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Greece gets green light for 4 billion euro payment

Athens
Adri Aderval | Flickr | Getty Images
Athens

Euro zone officials have approved the transfer of 4 billion euros ($5.3 billion) of funding to Greece and euro zone governments are expected to approve disbursement by Monday, the European Commission said on Friday.

"With the proviso that the national approval procedures are completed, which we expect to happen by Monday, the disbursement can take place," Commission spokesman Simon O'Connor told a briefing, referring to the approval by euro zone governments.

(Read More: Greece Minister: Failure to Meet Bailout Terms Not Our Fault)

The money approved amounted to 4 billion euros, O'Connor said, split between 2.5 billion from the euro zone's temporary bailout fund, the EFSF, and income generated from national central banks' holdings of Greek government bonds.

(Read More: Ex-Greek minister: Greece needs a 40% debt haircut)

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