The investment announced on 10 December is made possible under the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. In a deal reached on 9 December, the European Investment Bank (EIB) and EIF issued a €795 million guarantee to ING, which will support new lending to Dutch SMEs and Mid-Caps to mitigate the economic impact of Covid-19. In Germany, the EIB will provide €15 million in growth funding to identity verification platform IDnow. Meanwhile, at the Web Summit on 3 December, the EIB announced that it will provide Spanish Internet of Things (IoT) pioneer Worldsensing with €10 million to develop next-generation industrial monitoring solutions. In another partnership announced at the Web Summit, the EIB said it is investing €20 million in the Portuguese software company Bizay to finance the implementation of its research and development (R&D) programme and product development roadmap, particularly the company’s B2B marketplace targeted at SMEs such as retail stores, restaurants, hotels and small corporates. On 3 December, the EIB announced the first direct financing for a start-up in the European “New Space” sector with a €20 million venture loan to support Spire Global’s nanosatellite development and launches, space infrastructure, data analytics, and high-skilled job creation in Luxembourg and the EU. In the Netherlands, Invest-NL and the EIF signed an agreement on 2 December under the “InnovFin SME Guarantee Facility” to unlock up to €66 million in SME-lending. The EIB has also invested €30 million in the €85 million GAGEO 1 Fund that offers companies long-term financing of between 3 and 7 years with their stocks or industrial equipment as collateral. The EIB will also provide €290 million to the German company Wacker Chemie AG to help it become a climate neutral chemicals organisation. A loan of up to €50 million from the EIB will help Spanish pharmaceuticals company Ferrer further develop its portfolio of pioneering products and services for treatments related to the cardiovascular and central nervous systems and pain relief. As part of the EIB Group's Covid-19 support measures, the EIF is guaranteeing a portfolio of up to €6 million in micro-loans from Faktoro in Lithuania. On 14 December, the EIB and Boni Holding AD, a fast-growing agri-business company, signed a €30 million loan agreement for the modernisation of existing and construction of new production facilities in rural areas across Bulgaria.