Greece raised 1.3 billion euros (1.74 billion US dollars) in a fresh treasury bills auction on Tuesday, the country's Public Debt Management Agency (PDMA) announced.

Athens sold the three-month treasury bills at an interest rate of 4.05 percent; lower than the 4.07 rate secured in a similar auction in January.

PDMA officials said that the amount raised on Tuesday will be used to cover an older issuance which comes due at the end of this week.

Shut out of international markets over the past three years, debt laden Greece relies on a monthly treasury bills sale program to meet its financing needs in parallel with multi-billion euro bailout aid from the European Union and the International Monetary Fund (IMF) creditors.

The country struggled to avoid a disorderly bankruptcy and potential exit from the euro which could destabilize more European economies through painful austerity and currently focuses on efforts to restore growth to exit the debt crisis.