European leaders are set to back a 200-billion-euro ($264 billion) economic stimulus pact and a climate change plan amended to ease its impact on industry and poorer EU states, according to a draft text.

The draft agreement appeared to reflect a softening of positions by the second day of a summit which began with Germany's finance minister publicly accusing Britain of "tossing around billions" in an effort to scramble out of recession.

The text committed the bloc to reaching a target of cutting greenhouse gas emissions by 20 percent by 2020, despite concessions.