Greece to Receive Over $900Mln From EU Funds Next Week

The European Union will disburse 800 million euros ($913 million) to Greece next week to boost jobs and economic growth in the country, the European Commission announced on Thursday.

MOSCOW (Sputnik) — Greece is set to receive 35 billion euros from the EU between 2014 and 2020.

"With the entry into force of the Commission's proposals the EU funds can begin flowing to Greece, starting with a payment of €800 million next week," Vice-President for the Euro and Social Dialogue Valdis Dombrovskis was quoted as saying in the EU commission statement.

The Commission expressed its readiness to provide Greece every technical assistance to make the most of the EU funds, according to the statement.

Athens owes more than $270 billion to its main international creditors, the International Monetary Fund, the European Central Bank and some eurozone nations. The country's massive debt sparked speculation about Greece's possible exit from the eurozone.

In August, following lengthy talks, the Eurogroup approved a new bailout plan for Athens that would guarantee the country some 86 billion euros in new financing over the next three years in exchange for reforms and austerity measures.