The European Investment Bank (EIB) announced on 5 October that it will support the construction of the Northwester wind farm off the Belgian coast with a loan of EUR 210 million. Slightly more than half of this amount will be guaranteed under the European Fund for Strategic Investments (EFSI), the central pillar the Juncker Commission’s Investment Plan for Europe. The EIB is also showing its support for the Hungarian economy and for cohesion projects in Central and Eastern Europe. On 4 October, the EIB concluded four different loan agreements for a total amount of EUR 400 million and one advisory agreement. Two of the four agreements are guaranteed by the EFSI and will support the modernisation of the power transmission network and financing for SMEs. In Poland, the European Investment Fund (EIF) and Bank Gospodarstwa Krajowego (BGK) signed a new agreement on 27 September under the Cultural and Creative Sectors (CCS) Guarantee Facility of the EU's “Creative Europe” Programme. The pilot programme aims to generate PLN 525 million (approx. EUR 125 million) in new financing for almost 3,000 SMEs in the cultural and creative sectors in Poland. The first EIB loan to a social enterprise in Spain will be made to ILUNION. The organisation will receive EUR 35 million to improve the energy efficiency of its industrial laundrettes and renovate its hotels, thus creating 200 new jobs.