19-May-2010 8:21 AM

Greece given EUR14.5bn EC loan

Greece received (18-May-2010) a EUR14.5 billion loan from the European Commission via the European Central Bank (ECB) under its three-year economic and financial policy programme. The loan is comprised of contributions from 10 European countries. Combined with the EUR5.5 billion received from the International Monetary Fund earlier this week, this makes up the first tranche of the EUR110 billion support package Greece has agreed to with its European partners, the ECB and the IMF. These disbursements cover the immediate and short-term financing needs of the Hellenic Republic. [more - Greek Finance Ministry] [more - European Commission]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More