The 12 billion euros 5th tranche of the 110 billion euro EU-IMF bailout loan to Greece will be disbursed in early July, provided that approval of the Greek government's Medium-Term fiscal program by the Hellenic parliament has been completed, eurogroup president Jean-Claude Juncker said in the early morning hours of Monday after a eurogroup meeting in Luxembourg.

Juncker said that progress was also made regarding the participation of the private sector in a second assistance program for the Greek economy, but added that a number of issues were still outstanding.

The eurozone chief also said that private sector participation should be voluntary and without pressure from the governments.

Juncker further said that the eurozone countries sought of the Greek government to complete the legislative procedure regarding the Medium-Term fiscal program, noting that Greece's partners in the eurozone were also awaiting the vote of confidence in the (newly-reshuffled) government of Greece.

The eurogroup president also reiterated the need for the two mainstream parties in Greece (ruling PASOK and main opposition ND) to agree on the implementation of the EU and IMF program for Greece.

According to a statement issued by the eurogroup, approval of the Medium-Term program by the Greek parliament will pave the way to disbursement of the next tranche of the bailout loan to Greece in early July, while the considerable progress achieved over the last year, particularly with respect to fiscal consolidation, was acknowledged by the eurozone ministers.

Regarding the support program for Greece, the eurozone finance ministers decided to define by early July the basic parameters "of a clear new financing strategy".

Also, for the first time in an announcement, the eurogroup made note of the need for political consensus in Greece, noting that the eurozone finance ministers called on all the political parties in Greece to support the fundamental targets of the program so as to ensure its rigorous and expeditious implementation.

Bearing in mind the length, magnitude and nature of the required reforms in Greece, national unity is a prerequisite for success, the announcement concluded.