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EFSF has 236 bln euros left of 440-bln fund-German FinMin report
July 25, 2012 / 6:09 PM / 5 years ago

EFSF has 236 bln euros left of 440-bln fund-German FinMin report

BERLIN, July 25 (Reuters) - The European Financial Stability Facility (EFSF) still has 236.7 billion euros left in its 440-billion euro rescue fund, according to a German Finance Ministry document obtained by Reuters on Wednesday.

The report said the euro zone’s temporary bailout fund has disbursed a total of 100.7 billion euros in loans of the 188.3-billion euros earmarked for Greece, Portugal and Ireland.

The report prepared for a parliamentary budget committee said 87.6 billion euros of that 188.3-billion are still to be disbursed to these countries by the EFSF.

Greece has received the most so far, 73.9 billion euros, with Portugal having already received 14.8 billion euros and Ireland 12 billion euros.

Greece is set to receive another 70.7 billion euros by 2014 from the EFSF while Portugal is due to receive another 11.2 billion euros by 2014 and Ireland will receive a further 5.7 billion euros by \2013.

The EFSF is backed by guarantee commitments for a total of 780 billion euros and has a lending capacity of 440 billion euros.

The EFSF borrows money on the markets, thanks to euro zone government guarantees, to lend it on to euro zone sovereigns cut off from bond markets.

Germany has guaranteed a total of 211 billion euros for the EFSF, of which 54.2 billion euros are for funds already disbursed. (Reporting By Gernot Heller; writing by Erik Kirschbaum and Michelle Martin; editing by Ron Askew)

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