The Eurogroup Has Approved The Release Of The Fourth Tranche Of Financial Assistance To Cyprus

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The Eurogroup of Eurozone finance ministers has approved the release of the fourth tranche of financial aid to Cyprus by international creditors.

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The Eurogroup of Eurozone finance ministers has approved the release of the fourth tranche of financial aid to Cyprus by international creditors. This was generally expected following the successful completion of the latest progress review by the "troika" of international lenders, which took place in February.

A statement issued after the Eurogroup meeting confirmed that the Eurogroup had endorsed the disbursement of the next tranche of financial assistance to Cyprus and said that the European Stability Mechanism is scheduled to disburse €150 million by the beginning of April. A further €86 million is due to be released by the International Monetary Fund.

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