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Luxembourg – The European Financial Stability Facility (EFSF) disbursed today €2.1 billion to Portugal. The funds were transferred in cash with an average maturity of 20.5 years.

 “As the programme is reaching its final stage, it is paramount that Portugal keeps the pace of reform to ensure a successful exit strategy and the continued support of its European partners” said Klaus Regling, the CEO of the EFSF.

 With today’s disbursement, Portugal has now received from the EFSF €21.1 billion out of the total committed amount of €26 billion.

Luxembourg – The European Stability Mechanism (ESM) disbursed today €1 billion to the Republic of Cyprus, completing the first tranche of the country’s financial assistance programme. The first part of this tranche (€2 billion) was transferred on 13 May 2013. Both disbursements were made in cash and cover fiscal needs and the roll-over of maturing debt.

As decided by the ESM Board of Governors on 24 April 2013, Cyprus will receive financial assistance from the ESM of up to €9 billion during the next three years.

Luxembourg – The European Financial Stability Facility disbursed today €3.3 billion to Greece for budget financing and debt servicing needs. The funds were transferred in cash and the loan has a maturity of 32 years.

This disbursement constitutes the second tranche that completes the fourth EFSF instalment amounting to €7.5 billion. Greece has now received from the EFSF €130.6 billion out of the total committed amount of €144.6 billion. 

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) decided today to extend the maturities of its loans to Ireland and Portugal in the context of their assistance programmes. The average weighted maturity for all loans by the EFSF to Ireland and Portugal will now be extended by up to seven years.

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) held its first annual meeting today at the ESM office in Luxembourg and approved the ESM Annual Report for 2012. The ESM Board of Governors comprises the 17 euro area finance ministers.

Luxembourg – The European Financial Stability Facility disbursed today €1.6 billion to Ireland. The funds were transferred in cash and the loan has a maturity of 29 years (2042).  

With this disbursement, Ireland has now received from the EFSF €14.4 billion out of the total committed amount of €17.7 billion.