EFSF disburses €4.2 billion to Greece
Luxembourg – The European Financial Stability Facility disbursed today €4.2 billion to Greece. This follows the approval by the EFSF Board of Directors on 15 May. The funds were transferred in cash and the maturity of the loan is 17 May 2043.
Today’s disbursement is the first sub-tranche of an EFSF instalment which amounts to €7.5 billion. The disbursement of the second sub-tranche of €3.3 billion will be made in June 2013, linked to the implementation of the milestones in the Memorandum of Understanding (MoU) as agreed between Greece and the Troika institutions. Greece has now received €120 billion of financial assistance from the EFSF out of the total committed amount of €144.6 billion.
“The disbursement to Greece is possible because conditionality has been met”, Klaus Regling, EFSF CEO said. “I am happy that Greece continues its reform process.”