04:26 GMT +318 July 2018
Listen Live
    A piggybank painted in the colours of the Greek flag with a 20 euro banknote in it's slot, stands in front of letters spelling the word 'GREECE' in this picture illustration taken in Berlin, Germany June 30, 2015

    European Stability Mechanism Approves $3 Bln Tranche to Greece

    © REUTERS / Pawel Kopczynski
    Europe
    Get short URL
    0 66

    According to reports, European Stability Mechanism approved on Tuesday the disbursement of a 2.8-billion ($3 billion) tranche to Greece.

    MOSCOW (Sputnik) The European Stability Mechanism (ESM) approved on Tuesday the disbursement of a 2.8-billion ($3 billion) tranche to Greece, the ESM said.

    "The Board of Directors of the European Stability Mechanism (ESM) today authorised the disbursement of 2.8 billion [euros] to Greece, which is the remaining amount of the second tranche of ESM financial assistance," it said in a statement.

    ESM Managing Director Klaus Regling said the decision marked a "sign that the Greek people are steadily making progress in reforming their country."

    "The government has completed key milestones in the area of pension reform, bank governance, the energy sector, and revenue collection. It has also taken further steps in making the new privatisation and investment fund operational," Regling said.

    He added that Athens could begin issuing bonds next year if the government continue to implement the reforms under the ESM program.

    Related:

    Greece Expects to Receive $3.14-Bln Tranche From EU on October 10 – Source
    Terrifying Helicopter Crash During Military Training in Greece
    EU Not to Release Additional Tranche for Greece in September
    Tags:
    tranche, European Stability Mechanism (ESM), Greece
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment