"Now we can start with the implementation and build back our economies. Our landmark recovery package will drive forward our green and digital transitions,'' Michel wrote on his Twitter page.
It is noted there are no details of the agreement available to the public. The decision had been previously blocked by Poland and Hungary. They are now facing investigations over charges that they have undermined the independence of their courts and media.
As we reported earlier, on December 9, the EU leaders gathered for a meeting in Brussels.
It is specified that UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen failed to reach an agreement during that talks.
"We are fed up with Brexit. Leaders didn't want it taking over the summit. We want to concentrate on climate change and other things,” one of the EU foreign ministers said.