European Union finance ministers have given final approval to a multi-billion dollar rescue package for Greece, if the debt-hit country decides it needs it.
The plan is designed to reassure financial markets and prevent Greece from going bankrupt.
The 16 eurozone nations will fund up to 30 billion euros in emergency loans.
Greece has to find around 11.5bn euros by next month to meet its financial obligations, the BBC reorts. The country's total debt stands at nearly 300bn euros.
This loan offer means Greece would not have to rely on raising funds in financial markets.
Luxembourg Prime Minister Jean-Claude Juncker, speaking for eurozone finance ministers, said there were no elements of subsidy in the loan proposal.
He also said that the eurozone countries had not decided to activate the loans, as this would depend on a decision by the Greek government.
