EFSF disburses €2.5 billion to Greece
Luxembourg – The European Financial Stability Facility (EFSF) disbursed today €2.5 billion to Greece for budget financing and debt servicing needs. The funds were transferred in cash and the loan has a maturity of 35 years (maturing in 2048). “Following the implementation of all 22 prior actions by Greece, the EFSF Board of Directors decided that the €2.5 billion could now be disbursed”, EFSF CEO Klaus Regling said.
This EFSF disbursement of €2.5 billion constitutes the first tranche of the fifth EFSF installment amounting to €3 billion. Greece has now received from the EFSF €133.04 billion out of the total committed amount of €144.6 billion.
In parallel €1.5 billion stemming from the Securities Markets Programme (SMP) income of national central banks are also transferred today by the European Stability Mechanism (ESM) to the segregated account in the Bank of Greece. According to Klaus Regling, the ESM Managing Director, “the transfer of €1.5 billion in SMP profits shows the additional solidarity of the euro area Member States with the Greek people who are making considerable efforts to overcome the crisis”.