The Financing Regulation (EC) No 680/2007 of the European Parliament and of the Council of 20 June 2007 lays down the general rules for the granting of Community financial aid for TEN-T and TEN-E (Energy networks). It replaced an older regulation (EC) No 2236/95, on the 1st of January 2007 whereas the old regulation will continue to be applied to actions already underway.
The regulation lays down eligibility criteria as well as criteria for the selection of the projects. Community aid can be granted for:
- studies or construction works;
- grants for works in the framework of availability payment schemes;
- interest rate rebates on loans given by the EIB or other public or private financial institutions;
- financial contributions to the provisioning and capital allocation for guarantees to be issued by the EIB on its own resources under the newly established loan guarantee instrument;
- risk capital participation for investment funds and for financial contributions to the project-related activities of joint undertakings.
The amount of Community financial aid for studies shall not exceed 50% of the eligible costs. For works on priority projects it shall not exceed 20% and respectively 30% of the costs for cross border projects. Projects other than priority projects can be co-financed up to 10% by means of Community financial aid. Special provisions are available for the implementation of the ERTMS project of which 50% of the costs can be co-funded. A project cannot be financed under different Community instruments whereas the EIB operations are compatible with the granting of financial aid under this regulation.
In order to have a more strategic approach the regulation foresees programming instruments like the multiannual and the annual work programmes. 80-85% of all budgetary resources are reserved for projects within the multiannual programme.
For the period 2007 to 2013 a financial envelope of 8,013 bn Euro is available for the implementation of the TEN-T.
The current state of negotiations on the MFF forsees the following numbers for the Period of 2014- 2020: EUR 23,174 bn, out of which EUR 10bn will be transferred from the Cohesion Fund to be spent in line with the CEF Regulation in Member States eligible for funding from the Cohesion Fund.