The release of a sub-tranche of one billion euros of loans to Greece will be on the agenda when the European Stability Mechanism (ESM) Board of Directors meets on Friday, June 8. The meeting will examine whether Greece has made sufficient progress in clearing arrears, based on a report drawn up by the institutions, and then decide whether to release the remainder of the fourth tranche of financial assistance to Greece.
“A satisfactory assessment under the terms of the fourth tranche of financial assistance to Greece would pave the way for the Board of Directors to consider the release of the remaining one billion euros earmarked for arrears clearance under this tranche,” an ESM announcement on the draft agenda said.
On March 27, the ESM approved the fourth tranche of financial assistance to Greece amounting to 6.7 billion euros, including the release of 5.7 billion euros for debt servicing needs, arrears clearance and for building up a cash buffer.
