BRUSSELS (Sputnik) — Earlier, according to the draft agreement obtained by media, the Eurozone finance ministers estimated that a new bailout program for Greece could total 86 billion euros ($96 billion).
The source added that the loans from Greece's international creditors will be granted within three years.
Greece is struggling to repay $270 billion it owes to the European Central Bank, the IMF and eurozone countries.
On Thursday, the Greek government submitted a reforms plan, which includes significant spending cuts, to the international creditors.
In case the agreement on additional financial assistance is reached, Greece must adopt pension reform and taxation laws by Wednesday, July 15.
Greece Agrees on IMF Participation in New Credit Program
The International Monetary Fund may participate in the third bailout aid to Greece, as well as the European Stability Mechanism, a European diplomat said Monday.
Earlier, Greek Prime Minister Alexis Tsipras said the agreement on additional financial assistance will be exclusively European, while the IMF will contribute only technically.
According to the source, Tsipras agreed to the IMF participation on any terms.
The European leaders are currently discussing the possibility and terms of additional financial aid to Greece.
Earlier on Sunday, the Eurogroup came up with a draft document, which includes a recommendation to the leaders of the European Union to propose Greece to temporarily exit the Eurozone in case the sides fail to reach agreement on the bailout program.