Euro Area Said to Plan $12 Billion for Greece After Review
- Loan would cover Greek financing needs until end of November
- Bloc’s finance chiefs discuss disbursement in Brussels Tuesday
Greek Prime Minister Alexis Tsipras speaks with Greek Finance Minister Euclid Tsakalotos.
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Greece’s European creditors are preparing to disburse 11 billion euros ($12.3 billion) once the nation successfully completes a review of its bailout program.
The funds will be used to clear arrears and to cover debt servicing needs, including a 2.3 billion-euro payment scheduled to the European Central Bank in July, according to a draft of the European Commission’s compliance report for the Greek economic program seen by Bloomberg News.