The CINEA Guidance on Economic Appraisal for CEF‑T Transport Projects 2022 provides methodological guidance for preparing the economic appraisal of transport infrastructure proposals submitted under the Connecting Europe Facility (CEF) Transport Programme. The guidance explains how applicants should conduct cost-benefit analysis (CBA) to demonstrate the socio-economic value of projects within the Trans-European Transport Network (TEN-T). It outlines the definition of the project scope using the concept of a “self-sufficient unit of analysis,” ensuring that the evaluated investment delivers a complete transport service to users. The appraisal assesses costs, user benefits, operational savings, safety improvements, and environmental externalities such as emissions and noise. Economic indicators like Economic Net Present Value (ENPV) and Benefit-Cost Ratio (BCR) are used to determine whether projects generate net benefits for society. The guide also distinguishes economic analysis from financial analysis, emphasizing that economic appraisal includes wider societal impacts while financial analysis focuses on project cash flows to justify EU co-financing.
