Eurozone lends 7 bn euros bridging loan for Greece

Athens (IANS) Eurozone ministers on Thursday agreed to give Greece a 7 billion euro (over 7 billion dollars) bridging loan from an EU-wide fund to keep its finances afloat until a bailout is approved, BBC reported.

The loan is expected to be confirmed on Friday by all European Union (EU) member states.

In a separate development, the European Central Bank (ECB) agreed to raise emergency funding to Greece for the first time since it was frozen in June.

The decisions were made after Greek parliamentarians passed tough reforms as part of a eurozone bailout deal.

It means Greek banks, which have been closed for nearly three weeks, could reopen in a few days.

According to Greek media, banks are preparing to reopen on Monday, although credit controls will remain in place.

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