Britain and the European Union (EU) have agreed on a long-awaited Brexit deal just a few hours before a meeting of the bloc’s leaders in Brussels.

European Commission President Jean-Claude Juncker made the announcement in a statement on Thursday, saying that the deal on Britain’s withdrawal from the EU was a “fair and balanced agreement.”

Juncker said he would recommend that the leaders of the other 27 member states approve the deal, adding it was “high time” to complete the divorce process and move on as swiftly as possible to negotiations of the EU’s future partnership with Britain.