1 bln for Greece

Financial Mirror (Cyprus) - - FRONT PAGE -

The Euro­pean Fi­nan­cial Sta­bil­ity Fa­cil­ity (EFSF) ap­proved on Mon­day dis­burse­ment of 1 bln eu­ros to Greece, tak­ing into con­sid­er­a­tion the 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.

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