Eurogroup’s Mario Centeno welcomes ESM’s decision to disburse loan tranche to Greece

Mario Centeno, Portugal's Finance Minister and newly elected President of the Eurogroup, holds a news conference at the European Council headquarters in Brussels, Belgium, December 4, 2017. REUTERS/Yves Herman

Eurogroup President Mario Centeno welcomed the decision of the European Stability Mechanism (ESM) to approve a 6.7 billion euros loan tranche to Greece on Tuesday, with a message on Twitter.

Centeno, who also serves as ex officio chair of the ESM board, said, “I welcome the #ESM Board of Directors decision on the disbursement of E6.7 billion loan tranche to #Greece. A chunk of the funds will be pumped into the Greek economy and will help Greece build up its cash buffer. That’s good news.”

“The tranche will be used for debt service, domestic arrears clearance and for establishing a cash buffer,” ESM said in a statement on Tuesday.