The Eurogroup gave the green light on Monday for the disbursement of the fourth tranche of the European Stability Mechanism (ESM) program for Greece, totaling 6.7 billion euros, after a meeting of the Eurozone’s finance ministers in Brussels, ANA reports.
The Eurogroup clarified the funding will be paid out in two tranches, the first of which (5.7 bln euros) will be disbursed on February to cover Greece?s debt servicing needs, clear State arrears and support the build-up of the country’s liquidity buffer.
“Following the full implementation of the prior actions and subject to the completion of national procedures, the ESM governing bodies are expected to endorse the supplemental MoU and approve the disbursement of the fourth tranche of the ESM program,” it noted in a press release.
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