ESM approves of 6.7-bln€ bailout tranche to Greece

Tuesday, 27 March 2018 15:24
SOOC/Alexandros Michailidis

The ESM's board of directors on Tuesday approved the disbursement of a 6.7-billion-euro tranche to Greece, as part of the ongoing bailout program, according to a press release by the Eurozone's emergency fund.

Specifically, 5.7 billion euros will be released on Wednesday, with the remaining one billion euros to be disbursed on May 1, conditionally linked with the covering of arrears owed by the Greek state to the private sector.

Of the 5.9 billion euros, 3.3 billion euros is aimed to cover maturing debts; 1.9 billion euros for a "cash buffer", and 500 million euros for covering arrears.

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