The financing 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). VIVAWEST will use the EU bank finance to build around 2,300 housing units to KfW 55 standard in various towns and municipalities in the North Rhine-Westphalia region of Germany. Almost a fifth of these homes will be for social and affordable housing. In Spain, the EIB announced that it will finance Ingeteam's innovative activities by providing a €70 million Innovation Loan. The goal of the agreement signed on 14 October is to support the the Spanish company’s research, development and innovation (RDI) programme focused on renewable energy generation, energy storage and electric mobility. The EU is also supporting the first energy efficiency investment platform in Lithuania. The EIB is lending €12.5 million to National Promotional Institution Viesuju Investiciju Pletros Agentura (VIPA) to promote and finance a broad range of energy efficiency modernization projects in Lithuania, with sub-projects to be carried out by SMEs, mid-caps and the public sector, focusing on building modernisation, and energy-efficient lighting solutions. The financing announced on 10 October is the first tranche of a €25 million approved facility.