The €20 million euro loan is backed by guarantees from the EU budget, under the Investment Plan for Europe - the Juncker Plan - and its European Fund for Strategic Investments (EFSI). Prophesee will use the EU financing to develop international markets and to complete the development of its 4th generation sensor to be launched on the Internet of Things and automotive markets in 2020 and 2021 respectively. On 24 October, the European Investment Fund (EIF), part of the EIB Group, concluded the first microfinance guarantee agreement in Bulgaria, under the European Commission's Programme for Employment and Social Innovation ("EaSI"). The financing of BGN 10 million (€5.1 million) is envisaged to support 320 micro-enterprises. The agreement was signed with JOBS MFI, the dedicated microfinance subsidiary of the Bulgarian Development Bank. The EIB announced on 23 October that it will loan €30 to Mabion, a Polish biotech company, to finance its growth plans for treating cancer and autoimmune diseases. The company is the first beneficiary under the European Growth Finance Facility in Poland, which is backed by the Juncker Plan.