Germany will lend Greece 5.05 billion euros: report

5th July 2011, Comments 0 comments

Germany will contribute 5.05 billion euros ($7.3 billion) to a fifth slice of aid for Greece provided by the European Union and International Monetary Fund, a press report said on Tuesday.

"By mid July, Greece is to receive 12 billion euros in loans, including 5.05 billion euros in German credits," the popular daily Bild said, without identifying its source.

Payment is to be made by the state-owned bank KfW in response to a request from the government, the newspaper added.

Berlin will thus provide more than half of the EU's share, which amounts to 8.7 billion euros, while the IMF is to lend Athens another 3.3 billion euros.

Eurozone finance ministers agreed Saturday to grant Greece a fifth loan from a total EU/IMF package worth 110 billion euros after Greek lawmakers approved more austerity measures, and the IMF is expected to follow suit on Friday.

© 2011 AFP

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