BUSINESS

ESM board to decide on Greek loan tranche on Friday

TAGS: Economy

The board of the European Stability Mechanism (ESM) will decide on Friday whether to disburse the remaining subtranche of its loan to Greece, totaling one billion euros, according to the ESM's draft agenda on Wednesday.

ESM said the board will examine the institutions’ assessment of Greece’s progress in arrears clearance. The funds released will be used to clear state arrears.

On March 27, the Board of Directors approved the fourth tranche of financial assistance to Greece amounting to 6.7 billion euros, including the release of 5.7 billion euros for debt servicing needs, arrears clearance and for the building up of a cash buffer under this tranche. 

Online