At its meeting on 18 September 1995, the Economic and Financial Council formally adopted a Regulation setting out the general rules on Community funding of trans-European networks. The Council had already adopted a common position on this Regulation on 31 March 1995. The Regulation lays down the legal base for disbursing funds, amounting to ECU 2,345 million for the 1995-1999 period, to finance infrastructure projects of common interest in the transport, energy and telecommunications sectors. It lays down the conditions, methods and procedures governing the approval of projects for funding. ECU 240 million is allocated for the current year.