Final Loan Installment to Greece ‘in the Coming Days’

The European Stability Mechanism (ESM) said in a press release on Thursday that Greece’s fifth and final loan installment from its adjustment program will be disbursed “in the coming days.”

The ESM said its board approved on Wednesday the supplemental memorandum of understanding with Greece, following the completion of national parliamentary procedures and the European Commission signed it on behalf of the ESM.

On Wednesday German lawmakers approved the last bailout installment for Greece in the sum of 15 billion euros.

The vote took place at a special sitting of the German Parliament that was in session during the parliamentary summer break.

Germany’s approval comes just weeks after the country blocked releasing the last tranche following the Greek government’s announcement to extend a sales tax discount on islands impacted by the migrant crisis.