Xylem Inc. announced that it has signed a $158 million (EUR 120 million) financing agreement with the European Investment Bank to fund innovative and aspirational research and development (R&D) projects across Europe. The deal underscores the EIB's involvement in the water sector and is part of The Risk Sharing Finance Facility (RSFF) initiative run by the EIB and the European Commission to promote R&D in the European Union. Representatives of Xylem and the EIB convened in Luxembourg to commemorate the formal signing of the agreement.