BUSINESS

Eurozone officials approve release of 1-billion-euro loan tranche

Eurozone officials on Wednesday approved the disbursement of another 1 billion euros in rescue loans to Greece with the money expected to be dispensed by Thursday.

The sum, which was approved by the Euro Working Group after the government made good on a series of outstanding reforms pledged to the troika, brings the total financial assistance extended to Greece by the European Financial Stability Facility to 141.8 billion euros.

The 1 billion euros is the last slice of a tranche of 8.3 billion euros approved at last April's Eurogroup summit in Athens.

Another 1.8 billion euros in outstanding funds -- from Greece's second loan agreement with international creditors -- remains to be disbursed, most likely in the fall following the troika's next economic review.

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