The European Investment Bank (EIB) agreed on 8 February to provide a EUR 40 million loan to INSEAD, for renovation of the French business school’s campus. The loan is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or "Juncker Plan". On the same day, INVL Asset Management, one of Lithuania’s leading asset management companies, completed a first closing of the INVL Baltic Sea Growth Fund, a closed-end private equity fund. At EUR 106 million, the INVL Baltic Sea Growth Fund is now the largest private equity investment fund in the Baltic countries. It is anchored by a EUR 30 million investment by the European Investment Fund (EIF). The EIB also announced on 12 February that it is providing the Austrian lighting company Zumtobel Group with the second EUR 40 million tranche of an EUR 80 million financing programme to strengthen its research and development activities. On 5 February, the EIB announced financing of EUR 26 million for Spanish firm Cikautxo, a specialist in the production of plastic and rubber components for the automotive sector and part of the Mondragón Corporation. Cikautxo will employ over 600 people to implement new, more sustainable production processes that enable the development of innovative products to help manufacture lower emission vehicles. Meanwhile financing of EUR 26 million from the EIB will boost ULMA Group’s growth, enabling it to expand its fleet of construction equipment in Spain and Poland, develop new safety improvement solutions for the construction sector and create over 300 jobs. In Belgium, the EIB will provide a loan of approximately EUR 200 million, as part of a public-private partnership, to Tram'Ardent for the future Liège Tram.