The European Commission and European Investment Bank (EIB) have announced the successful introduction of the Risk Sharing Finance Facility (RSFF) – the latest in a series of joint Commission–EIB initiatives to support research, development and innovation projects in Europe. In particular, it contributes EUR 359 million to research and innovation, with a strong focus on renewable energy technologies. The first RSFF financing operations focus on renewable energy technologies, a priority lending objective for the EIB in 2007, together with financing for automotive, engineering and biotechnology projects. The principal beneficiaries of RSFF loans will be midcap companies and small and medium-sized enterprises, as well as large companies and public/private entities.