Eurogroup President Jean-Claude Juncker announced late Monday that eurozone finance ministers have politically adopted the 130-billion-euro (about 171 billion U.S. dollars) second bailout program for Greece.

"With the completion of the prior actions and the successful PSI operation, the new Greek programme is not only in its starting blocks but has been politically adopted tonight by the Eurogroup," Juncker said at a press conference after a meeting of eurozone finance ministers.

The bailout program is expected to be formally launched next Wednesday when the Eurozone Working Group (EWG) consisting of the deputies of the finance ministers will meet and check if all the international national procedures will have been fulfilled, said Juncker.

He said, however, the final launch of the bailout plan would depend on the decision taken by the International Monetary Fund (IMF) board Thursday on the IMF's proposal to recommend a 28-billion-euro contribution to the Greek bailout plan.

The Eurogroup welcomes the IMF proposal and Juncker said he was "quite confident that the decision will point in the right direction."

"Against this background, we approved the launch of the second programme, pending the completion of the national procedures," he added.

The president hailed the bailout program for the 2012-2014 period as an "unprecedented amount of official financing" that is being committed to securing Greece's future in the euro area, "which is without any doubt."

"Greece will be a member of the euro area whatever will happen," said Juncker, who cited a latest troika (EU, IMF and ECB) report forecasting that the successful debt swap will allow the Greek debt-to-GDP ratio to decline to 117 percent in 2020.

"You will have to compare this to recent Council decisions aiming at reaching a level of 120.5 percent," he added, while urging the Greek authorities not to "spend" the better than expected outcome but keep it as a "buffer".

VietNamNet/Xinhuanet