The European Stability Mechanism will disburse the first tranche of funds from Greece's bailout loan on Thursday, the Greek finance ministry said after the ESM board approved a rescue of up to 86 billion euros on Wednesday. Athens will receive 13 billion euros on Thursday morning, the ministry said, of which about 12 billion euros will be used to pay down debt, including an earlier bridge loan and money owed to the European Central Bank. "Nearly one billion euros will be made available to the Greek state, a sum that can be used to pay arrears," the finance ministry said in a statement.
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