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Portugal has received over 70% of troika loan

Within little over a year, Portugal has already received €57.1 billion, almost three-quarters of troika’s €78 billion bailout fund.

The sum, representing 73.2% of the total loan, has been delivered to Portugal over the past year, since it signed the deal with the European Central Bank (ECB), International Monetary Fund (IMF) and the European Commission (EC), known simply as troika.

According to a statement released by the Portuguese Treasury Management and Public Credit Institute (IGCP) on July 25, Portugal has also received some €2.6 billion from the European Financial Stability Fund (EFSF) as part of the fifth tranche installation of the loan and a further €4.2 billion is also expected, mainly from the IMF.

Of the €57.1 billion already received, €12 billion was set aside exclusively for banking sector recapitalisation.