ECONOMY

Disbursement of aid to Greece expected shortly, says EU’s Moscovici

disbursement-of-aid-to-greece-expected-shortly-says-eu-amp-8217-s-moscovici

International creditors are expected to disburse locked aid to Greece and its banks shortly after the Greek parliament ratified reforms agreed with its lenders, European Economics Commissioner Pierre Moscovici said on Tuesday.

“We expect the finalization of the process to take place shortly following the swift adoption of necessary legislation by the Greek parliament on Thursday,” Moscovici told a news conference in Brussels.

“This would allow the institutions to finalize their assessment of compliance paving the way for member states to take necessary decisions on disbursements,” Moscovici added, noting that this would entail the unlocking of 2 billion euros ($2.15 billion) aid and about 10 billion euros in recapitalization aid to the country's four main banks.

“This is a good day,” Moscovici said.

[Reuters]