Greece repaid on Thursday 2.5 billion euros to the European Financial Stability Facility (EFSF), using proceeds from the re-privatization of Greek banks that had previously received support from the Hellenic Financial Stability Fund (HFSF).
“This repayment is yet another indication of the progress Greece has made in strengthening its economy and its financial system. The proceeds from the re-privatization of the banks are a tangible reflection of the recovery of the Greek banking sector after the crisis. The use of part of these proceeds to repay the EFSF reduces Greece’s public debt and sends a message of confidence to the market. This is a positive development for Greece,” said the chief executive officer of the EFSF, Pierre Gramegna.
On September 1, Greece informed the EFSF and the European Stability Mechanism (ESM) of proceeds amounting to approximately 4 billion euros linked to the HFSF and held by the Hellenic Corporation of Assets and Participations (HCAP, following its merger with the HFSF).
As a consequence of the repayment, the EFSF’s funding programme for 2026 was reduced to the 16.5 billion euros that have already been issued during the current year.