The European Stability Mechanism (ESM) board on Tuesday approved a 6.7-billion-euro loan tranche for Greece, the fourth tranche of ESM financial assistance to Greece. In addition, it approved the disbursement of the first sub-tranche of 5.7 billion euros, ANA reports.
According to an ESM announcement, the decision follows the Greek government’s completion of all prior actions and the subsequent approval of the Supplemental Memorandum of Understanding by the ESM Board of Governors.
The tranche will be used for debt service, domestic arrears clearance and for establishing a cash buffer. The Board also approved an amendment to the Financial Assistance Facility Agreement (FFA) between the ESM and Greece.
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