ES has adopted the third Greece Assistance Program with a volume of up to € 86 billion

The Board of Directors of the European Stabilization Mechanism approved in full the third international program for Greece assistance up to € 86 billion, the vice-president of the European Commission Valdis Dombrovskis reports on Twitter.

As stated in the statement of the EU, following the results of the television conference of the board of directors of the Stubfond, which took place on August 19, these funds will be used to cover budget expenditures, removing debts, creating the necessary liquidity reserves and recapitalization of the banking sector.

TASS notes that the exact volume of financial assistance through the ECM will depend on the decision of the International Monetary Fund for participation in this program, which will be adopted after the first analysis of the implementation of the program in October 2015, as well as from the successes of Athens in the implementation of reforms.

The total volume of the first tranche in the framework of the third assistance program will be € 26 billion - it will be transferred until October. The first payment of € 13 billion can be made today.

The Euro group on August 14 approved a new Greece Assistance Program in the amount of € 86 billion, designed for three years. In exchange for this, Athens need to carry out reforms, regular monitoring of the budget status and transfer state -of -50 bills to a special fund in the management of which will take part in the European Commission.