Euro zone finance ministers have provisionally approved a second bailout worth 130 billion euros for debt-stricken Greece.

The ministers agreed during a meeting in Brussels Thursday to finalize the approval next Friday when a bond swap between Greece and private investors is set to be completed. The bond swap aims to cut Greece's privately-held debt in half.

Following the meeting, Eurogroup President Jean-Claude Juncker said Greece has implemented all the measures requested by the euro zone, noting things are progressing well.

Juncker added that euro zone ministers hailed "decisive and swift legislative action" by Greece toward conducting reforms aimed at promoting financial soundness and stimulating economic growth.