A final bailout agreement for Greece is on the brink of being finalised, after significant concessions were made by Alexis Tsipras.

According to sources, the country hopes to negotiate final agreement with creditors by August 11th.

Finance ministers and creditors have been in talks over the weekend, which stretched into early Monday morning. A source has told Reuters that they are confident an 86 billion euro deal will be reached by the early hours of tomorrow.

“Efforts are being made to conclude the negotiations, the horizon is by Monday night or early Tuesday,” said a Greek official who declined to be named.

“When the new bailout comes to parliament for a vote it will be one bill with two articles – one article will be the loan agreement and the MoU (memorandum of understanding) and the second article will be the prior actions,” the official said, referring to measures Greece needs to take for the bailout accord to take effect.

The new bailout agreement comes just a week before their first 3 billion euro repayment, due on Aug 20.