European Economic News

Greece Set To Gain Access To EUR 2.5 Bln Aid Tranche On Monday

Eurozone finance ministers approved the payment of next aid tranche to Greece, at a conference call on Friday, after the nation met the conditions set by lenders.

The installment of EUR 2.5 billion will be disbursed on Monday subject to the completion of national approval procedures. The German parliament committee will meet on Monday to clear its portion of contribution.

Greece will also receive EUR 1.5 billion, the profits that the European Central Bank made from the sale of Greek debt.

On Thursday, Greece lawmakers passed the final piece of legislation required to unlock the aid. The parliament passed a new tax procedure code and decided to arrange transfers to the reserve for 4,250 civil servants.

Further, the International Monetary Fund is likely to approve a separate EUR 1.8 billion loan on Monday.

by RTTNews Staff Writer

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