Brussels, 08/07/2014 (Agence Europe) - The Board of Directors of the European stability mechanism (ESM) on Monday 7 July approved the disbursement of €600 million to Cyprus following the fourth positive assessment by the troika (European Commission, European Central Bank and International Monetary Fund). ESM Director General Klaus Regling said on Monday evening that the money would be paid later this week. According to the latest follow-up report from the European Commission, this fifth ESM disbursement should cover the repayment of €500 million worth of bonds in mid-July (see EUROPE 11114). Of the €9 billion committed by the ESM to Cyprus, €5.35 billion have so far been paid out. (EL)