Europe

Europe

Eurozone finance ministers approve 6th tranche of loans to Greece

21 October 2011 22:22 (UTC +04:00)

Baku-APA. Eurozone finance ministers Friday decided to deliver the 6th tranche of loans to Greece according to the bailout package agreed last year, APA reports quoting Xinhua.

"We have agreed to endorse the disbursement of the next tranche of financial assistance to Greece in the context of the current economic adjustment program," said a statement released by the ministers during a meeting.

Greece is expected to receive the 8 billion euros in the first half of November, pending the approval by the Board of the International Monetary Fund, said the ministers.

To ensure debt sustainability, the ministers said "We will conclude a second economic adjustment program for Greece, with an appropriate combination of additional new official financing and private sector involvement."

The ministers called on the Greek authorities to make further progress with the implementation of structural reforms and the privatization program.