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Greece given EUR14.5bn EC loan

19-May-2010 8:21 AM

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]