In accordance with Regulation EU No 1316/2013 of the European Parliament and of the Council establishing the Connecting Europe Facility, the energy sector will be awarded a little less than EUR 6 billion for the construction of the trans-European infrastructure network, with a view to achieving the energy and climate objectives of the Europe 2020 Strategy. The CEF will also help to close financial gaps and remove network bottlenecks. The internal energy market will be further developed through better internal connections, leading to greater supply security and the possibility to transport renewable energy in a cost effective manner across the EU. The funds from the CEF will act as leverage for more funding from other private and public investors.