Greece step forward towards getting a bail out help from Europe and might get it  in early July following further talks in the next few weeks on Athens' economic programme, the EU, ECB and IMF said on Friday.

The Greek government will create an independently managed privatization agency, they said in a joint statement.

The statement concluded a one-month inspection of Greece by European Commission, International Monetary Fund and European Central Bank officials.

Greece had achieved significant progress but fiscal and structural reforms had to be stepped up, the statement said. The Greek government was committed to an ambitious medium-term budget plan, they added. Greek liquidity remains tight but policies are in place to ensure it is adequate for banks, they said.

Aid for Greece needs to be approved by euro zone finance ministers and the IMF's executive board before it can be released to Greece.

( Source: Reuters )