The investment finalized on 13 November 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). Also on 13 November, the Commission announced its support for the new energy lending policy of the European Investment Bank (EIB) Group, which will help the Bank achieve full alignment with the Paris Agreement. On 11 November, the EIB announced that it is providing financing of up to €20 million to Bitmovin, an innovative developer of video streaming technology. In Denmark, the EIB signed a financing agreement with the Danish national promotional institution (NPI) Vækstfonden in which both parties will inject €75 million into a co-investment platform that will target SMEs and Mid-Caps. Socoden-FEC and the EIF announced on 7 November that they are joining forces to provide €25 million in guarantees for loans to cooperative enterprises in France. The initiative is financed by the Programme for Employment and Social Innovation (EaSI) and backed by the Juncker Plan. The EIB said on 5 November that it is providing €17 million in quasi-equity financing to QEV Technologies to support the Spanish company’s research and development activities for electric vehicles. On November 5, the EIF and Instituição Financeira de Desenvolvimento (IFD) signed a €15 million commitment to Faber Tech II, a new venture capital fund focused on investing in early-stage data-centric start-ups in Iberia, primarily from Portugal.