The European Union is set to pay Turkey three billion euros ($3.2 billion) in return for stopping the flow of refugees to Europe, Press TV reported on Sunday.

EU leaders gathered in Brussels, Belgium’s capital and home to the headquarters of the EU, to hold talks with Turkey and offer Ankara cash and closer ties with the EU in return for Turkish help in stemming the flow of refugees to Europe.

"Both sides will, as agreed and with immediate effect, step up their active cooperation on migrants who are not in need of international protection, preventing travel to Turkey and the EU, ensuring the application of the established bilateral readmission provisions and swiftly returning migrants who are not in need of international protection to their countries of origin," the draft, seen by Reuters, said.

"This meeting will provide new momentum to relations. It's important in so many aspects because it's the first EU-Turkey summit in 11 years," Turkish Prime Minister Ahmet Davutoglu told reporters at Ankara airport as he left for Brussels.

"It had already been decided that Turkey should not shoulder the migrant problem alone. A joint action plan has been agreed," he said.

Davutoglu is due to meet the 28 EU national leaders in Brussels for three hours from 4 p.m. local time (1500 GMT).

The Europeans are under pressure to manage the biggest refugee crisis to hit the continent since World War Two.

The crisis has set EU nations in opposition to each other as ‘have not’ countries shift the refugee burden to the wealthy countries, such as Germany and Sweden.

The EU wants Turkey to use the cash it is offering to improve life for the 2.2 million Syrians now living in Turkey so that they are less likely to take to boats for nearby Greek islands.

Sources: MENA