The new ELA is approximately €3.3bn higher to cap at €68.3bn ($78bn).
This is considered to be enough to meet the liquidity needs of Greek banks for only one more week, reported Reuters, citing a senior banker.
The central bank of Greece had actually requested an extension of about €10bn, a source told the news agency.
Last Thursday, the ECB had increased the emergency funding available to Greek banks by €5bn to about €65bn.
The emergency funding will give some space to Greece to work out a loan deal with its European lenders.
Greek Finance Minister Yanis Varoufakis told Germany’s broadcaster ZDF: "We should extend the credit programme by a few months to have enough stability so that we can negotiate a new agreement between Greece and Europe."
A Greek government official said that extension of a loan agreement will be requested for a period of up to six months to the euro zone authorities soon.
Over the last few weeks, depositors have been taking out their savings, thereby creating a crach crunch for lenders.
JP Morgan, the investment bank in the US, claimed that every week €2bn worth of deposits has been flowing out of Greek banks.
The bank’s estimate is based on a calculation that deposits worth a maximum of €108bn are left in Greek banks.
Image: ECB construction site with the twin tower and the historic market hall in the foreground. Photo: courtesy of Epizentrum
