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Greece to get $10.9 billion loan slice in April: Eurogroup

Published on Apr 1, 2014 6:46 PM
 
A police officer stands in front of the Zappeion during an European Union Finance Ministers informal meeting in Athens on Tuesday, April 1, 2014. Greece will receive 6.3 billion euros (S$10.9 billion) from its pending EU bailout fund at the end of April, Eurogroup chief Jeroen Dijsselbloem said on Tuesday. -- PHOTO: REUTERS

ATHENS (AFP) - Greece will receive 6.3 billion euros (S$10.9 billion) from its pending EU bailout fund at the end of April, Eurogroup chief Jeroen Dijsselbloem said on Tuesday.

“A first tranche of 6.3 billion euros at the end of April will allow Greece to meet its debt servicing needs in May,” Dijsselbloem said during a Eurogroup meeting in Athens.

He added that two more slices of 1 billion euros will be disbursed in June and July, noting that the release was tied to Greek progress on pledged reforms.

Greece was first bailed out by the EU, the IMF and the European Central Bank with 110 billion euros in 2010.

 
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