit comprises EU grants, loans from European financial institutions and South Africa’s development banks.
Top of the agenda is harnessing South Africa’s green energy potential.
Von der Leyen said it’s regrettable the US has opted out of the just energy transition.
“It’s fresh, it’s new money coming. It’s independent of the withdrawal of the United States. It’s a team Europe effort, if I can call it that. So, our signal is very clear, we stay the course. We think it’s an absolute excellent project.”
The investment package will also fund transport infrastructure, digital connectivity and vaccine manufacturing.
“We know others are withdrawing. So, we want to be very clear with our message. We are doubling down on our support. We are here to stay.”
Von der Leyen said the EU will prepare a memorandum of understanding on clean energy to be signed on the sidelines of the G20 leaders’ summit in November.