First ESM installment to be disbursed on Thursday

The disbursement of the first installment of the loan from the European Stability Mechanism (ESM) will be made on Thursday morning, it was announced on Wednesday, following the approval of the aid program by the eurozone’s finance ministers earlier in the day.

The installments totals 13 billion euros, of which about 12 billion will be directed into a special account used for the repayment of Greece’s debt towards the ECB, IMF, etc.

About 1 billion euros will be given to the Greek state which will be used, among others, for the repayment of arrears.