The European Investment Bank (EIB) has signed a EUR 14 million venture loan agreement with Sweden’s Cimco Marine AB to co-finance its innovation and growth investments.As per the unsecured credit facility agreement, the EIB will finance up to 50 percent of Cimco’s development of a new family of diesel outboard engines, inter alia a 3 liter, 6- cylinder twin turbo BMW diesel engine with a number of power outputs between 200 hp and 300 hp."The total facility is split into three tranches of EUR 4 million (A), EUR 4 million (B) and EUR 6 million (C) respectively," it said.The availability period for the facility is 30 months from signing, during which Cimco can meet all milestones for tranches A-C.