Business & Economy

EFSF approves €1 bln for Greece

11 July, 2014

The European Financial Stability Facility (EFSF) has approved the disbursement of 1 bln euros to Greece, taking into consideration the full implementation of a set of milestones agreed in April.
This is the second tranche of the total EUR 8.3 bln instalment approved by the Eurogroup following the conclusion of the fourth review mission of Greece’s macroeconomic adjustment programme. After the present disbursement, total EFSF financial assistance for Greece will reach EUR 140.9 bln. One more tranche of 1 bln may be disbursed by the EFSF as part of this 8.3 bln instalment, conditional upon the implementation of a further set of milestones. After this is completed, EUR 1.8 bln will remain available from the EFSF.
“With the implementation of the milestones Greece continues to implement reforms necessary for the rebalancing of the economy,” said Klaus Regling, CEO of the EFSF.