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On 19 October 2011, the European Commission (the
"Commission") published a proposal to fund €50 billion worth of investment in
the European Union's ("EU") transport, energy, and digital networks for the
period from 2014 to 2020, with a view to strengthening links across Member
State borders. Amongst the measures that were adopted by the Commission are a
draft regulation to establish the Connecting Europe Facility (the "CEF"), the
terms for the Europe 2020 Project Bond Initiative (the "Project Bond
Initiative"), and a proposal for a regulation on guidelines for trans-European
energy infrastructure (the "Energy Infrastructure Guidelines Regulation").
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