The Board of Directors of the European Stability Mechanism (ESM) has approved the disbursement of the 800 million euro sub-tranche for the repayment of arrears to the State. The release of funds follows the positive appraisal of the Institutions regarding the clearance of arrays to the State. This is the remaining amount of the third tranche of the ESM program, which was approved in July 2017 and amounts to 8.5 billion euros. ESM Managing Director Klaus Regling stressed that Greece has exceeded the target specified in the program, “which will positively affect the country’s economy”.

Greece has received from the ESM an aid amounting to 40.2 billion euros in total, out of the 86 billion euros provided under the current program. According to the ESM announcement, “the current program for Greece will be concluded in August 2018”.

 

Translation: Eleni Gogou