Greece to get bridge loan in time for Monday ECB payment

RUSSELS: A senior European Union official says a way has been found to get Greece more than 7 billion euros ($7.6 billion) in short-term cash.

Valdis Dombrovskis, the EU Commission's vice president for the euro, said Friday the 28-country bloc has approved 7.16 billion euros of bridge financing for Greece and that the money will come from funds in the European Financial Stabilisation Mechanism.

In a tweet, Dombrovskis said the money should reach Greece by Monday.

Greece has a 4.2 billion-euro payment due to the European Central Bank on Monday.

Without the so-called bridge financing it would not have been able to make the payment.