Bloomberg: Greece is set to receive 11 billion euros upon successful completion of the bailout program review

The Greek government is set to receive 11 billion euros upon successful completion of the bailout program review, claims a Bloomberg report. The report cites a draft of the European Commission’s compliance report.

These funds, Bloomberg further explained, will be used to clear arrears and cover debt servicing needs, which includes a 2.3-billion-euro payment towards the ECB in July.

According to the European Commission’s draft, Greece will be called to achieve a primary surplus worth 0.5% of the GDP in 2016, 1.75% in 2017 and 3.5% in 2018. Greece will then have to maintain a 3.5% GDP primary surplus for a decade, which will gradually drop to 1.5% in 2040.