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ESM – €100 million to support Cyprus

Constantinos Philippides
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The Executive Board of the European Stability Mechanism (ESM) today approved the disbursement of the tranche of 100 million euro in Cyprus.

As the ESM, today’s decision was made following the adoption of the updated Memorandum of Understanding by the Executive Council of the ESM and the positive evaluation of the second quarterly review of macroeconomic adjustment program in Cyprus.

With today’s release the total amount of assistance from the ESM to Cyprus reaches 4.6 billion, while the balance remaining to 9 billion of total support is scheduled to be paid in quarterly disbursements until 2016.

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