The European Union has pledged 11.5 billion euros, equivalent to $13.34 billion, to South Africa, targeting sustainable energy, transport infrastructure, and healthcare, the EU delegation said, Bloomberg reported.

The funding forms part of the EU’s plan to support South Africa’s transition to a low-carbon economy, improve infrastructure, expand digital connectivity, and develop the pharmaceutical sector.

Around 8.7 billion euros, or $10.09 billion, will be delivered as blended finance, combining public and private capital. Projects include facilities to process critical minerals and produce green hydrogen. The remainder will support transport networks, infrastructure resilience, and local vaccine production.

The pledge follows a 4.7 billion euro commitment in March, equivalent to $5.45 billion, though the EU has not clarified whether the 11.5 billion euros is in addition to that earlier sum.