Leaders of the 16 eurozone nations have agreed to fund up to 30bn euros (£26bn) in emergency loans for debt-hit Greece, if the country wants the cash.
The price of the loans will be fixed using IMF formulas, and be about 5%. Luxembourg Prime Minister Jean-Claude Juncker, speaking for eurozone finance ministers, said there were no elements of subsidy in the loan proposal.
"The total amount put up by the eurozone member states for the first year will reach 30bn euros," he said.
'Co-financed'
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.
Mr Juncker added that the financing would be "completed and co-financed" by the International Monetary Fund.
However, European Commissioner for Economic and Monetary Affairs Olli Rehn said it would be up to the IMF to reveal its precise share of the loan package.
This loan offer means Greece would not have to rely on raising funds in financial markets.
Greece has to find around 11.5bn euros (£10bn) by next month to meet its financial obligations. Its total debt stands at nearly 300bn euros.
An exact interest rate for Greek loans will only be finalised after Greece formally requests help, something it has not previously done.
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