The board of directors of the European Stability Mechanism (ESM) will meet on Friday while the Eurozone Finance ministers, who are the governors of ESM, will be in Luxembourg on Thursday for the ESM governors' annual meeting.
 
They are to sign off on an amended memorandum of understanding (MoU) on the bailout for Greece after Athens recently delivered on all agreed reforms.
 
The approval of the updated MoU will pave the way for a decision by the ESM's board of directors, which consists of Eurozone deputy finance ministers or senior officials- on Friday morning to release the money early next week.
 
The 7.5 billion euros are the first part of an overall 10.3 billion euros tranche that Greece is to get under an agreement reached by Eurozone Finance ministers in May. The remaining 2.8 billion euros are to be paid out in September, also attached to several prerequisites that Greece will have to fulfill.
 
Meanwhile, on Wednesday Greece raised 1.3 bn euros from a T-bill auction.