The euro zone's temporary bailout fund, the European Financial Stability Facility (EFSF), will contribute €109.1 billion to the second Greek bailout after covering the costs of the Greek debt swap, the EFSF's chief executive Klaus Regling said.

The International Monetary Fund (IMF) will contribute €28 billion on top of the €109.1 billion, which the Fund will pay to Greece over four years, rather than the three years envisaged in the euro zone financing plan.

The €109.1 billion figure includes €48 billion that the EFSF will provide, in the form of its own bonds, to recapitalise Greek banks, over the next few weeks, Mr Regling told several international news agencies.

"That means €61 billion is left for normal programme financing," he said.

The EFSF figure does not include the €30 billion that the euro zone has provided as a sweetener for investors in the privately held debt restructuring, or the €5.5 billion of repayment of accrued interest.

Mr Regling said the EFSF has provided €26.6 billion of the sweetener for investors holding debt governed by Greek law.

"Once the debt exchange offer has been completed on Greek sovereign bonds issued under international law and Greek corporate and municipal bonds, guaranteed by the Greek state, the amount of the PSI (private sector involvement) contribution could increase to a total of €30 billion," Mr Regling said.

Investors holding Greek bonds issued under international law have until March 23rd to accept or reject a debt swap offer already widely accepted by those holding Greek-law bonds.

The EFSF, which has a total lending capacity of €440 billion thanks to guarantees from euro zone governments, has issued six-month bills worth €4.6 billion to repay accrued interest on Greek debt out of the €5.5 billion total. If holders of Greek debt under international law also decide to accept the debt swap, they will get the remaining €900 million.

The second bailout for Greece, financed by the EFSF, comes on top of the fund's commitments to Ireland and Portugal, the two other euro zone countries that have been cut off from the markets and need euro zone loans to avoid bankruptcy.

"Overall the EFSF has committed €192 billion for the three programmes of Ireland, Portugal and Greece. This leaves €248 billion of uncommitted resources," Mr Regling said.

Under a preliminary funding plan, which is subject to market conditions, the EFSF expects to raise a total of €8.1 billion for Ireland in 2012 and €2 billion in 2013.

For Portugal, the EFSF wants to raise €13.9 billion in 2012, €3.6 billion in 2013 and €1.7 billion in 2014.

To service the Greek programme, the EFSF's preliminary funding plan envisages €32.2 billion in 2012, €32.3 billion in 2013 and €32.1 billion in 2014.

Next week, the fund may issue its longest bond so far of between 20 and 30 years in maturity in an auction up to €1.5 billion, depending on market conditions.

The EFSF also plans to sell €2 billion worth of six-month bills on March 20th and is considering the sale of a benchmark five-year bond on March 22nd.