GREECE CRISIS: ESM approves first tranche of aid from 26 billion euro – BBC

10:41 MILAN (AFX) – The rescue fund (ESM) has approved the first tranche of aid to Greece by € 26 billion. It said in a statement the same ESM which shows that “the Board has decided to immediately disburse 13 billion Euros to Greece. The disbursement of today and ‘the first part of a sub-tranche of 16 billion Euros that It should be used to finance the budget and the need for ‘debt repayment. The remaining 3 billion euro of this sub-tranche will be disbursed to the most’ latest by the end of November, once Greece has completed the additional priority actions ” . The second sub-tranche of 10 billion euro ‘and’ destined to or liquidiazione potential recapitalization of the banks and will be ‘kept in a special account with the ESM, which can’ be released upon request from Athens and confirmation of the competent authority ‘of banking supervision, and must ‘receive the final go-ahead to further the ESM board. The first

tranche of aid, said the CEO. ESM Klaus Regling,’ allow ‘to Greece to meet its urgent financial obligations with the IMF, the ECB and other needs’ budget. “” I am relieved that after intense negotiations with the Greek Government and the approval of our members, we are now all the conditions to make this payment on time, ” concluded Regling. com / rug laura.ruggiero@mfdowjones.it (end) AFX NEWS 2010: 41 August 2015