ERR, the public broadcaster, presented its vision of a state-run Russian-language television channel to the government on Thursday, which green-lighted the project.
The project comes with an annual price tag of 4 million euros, and the Ministry of Culture will now begin searching for funding.
According to Delfi, ERR will receive a one-off injection of 1.8 million euros from the government and an additional 1.3 million when the channel opens.
Culture Minister Urve Tiidus told ETV that surveys say that 66 percent of ethnic Russians would watch the channel. She said ERR, which is the umbrella organization for other state-media units such as ETV and ERR News, will be in charge of programming.
The channel could air as early as September 2015.