EFSF Board of Directors approves €3.7 billion disbursement to Portugal
Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) approved today the disbursement of €3.7 billion to Portugal. This follows the positive assessment of the combined eighth and ninth quarterly reviews of Portugal’s economic adjustment programme.
Klaus Regling, CEO of the EFSF said: “After a couple of years of intense adjustment and tremendous efforts by its people, Portugal reaches now the decisive phase towards regaining market access, the ultimate goal of the EFSF programme. Given the remarkable progress so far, this goal is within reach”.
After the present disbursement, €1.2 billion in financial assistance will remain available to Portugal. The EFSF financial assistance programme for Portugal will have been completed by the middle of 2014.