Economics

Luxembourg-based ESM approves €2.8 billion in bailout funds for Greece

Eurozone officials via Luxembourg-based ESM announced Tuesday they have approved 2.8 billion euros for Greece from its huge third bailout after the cash-strapped nation delivered the needed reforms.

25.10.2016

(AFP) Eurozone officials announced Tuesday they have approved 2.8 billion euros for Greece from its huge third bailout after the cash-strapped nation delivered the needed reforms.

Following the latest disbursement approved by the European Stability Mechanism (ESM), Greece will have received 31.7 billion euros of the 86-billion-euro bailout granted in July 2015, its third since being engulfed by debt in 2010.