LUXEMBOURG - The European Stability Mechanism (ESM) authorised on Monday the disbursement of a further tranche of emergency loans to Greece worth 2 billion euros after Athens met all the necessary conditions. “This decision follows the Greek government’s completion of the first set of milestones,” the euro zone bailout fund said in a statement. “The disbursement approved today will primarily be used for debt service, as well as for arrears clearance and co-financing projects funded by EU structural funds.”