The Eurogroup has approved a third bailout tranche for Cyprus of 100 million euro before the end of 2013.
“The Eurogroup endorsed, in principle, the disbursement of the next tranche of financial assistance to Cyprus,” the Eurogroup statement said.
“The IMF Executive Board is scheduled to decide on the disbursement of EUR 86 million on 20 December” the statement added.
Carrying out a privatization program is one of the key conditions set by the Troika of international lenders – the European Commission, the European Central Bank and the International Monetary Fund.
“In particular, we welcome the firm commitment of the Cypriot authorities to strengthen the privatisation plans as agreed with the Troika institutions,” the statement said.
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