Greece will receive first EU loans tomorrow, official says
Greece will receive the first installment of emergency European Union loans tomorrow, one day before €8.5bn of bonds come due, a Finance Ministry official said by phone today.
The EU’s first payment of €14.5bn will arrive tomorrow, said the official, who declined to be identified. The Internatoinal Monetary Fund, which is participating in the bailout, made its first contribution of €5.5bn last week.
The loans will cover the country’s financing needs for May and June, the official said.