Ireland’s latest bailout tranche agreed

The European Commission has formally approved payment of the next €5.8bn tranche of Ireland’s bailout fund — bringing to €32.2bn the amount of aid the country has received since the programme began two years ago.

The approval follows the latest joint review by the European Commission, ECB and IMF troika that took place in Dublin in January.

The commission yesterday reiterated “that programme implementation by Ireland remains strong and on track, while some challenges remain”.