EZ creditors grant Greece fresh bailout funds

(MENAFN) Greece has won a vital batch of bailout funds from global creditors succeeding agreement among the 19 Eurozone finance ministers and can start looking forward to debt relief in the future.

Consequently, after the ministers approved Greece's recent reform efforts, they decided to disburse a total of USD11.5 billion in funds to see Athens through the following months, based on recent reports.

The first disbursement of USD8.4 billion could already begin by the middle of next month with other disbursements coming after the summer, pending positive feedback from European institutions.

Additionally, the breakthrough came after 11 hours of tortuous talks, but considering the bad blood between Athens and its creditors over the past years, this deal was seen as a huge step forward.