Greece receives first tranche of the 26 bln euros
- Written by E.Tsiliopoulos
Greece on Thursday received the first tranche of the 26 billion euro funds under the new loan agreement between Greece and its partners.
This amount consists of: 1) The amount of 10 billion euros in the form of the EFSF bonds that are deposited in a special account and will be used to recapitalize banks 2) The remaining 13 billion euros paid in cash, of which 12 billion euros were earmarked to repay the country's debt obligations to the European Central Bank (ECB) and the International Monetary Fund (IMF). 3) The remaining 1 billion euros will be allocated for the payment of overdue obligations of the Greek government to the private sector.
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