Eurogroup endorses €8.3bn Greek bailout tranche

Eurozone finance ministers on Tuesdayapproved the next tranche of bailout money for Greece, saying that while it hadmade great strides in implementing economic reforms, more still needed to be done."I would like to acknowledge the great efforts made by Greece over the past fouryears to repair the public finances and build a more sustainable model for growth,"dpa quoted EU Economy Commissioner Olli Rehn as saying.Greece is to receive a new bailout tranche of 8.3 billion euros (11.4 billion dollars) inthree installments in the coming months, said Dutch Finance Minister andEurogroup chair Jeroen Dijsselbloem.An initial disbursement of 6.3 billion euros will come at the end of April, which will"allow Greece to meet its debt servicing obligations in May," Dijsselbloem said aftera meeting of eurozone finance ministers in Athens.