Eurogroup agrees 8.5 billion euro bailout distribution to Greece

Brusseles, June 16: The Eurogroup agreed to distribute a long-delayed bailout payment worth up to 8.5 billion euros ($9.47 billion) to Greece, the Eurogroup Chief Jeroen Dijsselbloem said in Luxembourg on Thursday.

It marked a major step forward for Greece. Athens was expected to receive the fresh disbursement to cover its current needs, Xinhua quoted Dijsselbloem as saying after the Eurogroup meeting.

The Eurogroup's decision came following Greek lawmakers' approval of fresh measures for the second review of the country's bailout programme, which was composed of an income tax reform broadening the tax base and a pension reform.