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Euro zone holds off on 1 billion euro tranche for Greece

Reuters  |  BRUSSELS 

(Reuters) - The euro zone fund ESM decided on Friday to hold off the disbursement of a 1 billion euro loan tranche for to wait for confirmation from it fulfilled the condition of arrears clearance for the release of the money.

An ESM said made satisfactory progress to meet the conditions for the release of the loan but not quite.

"Confirmation from the Greek authorities is still needed that some payments for arrears clearance are fully executed. This is necessary in order to take the decision on the release of the remaining 1 billion euros," the said.

"Therefore the decided today in to postpone its decision on this issue," he said.

The money is available until June 15.

(Reporting By Jan Strupczewski)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 14:53 IST