Though the broad outlines of the Greek bailout were agreed on Monday, specific terms will now be thrashed out between Greece and its European creditors.
German Finance Minister Wolfgang Schaeuble has mentioned a possible temporary exit from the euro for Greece to sort out its problems.
The cash will allow Greece to meet the repayment on a €3.5bn bond held by the ECB that matures on Monday, and defuse the time bomb of a default that would have required the ECB to cut off its bank aid, bringing on a financial collapse.
Once Greece gets this bridge loan, the focus will turn to the bigger, promised eurozone bailout.
The vote sparked a revolt by some members of Tsipras’ own party, as well as protests on the street by Greek citizens who say the nation is already overburdened by cost-cutting measures.
Because completing a new rescue deal is expected to take up to four weeks, Greece’s European creditors also agreed on interim financing in the meantime.
Michel Reijns, spokesman for Jeroen Dijsselbloem, who heads the Eurogroup of finance ministers representing the 19-country eurozone, said the group had finished a teleconference on Greece and would issue a statement later Thursday.
The vote came after more than two weeks of capital controls, with banks and the stock exchange shut and ATM cash withdrawals limited to 60 euros per day.
The Greek government announced a small-scale cabinet shuffle on Friday, after two ministers resigned and three others voted against austerity measures that are a prerequisite for the country to secure a fresh bailout.
The outspoken finance minister said the bailout programme hammered out by Greece and the European Union this week “would go down in history as the greatest disaster of macroeconomic management ever”. It faces a Monday deadline to repay 4.2 billion euros ($4.6 billion) to the European Central Bank, and is also in arrears on 2 billion euros to the International Monetary Fund.
Ms Merkel will have to return to parliament to seek approval for the final deal when the negotiations are concluded. The euro dipped slightly as Draghi spoke, having fallen to a six-week low against the dollar on Thursday ahead of the ECB’s decision after the Greek parliament approved its bailout plan, falling 0.5 percent to trade around $1.088.
A central bank official said the Bank of Greece was working with the finance ministry and examining all possibilities so the banks could open as soon as possible.
Draghi offered more support by saying that debt relief of some sort for Greece was “uncontroversial” and that the European Central Bank “continues to act on the assumption that Greece is and will remain a member of the eurozone”.