The agreement will provide around a reported €153.6 billion in disbursements in 2020, and has significant components for Estonia, via the Cohesion Fund, the Regional Development Fund and the Social Fund, as well as the Common Agricultural Policy, ERR Reports.

Also significant is the additional €96 million, an increased of 35 percent year-on-year, in the CEF energy program, which Estonia and the other two Baltic States had been in favor of boosting, to fund the electricity grid synchronization project.

Climate change mitigation and securing resources to respond to unforeseen situations was also an important topic in the negotiations.

Under the agreement, up to €168.7 billion in program approvals, contracts and payments up to €153.6 billion in disbursements will be committed in the EU 2020 budget, ERR reports.

Priorities for the general EU budget were formulated in February and the draft budget presented by the European Commission in June, with member states and the European Parliament negotiating draft amends up until Monday.

The agreed budget next has to get formal approval from the parliament and the Council of the EU within 14 days, with the vote scheduled for Nov. 27.

Kaja Tael, Permanent Representative to the EU, and Ambassador Marten Kokk, deputy head of the Estonian mission, represented Estonia at the negotiations, which were led by Kimmo Tiilikainen, Secretary of State for the Finnish Presidency. 

The EU budget is proposed annually by the European Commission, and the proposed annual budget is then reviewed and negotiated by the Council of the European Union (which represents Member States' governments) and the European Parliament (which represents EU citizens).

2020 is the last year of the current EU budgetary framework 2014-2020, which is important for achieving the goals set by the EU budget framework.

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