This policy finances major environmental and transport infrastructure projects. With an annual budget of € 1.040 billion, ISPA comes under the responsibility of the Regional Policy Directorate General. Together with PHARE and aid for agricultural development, Agenda 2000 proposed structural aid for EU applicant countries amounting to some € 1 billion per year for the period 2000-2006. This aid is mainly directed to align the applicant countries with community infrastructure standards, particularly -and by analogy with the Cohesion Fund -in the transport and environmental spheres. Following on from the European Councils conclusions, the European Commission proposed a regulation on an instrument for structural policies for pre-accession (ISPA), based on Article 235 of the Treaty. Given its similar objectives, it was considered appropriate for ISPA to broadly follow the approach of the revised Cohesion Fund. This supported increase of energy efficiency measures and deployment of renewable energy technologies.