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EFSF Approves 1 Billion Euro Disbursement to Greece

Euro in Greek flagEFSF issued the following press release on Monday, announcing the disbursement of a 1 billion euro loan tranche to Greece:
“The Board of Directors of the European Financial Stability Facility (EFSF) approved on Monday the disbursement of 1 billion euros to Greece, taking into consideration the full implementation of a set of milestones agreed in April 2014.
This is the second tranche of the total 8.3 billion euro 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 140.9 billion euros. One more tranche of 1 billion euros may be disbursed by the EFSF as part of this 8.3 billion euro instalment, conditional upon the implementation of a further set of milestones. After this is completed, 1.8 billion euros will remain available from the EFSF.
Klaus Regling, CEO of the EFSF said: ‘With the implementation of the milestones Greece continues to implement reforms necessary for the rebalancing of the economy.'”
(source: ana-mpa)

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