Eurozone finance ministers have approved the disbursement of a 2.8-billion-euro sub-tranche of loans to Greece in two installments, Eurogroup President Jeroen Dijsselbloem said on Monday.
He said the four institutions had confirmed completion by Greece of 15 open milestones and “enables us all to close the first review.” Greece had undertaken important reforms, he added, “and this progress enables the European Stability Mechanism (ESM) to disburse 1.1 billion remaining out of the second tranche.
“There’s also been substantial progress on arrears clearance in July and August…technical work will continue to gather the September data. This always takes a number of weeks to complete, this cannot be helped, it cannot be done faster. We hope and presume that before the end of October those data are available. They will then be assessed by the institutions and on that basis, the ESM could decide on the disbursement of 1.7 billion euros. This is specifically for the clearance of arrears,” he said.