The German cabinet on Monday approved a draft legislation to free up fundung to bail out debt-ridden Greece.

The bill covers Germany's contributions of up to 22.4 billion euros (30 billion U.S. dollars) within an overall three-year aid package of 110 billion euros 132 billion U.S. dollars) reached by the Greek government, the European Commission, the European Central Bank (ECB) and the the International Monetary Fund (IMF) on Sunday.

German Chancellor Angela Merkel has said that her government would try hard to win parliament approval of the bill by Friday.