Greece To Receive EUR 2.8 B Tranche Under Third Bailout Programme

World » EU | October 25, 2016, Tuesday // 16:49
Bulgaria: Greece To Receive EUR 2.8 B Tranche Under Third Bailout Programme BGNES

Euro Zone representatives have announced that they have approved another EUR 2.8 B in financial assistance to Greece, reported France Presse.

The decision taken on Tuesday is a sign of the stable progress of reforms in the country, explained the Managing Director of the European Stability Mechanism Klaus Regling, reported BNR.

Regling pointed out the improvements in the pension system, the management of banks and collectability of taxes as the main achievements of the Greek authorities. Regling forecast growth of the Greex economy in 2017.

Until now, Athens has received nearly EUR 32 B out of the EUR 86 B under the financial assistance programme negotiated with the Eurogroup in July 2015.

The new EUR 2.8 B loan will includeEUR 1.1 B for servicing the Greek debt and EUR 1.7 B for covering outstanding payments to local suppliers.

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Tags: GREeece, bailout, euro zone, Eurogroup, European Stability Mechanism, Regling
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