On 4 July, the European Investment Bank (EIB) signed an up to EUR 14 million venture loan agreement with Cimco Marine AB of Sweden, for further development of a low-emission, fuel-efficient diesel outboard engine to replace highly polluting petrol engines. The project is supported by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, the Juncker Plan. The European Investment Fund (EIF) and Banco BPM signed an agreement on 27 June that will allow Banco BPM to make available EUR 330 million in loans to SMEs and midcaps in Italy. The synthetic securitisation is supported by an additional guarantee supplied by the EIB, backed by the Investment Plan for Europe. In Germany, the EIB will lend up to EUR 20 million to PAION AG, an  Aachen-based pharmaceutical company, to support its development of ‘remimazolam', a drug candidate for use in procedural sedation, general anaesthesia and intensive care unit (ICU) sedation. In another pharmaceutical deal, the EIB is providing Spanish pharmaceutical company Almirall with EUR 120 million to develop new medications for dermatological problems currently lacking effective treatment.