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EFSF approves 1 bln euros disbursement to Greece

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(Globalpost/GlobalPost)

BRUSSELS, July 7 (Xinhua) -- The Board of Directors of the European Financial Stability Facility (EFSF) approved on Monday the disbursement of 1 billion euros (1.36 billion U.S. dollars) to Greece, taking into consideration the full implementation of a set of milestones agreed in April 2014.

This is the second tranche of the total 8.3 billion euros installment approved by the Eurogroup following the conclusion of the fourth review mission of Greece's macroeconomic adjustment programme.

After the present disbursement, total EFSF financial assistance for Greece will reach 140.9 billion euros.

"With the implementation of the milestones Greece continues to implement reforms necessary for the rebalancing of the economy, "the CEO of the EFSF Klaus Regling said.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140707/efsf-approves-1-bln-euros-disbursement-greece