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Eurogroup gives green light for €6.7billion disbursement to Greece

The Eurogroup gave the green light for the disbursement of the next bailout installment and set a 100-day course to complete the next round of of completion of the remaining prior actions. 6.7 billion euros will be paid in two installments, with the first amounting €5.7billion expected in the second half of March.

In a statement the Eurogroup said it welcomed the completion of the remaining prior actions by Greece, as required under the third review of its economic adjustment programme.

This paves the way for the release of the fourth tranche of financial assistance available to Greece under the programme from the European Stability Mechanism, once national procedures are complete. The fourth tranche amounts to €6.7billion that will be paid in two installments.

Ministers were also informed of the first mission of the fourth review of the programme, which took place at the end of February.

The Eurogroup expects that Greece will have fulfilled 88 prior actions in the next 100 days, until the Eurogorup meeting of June 21st.

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