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Eurozone bailout fund transfers 13 billion euros to Greece.

Luxembourg, Dhu-AlQa'dah 05, 1436, August 20, 2015, SPA -- An initial payment of 13 billion euros (14.5

billion dollars) has been transferred to the Greek government by the

European Stability Mechanism (ESM), the agency reports, according to dpa.

The payment was part of an initial 26-billion-euro tranche approved

by the ESM and is to be used for further financing needs. The

remaining money will be distributed at a later point, also for

financing needs, as well as to help with bank recapitalization.

"Today's ESM disbursement will allow Greece to meet its urgent

financial obligations," said ESM managing director Klaus Regling. "I

am relieved that after intense negotiations with the Greek government

and approval by our members, all conditions are now in place to make

this disbursement in time."

--SPA

10:17 LOCAL TIME 07:17 GMT

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Publication:Saudi Press Agency (SPA)
Date:Aug 20, 2015
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