Eurozone's bailout funds were transferring 4
billion euros (5.3 billion dollars) in fresh aid to Greece Wednesday,
after the crisis-battered country fulfilled all the conditions
demanded by its international creditors for the next instalment.
The temporary European Financial Stability Facility (EFSF) disbursed 2.5 billion euros in bailout cash, which is to be used for "budget financing and debt servicing needs."
The eurozone's permanent rescue fund, the European Stability Mechanism (ESM), is providing another 1.5 billion euros stemming from a separate interest-yielding programme that involves the central bank purchases of Greek bonds.
"The transfer ... shows the additional solidarity of the euro area member states with the Greek people who are making considerable efforts to overcome the crisis," ESM Managing Director Klaus Regling said in a statement.
The International Monetary Fund had on Tuesday also given a green light for its contribution to the Greek aid - another 2.3 billion dollars. The Washington-based lender has now issued nearly 11 billion dollars to Greece, while the EFSF has provided 133 billion euros.
The country has already been promised another 1 billion euros from the eurozone in October if it continues to make progress on reforms.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Some California Cities Seeking Water Independence
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Obama Seeks to Stay Neutral in CIA-Senate Conflict
- Will Missing Malaysian Jet Prompt Aviation System Change?
- Natural Gas Discovery Could Lead to Cleaner Fuels