Greece sees 7.5 billion euros in rescue loans cleared

June 17, 2016 8:49 AM

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Greece sees 7.5 billion euros in rescue loans cleared

ATHENS, Greece – The eurozone's financial crisis resolution authority has authorized the payment of 7.5 billion euros ($8.4 billion) in bailout funds for Greece, part of a total of 10.2 billion euros ($11.5 billion) it approved for the struggling country over the next few months.

The eurozone's European Stability Mechanism said Friday it approved the disbursement after Greece's government completed required reforms, and that the country would use the funds to service its debt and help clear domestic arrears.

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