Negotiators from the European Parliament and EU member states are trying to end a three-year battle over the future of the Common Agricultural Policy (CAP), which will spend 387 billion euros, a third of the EU’s 2021-2027 budget, on payments to farmers and support for rural development.

The plan is to divert more money to smaller farms, rather than supporting big agro-industry businesses, and ensure that cash is spent in ways that protect nature and cut the 10 percent of EU greenhouse gases emitted by agriculture.

“We are very close to a good compromise. Closer than ever. We made a huge progress overnight on most sensitive issues,” said EU agriculture commissioner Janusz Wojciechowski, who participated in the talks.

Any funds below those limits that are not spent on eco-schemes must be spent on green measures in other areas instead.

Parliament had wanted a higher 30 percent share, while member states’ starting point in the talks was 20%.