Greece’s international creditors are ready to pay out 12 billion euros ($12.9 billion) in much needed bailout funds and bank aid, Eurogroup chief Jeroen Dijsselbloem said on Tuesday.
“This is good news,” Dijsselbloem said in a statement, adding that the funds would be paid once the Greek parliament adopts fresh reforms on Thursday.
Athens earlier announced a deal for the long-delayed payment of two billion euros in bailout funds and ten billion euros for the recapitalisation of Greek banks that shut during the crisis.
The tranche is part of a three-year, 86-billion-euro ($93-billion) EU bailout that Greece accepted in July to save it from saved it from crashing out of the eurozone.
But the deal came with strict conditions, with Athens having since adopted a number of the unpopular reforms but creditors demanding that it should do still more.
The agreement for the latest cash covers streamlining home foreclosures, which the government was reluctant to accept in order to ensure a safety net for more vulnerable households.
“We have reached agreement on everything, including the 48 additional measures” that should allow the payout on Friday, Finance Minister Euclid Tsakalotos told reporters after marathon talks.
Dijsselbloem, the Dutch finance minister, said that “substantive agreeement has been reached on all outstanding issues” following a discussion of eurozone officials on Tuesday.
“Legislation will be adopted in Greek parliament on Thursday,” he said.
“Upon the completion of the agreed conditionality and the implemented legislation, the Eurogroup stand ready to support the disbursement,” he said.
Greece’s creditors are set to releas a further one-billion-euro tranche by the end of the year as Athens continues to pay off its huge government debt.