World Bank Document...Dec 31, 2015 · 2a, Chust Street, Tashkent, 100077, Republic of Uzbekistan...

❖ TSIAR-FINANS, LLCr i A D G R O T I P И Uzbekistan, Tashkent, 100077, 2a, Chust streetV > 1 A 1 \ U I \ V J U 1 a Tel/Fax: (998-71) 262-50-70, 262-08-47 262-08-41И E-mail: reception@ ciar.uz; [email protected]

www.ciar.uz

RURAL RESTRUCTURING AGENCY

“ RURAL ENTERPRISE SUPPORT. PHASE II” PROJECT (IDA CREDIT N0.4433-UZ, IDA CREDIT N0.5152,

GEF GRANT NO.TF014400)

INDEPENDENT AUDITOR’S REPORT ON THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE PERIOD FROM JANUARY 01, 2015 TO DECEMBER 31, 2015

“Rural Enterprise Support. Phase II” Project under Rural Restructuring Agency

has received___________ copy(ies) o f the Independent Auditor's Report(in writing)

2016

(surname and initials)Seal (signature)

Independent Member of C T > GENEVA GROUP INTERNATIONAL

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mailto:[email protected]:[email protected]://www.ciar.uz

S ^ C IA R GROUP TSIAR-FINANS, LLC

CONTENT

INDEPENDENT AUDITOR’S REPORT 3-4

SPECIAL PURPOSE FINANCIAL STATEMENTS FOR THE PERIOD FROM 01 JANUARY 2015 TO 31 DECEMBER 2015:

BALANCE SHEET BY IDA CREDIT N0.4433-UZ (ANNEX 1-1) 5

BALANCE SHEET BY IDA CREDIT N0.5152-UZ (ANNEX 1-2) 6

BALANCE SHEET BY IDA GEF GRANT NO.TF014400 (ANNEX 1-3) 7

STATEMENT OF RECEIPTS AND PAYMENTS BY IDA CREDIT N0.4433-UZ (ANNEX 2-1) 8

STATEMENT OF RECEIPTS AND PAYMENTS BY IDA CREDIT N0.5152-UZ (ANNEX 2-2) 9

STATEMENT OF RECEIPTS AND PAYMENTS BY GEF GRANT NO.TF014400 (ANNEX 2-3) 10

STATEMENT ON USES OF FUNDS BY PROJECT COMPONENTS BY IDA CREDIT N0.4433-UZ (ANNEX 3-1)

STATEMENT ON USES OF FUNDS BY PROJECT COMPONENTS BY IDA CREDIT N0.5152-UZ (ANNEX 3-2)

STATEMENT ON USES OF FUNDS BY PROJECT COMPONENTS BY GEF GRANT NO.TF014400 (ANNEX 3-3)

RECONCILIATION STATEMENT REPLENISHED AND RECOVERED SOE DISBURSEMENTS - IDA CREDIT N0.4433-UZ (ANNEX 5-1)

RECONCILIATION STATEMENT REPLENISHED AND RECOVERED SOE DISBURSEMENTS - IDA CREDIT N0.5152-UZ (ANNEX 5-2)

RECONCILIATION STATEMENT REPLENISHED AND RECOVERED SOE DISBURSEMENTS - GEF GRANT NO.TF014400 (ANNEX 5-3)

STATEMENTS OF SPECIAL ACCOUNTS OF REGIONAL OFFICES RRA (ANNEX 7-7 - ANNEX 7-13)

11

12

13

SOE WITHDRAWAL SCHEDULE - IDA CREDIT N0.4433-UZ (ANNEX 4-1) 14

SOE WITHDRAWAL SCHEDULE - IDA CREDIT N0.5152-UZ (ANNEX 4-2) 15

SOE WITHDRAWAL SCHEDULE - GEF GRANT NO.TF014400 (ANNEX 4-3) 16

17

18

19

DIRECT PAYMENTS SCHEDULE - IDA CREDIT N0.4433-UZ (ANNEX 6) 20

STATEMENTS OF SPECIAL ACCOUNTS OF THE AGENCY (ANNEX 7-1 - ANNEX 7-6) 21-26

2 7 - 3 3

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS 34 - 45

2

v$> C lA R GROUP TSIAR-FINANS, LLC

INDEPENDENT AUDITOR’S REPORT

Addressees: Management of Rural Restructuring Agency

We have audited the accompanying Special Purpose Financial Statements of "Rural Enterprise Support. Phase II” Project (hereinafter - Project) under Rural Restructuring Agency (hereinafter - Agency), financed from credit proceeds of the International Development Association (hereinafter - Association, IDA) according to the financing agreement No.4433-UZ, additionally financed from credit proceeds of the IDA according to the financing agreement No.5152-UZ and co-financed from grant proceeds of Global Environment Facility Trust Fund (hereinafter - GEF) No.TF014400 (hereinafter in combination - Financing Agreements) for the period from 1 January 2015 to 31 December 2015, namely:

(i) Balance sheet by IDA Credit No.4433-UZ;

(ii) Balance sheet by IDA Credit No.5152-UZ;

(iii) Balance sheet by GEF Grant No.TF014400;

(iv) Statement of Receipts and Payments by IDA Credit No.4433-UZ;

(v) Statement of Receipts and Payments by IDA Credit No.5152-UZ;

(vi) Statement of Receipts and Payments by GEF Grant No.TF014400;

(vii) Statement on Uses of Funds by Project Components by IDA Credit No.4433-UZ;

(viii) Statement on Uses of Funds by Project Components by IDA Credit No.5152-UZ;

(ix) Statement on Uses of Funds by Project Components by GEF Grant No.TF014400;

(x) SOE Withdrawal Schedule - IDA Credit No.4433-UZ;

(xi) SOE Withdrawal Schedule - IDA Credit No.5152-UZ;

(xii) SOE Withdrawal Schedule - GEF Grant No.TF014400;

(xiii) Reconciliation Statement Replenished and Recovered SOE Disbursements - IDA Credit No.4433-UZ;

(xiv) Reconciliation Statement Replenished and Recovered SOE Disbursements - IDA Credit No.5152-UZ;

(xv) Reconciliation Statement Replenished and Recovered SOE Disbursements - GEF Grant NO.TF014400;

(xvi) Direct Payments Schedule - IDA Credit No.4433-UZ; (xvii) Statements of Special Accounts; and

(xvii) Notes to the Special Purpose Financial Statements.

The Special Purpose Financial Statements have been prepared by the management of the Project according to the International Public Sector Accounting Standards (hereinafter - IPSAS) under the Cash Basis of Accounting and the World Bank’s requirements.

Management’s Responsibility

The management of the Project is responsible for preparation and fair presentation of these Special Purpose Financial Statements in accordance with IPSAS under the Cash Basis of Accounting. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the special purpose financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Our responsibility is to express an opinion on the accompanying Special Purpose Financial Statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (ISA), issued by International Auditing and Assurance Standards Board of the International Federation of Accountants Those standards require that we should follow ethical norms, plan and perform the audit to obtain reasonable assurance that there is no incorrect or false data in the Special Purpose Financial Statements.

3

^ C IA R GROUP TSIAR-FINANS, LLC

Audit stipulates carrying out the procedures, which are aimed to get audit proofs as regards numeric data and information, contained in the Special Purpose Financial Statements. Choosing the procedures is based on auditor’s professional judgment, including the estimation of risks of substantial misrepresenting of financial statement as a result of fraud or mistakes. In the process of estimation of above-mentioned risks, Auditor considers internal control system related to the preparation and authentic submission of financial statement of the organization to develop audit procedures, which are necessary in the present circumstances, but not to express opinion on the effectiveness of organization’s internal control system.

An audit also includes evaluating principles of accounting policies used and estimates made by the management, as well as evaluating the overall presentation of the Special Purpose Financial Statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the above-stated Special Purpose Financial Statements give a true and fair view of the sources and uses of “Rural Enterprise Support. Phase II” Project funds for the period from 01 January 2015 to 31 December 2015 and complies with conditions of the Financing Agreements and IPSAS under the Cash Basis of Accounting.

Moreover, (a) with respect to SOEs, adequate supporting documentation has been maintained to support claims to the Association for reimbursement of expenditures incurred; and (b) the expenditures comply with objectives stipulated in the Financing Agreements.

Basis of Accounting

Without modifying our opinion, we draw attention to Note 2 to the Special Purpose Financial Statements, which describes the basis of accounting. The Special Purpose Financial Statements are prepared to assist the Project to comply with the financial reporting provisions on the requirements conditions of the Financing Agreements and IPSAS under the Cash Basis of Accounting. As a result, the Special Purpose Financial Statements may not be suitable for another purpose. This audit report is only for information purpose and for internal use by IDA, GEF and the Government of the Republic of Uzbekistan, as well as the management of Agency, and should not be distributed to or used by other parties.

Auditor:

TSIAR-FINANS LLC2a, Chust Street, Tashkent,100077, Republic of Uzbekistan

25 May 2016

Annex 1-1

Special Purpose Financial Statements of the Project

BALANCE SHEET As at 31 December 2015

(USD)

Rural Enterprise Support Project. Phase IIIDA Credit No.4433 - UZ

Indicator Note as at 1 January 2015 as af 31 December 2015

ASSETS

Cash and cash equivalents 5.1. 1 459 768,35 1 442 989,02

TOTAL ASSETS 1 459 768,35 1 442 989,02

OWN FUNDS/FINANCING

IDA financing 51 443 561,78 57 989 200,32

Government financing 2 843 703,54 4 844 443.70

Cumulative expenditure, net: (52 827 496,97) (61 390 654,99)

including: Exchange rate difference (1 319,12) (1 348,32)

TOTAL OWN FUNDS/FINANCING 1 459 768,35 1 442 989,02

SignatureMr. N. NajimovPosition: Agency General Director

Signature Ms. G. Gubieva Position: Chief Accountant

Balance Sheet is to be read in conjunction with Notes (Pages from 34 to 45) thereto forming an integral part of the Special Purpose FinancialStatements.

Annex 1-2



(USD)


Indicator Note as at 1 January 2015 as at 31 December 2015

ASSETS

Cash and cash equivalents 5.1. 1 741 790.37 1 420 824,39

TOTAL ASSETS 1 741 790,37 1 420 824,39

OWN FUNDS/FINANCING

IDA financing 7 030 717,84 31 276 406,35

Cumulative expenditure, net: (5 288 927,47) (29 855 581,96)

including: Exchange rate difference (5,76) (24,20)





6

Annex 1-3

Rural Enterprise Support Project. Phase II GEF Trust Fund Grant NO.TF014400



(USD)

Indicator Note as at 1 January 2015 as at 31 December 2015

ASSETS

Cash and cash equivalents 5.1. 1 945 274,67 1 914 792,59

TOTAL ASSETS 1 945 274,67 1 914 792,59

OWN FUNDS/FINANCING

Trust Fund financing 2 000 000,00 2 440 695,43

Cumulative expenditure, net: (54 725,33) (525 902,83)

including: Exchange rate difference (0,08) (3,46)





7

Annex 2-1


Statements of Receipts and Payments as at 31 December 2015 (USD)


N otes

A c tu a l

From 01 January 2015 to 31 Decem ber 2015

C um ulative from the beginning of the

Project

Funds

Replenished to USD Special Account by IDA funds 5.1 6 191 114,73 50 182 956,97

Direct payments by IDA funds 9 354 523,81 7 806 243,35

Tota l IDA fu n d s 6 545 638,54 57 989 200,32

Governm ent Co-Financinq 5.3 2 000 740,16 4 844 443,70

Tota l G overnm ent fu n d s 2 000 740,16 4 844 443,70

Tota l 8 546 378,70 62 833 644,02

P ro je c t E xp e nd itu re s1. W orks 8 6 860 434,33 15 383 080,052. Goods 0,00 2 467 438,21

3. Consultants' Services, including Training and Audit 1 496 111.16 7 786 028,31

4. Sub-loans and lease financing 0,00 34 593 340,90

5. Incremental Operating Costs 206 583,33 1 159 419,20

Tota l 8 563 128,82 61 389 306,67Exchange rate difference 29,20 1 348,32

T o ta l P ro je c t E xp e n d itu re s 8 563 158,02 61 390 654,99

E xcess o f R ece ip ts o ve r P aym ents -16 779,32 1 442 989,02

O pen ing balance

Funds

USD Special Account o f the Agency 5.1 1 459 454,31UZS Special Account o f the Agency 5.1 314,04

Tota l 1 459 768,35N et A va ilab le Funds 1 442 989,02 1 442 989,02

C lo s in g balance

Funds

USD Special Account o f the Agency 5.1 1 439 097,28 1 439 097,28UZS Special Account o f the Agency 5.1 3 891,74 3 891,74

Tota l 1 442 989,02 1 442 989,02



Statements of Receipts and Payments to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of Special Purpose FinancialStatements of the Project.

Annex 2-2

Rural Enterprise Support Project. Phase II IDA Credit N0.5152-UZ



NotesActual

From 01 January 2015 to 31 December 2015

Cumulative from the beginning of the Project

Funds

Replenished to USD Special Account by IDA funds 5.1 24 245 688,51 31 276 406.35Total 24 245 688,51 31 276 406,35

Project Expenditures1. Sub-loans and lease financing 6 24 566 636,05 29 855 557,76

Total 24 566 636,05 29 855 557,76Exchange rate difference 18,44 24,20

Total P ro ject Expenditures 24 566 654,49 29 855 581,96Excess o f Receipts over Payments -320 965,98 1 420 824,39Opening balance

FundsUSD Special Account of the Agency UZS Special Account of the Agency

1 741 393,48 396,89

Total 1 741 790,37Net Available Funds 1 420 824,39 1 420 824,39C losing balanceFundsUSD Special Account of the Agency UZS Special Account of the Agency

5.15.1

1 420 721,29 103,10

4 420 721,29 103,10

Total 1 420 824,39 1 420 824,39



Statements of Receipts and Payments to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of Special PurposeFinancial Statements of the Project.

Annex 2-3



Rural Enterprise Support Project. Phase IIGEF Trust Fund Grant No.TF014400

NotesActual


Cumulative from the beginning of the Project

Funds

Replenished to USD Special Account by GEF funds 5.1 440 695,43 2 440 695,43Total 440 695,43 2 440 695,43

Project Expenditures

1. Goods, works, consultants' services and trainings 269 110,09 269 457.22

2. Matching grants 7 125 057,39 125 057,393. Incremental operating costs 77 006,64 131 384,76

Total 471 174,12 525 899,37Exchange rate difference 3,38 3,46

Total P ro ject Expenditures 471 177,50 525 902,83

Excess o f Receipts over Payments -30 482,07 1 914 792,59

Opening balance

Funds

USD Special Account of the Agency 1 945 274,00

UZS Special Account of the Agency 0,67

Total 1 945 274,67Net Available Funds 1 914 792,59 1 914 792,59Closing balanceFunds

USD Special Account of the Agency 5.1 1 914 707,41 1 914 707.41UZS Special Account of the Agency 5.1 85,18 85,18

Total 1 914 792,59 1 914 792,59

Mr. N. NajimovSignature У / f ! )___________________ Position: Agency General Director


Statements of Receipts and Payments to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of Special Purpose FinancialStatements of the Project.

10

Annex 3-1


Statement on Uses of Funds by Project Components for the period from 01 January 2015 to 31 December 2015(USD)


Components Notes

Actual Budget Variance

From 01 January 2015 to

31 December 2015

Cumulative from the

beginning of the Project

From 01 January 2015

to 31 December 2015

Cumulative from the



to 31 December

2015

Cumulative from the beginning of

the Project

P roject expenditures

Com ponent A "Rural Enterprise Finance"

A1. Credit line - sub - loans and lease financing 0,00 34 593 340,90 0.00 27 922 000.00 0.00 -6 671 340,90

A2. Credit line - technical assistance 0.00 266 862,75 0,00 496 000,00 0.00 229 137,25

Total 0,00 34 860 203,65 0,00 28 418 000,00 0,00 -6 442 203,65

Com ponent В "Irriga tion and Drainage"

В1. Works 7 6 860 434.33 15 370 035.05 1 760 000.00 17 212 413,87 -5 100 434.33 1 842 378.82

B2. Goods 0,00 2 311 481.08 0,00 8 130 000.00 0.00 5 818 518,92

B3. Training 0,00 0.00 0,00 250 000.00 0,00 250 000,00

B4. Consultants' Services 789 266.05 2 675 437.38 330 000,00 3 692 000,00 -459 266.05 1 016 562.62

Total 7 649 700,38 20 356 953,51 2 090 000,00 29 284 413,87 -5 559 700,38 8 927 460,36

Com ponent С "Rural Training and Advisory Services"

C1. Training Seminars 0.00 1 551 202,99 0,00 978 000.00 0.00 -573 202.99

C2. Preparation of trainers 0.00 0,00 0.00 64 000.00 0.00 64 000,00

C3. Information companies in Mass Communication Media 0.00 0,00 0.00 192 000.00 0,00 192 000,00

Total 0,00 1 551 202,99 0,00 1 234 000,00 0,00 -317 202,99

C om ponent D "P ro ject Management"

D1. Incremental Operating Costs 913 428,44 4 620 946.52 510 000.00 3 724 139.30 -403 428.44 -896 807.22

Total 913 428,44 4 620 946,52 510 000,00 3 724 139,30 -403 428,44 ■896 807,22

Total P ro ject Expenditures 8 563 128,82 61 389 306,67 2 600 000,00 62 660 553,17 -5 963 128,82 1 271 246,50

Signature Mr. N. NajimovPosition: Agency General Director


Statement of Uses of Funds by Project Components to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of Special PurposeFinancial Statements of the Project.

11

Annex 3-2

Specia l P urpose F inancia l S tatem ents o f the P ro ject

S ta tem ent on Uses o f Funds by P ro jec t C om ponen ts fo r the period fro m 01 January 2015 to 31 Decem ber 2015(USD)

Rural Enterprise Support Project. Phase IIIDA Credit No.5152-UZ

Components Notes



31 December 2015


the Project


31 December 2015


the Project


31 December 2015


the Project

Project expenditures

Component A "Rural Enterprise Finance"

A1. Credit line - sub - loans and lease financing 6 24 566 636.05 29 855 557.76 13 000 000.00 18 288 921.71 -11 566 636.05 -11 566 636.05

Total 24 566 636,05 29 855 557,76 13 000 000,00 18 288 921,71 -11 566 636,05 -11 566 636,05

Total Project Expenditures 24 566 636,05 29 855 557,76 13 000 000,00 18 288 921,71 -11 566 636,05 -11 566 636,05


12

Annex 3-3

Specia l Purpose F inancia l S tatem ents o f the P ro ject

S ta tem ent on Uses o f Funds by P ro je c t C om ponents fo r the period fro m 01 January 2015 to 31 D ecem ber 2015(USD)

Rural Enterprise Support Project. Phase IIGEF Trust Fund Grant NO.TF014400


Components NotesFrom 01

January 2015 to 31 December

2015

Cumulative from the



31 December 2015

Cumulative from the



to 31 December

2015


the Project

Project expenditures

Component 1 "Investment for Sustainable Technologies"

1. Credit line matching grant 125 057.39 125 057,39 4 500 000,00 5 900 000,00 4 374 942.61 5 774 942.61

2. Technology demonstration 53 825,29 53 825,29 740 000,00 1 000 000,00 686 174,71 946 174,71

Total 178 882,68 178 882,68 5 240 000,00 6 900 000,00 5 061 117,32 6 721 117,32

Component 2 "Irrigated Land Degradation Mitigation"

1. Technologies and Management Approaches for Controlling and Reversing Irrigated Land Degradation

0,00 0,00 660 000,00 670 000,00 660 000,00 670 000.00

2. Promotion of Sustainable Land Management Practices via Farmer Field Schools 0,00 0,00 50 000,00 60 000,00 50 000,00 60 000,00

Total 0,00 0,00 710 000,00 730 000,00 710 000,00 730 000,00

Component 3 "Project Technical Support, Advisory Services and Project Management"

1. Capacity Building / Training of Trainers 215 284,80 215 284,80 542 000.00 598 000,00 326 715.20 382 715.20

2. Training, Information Centres and Media 0,00 347,13 926 000,00 976 000,00 926 000,00 975 652,87

3. Project Management 77 006,64 131 384,76 250 000,00 365 000,00 172 993,36 233 615,24

Total 292 291,44 347 016,69 1 718 000,00 1 939 000,00 1 425 708,56 1 591 983,30

Total Project Expenditures 471 174,12 525 899,37 7 668 000,00 9 569 000,00 7 196 825,88 9 043 100,62




13

Annex 4-1


SOE Withdrawal Schedule - IDA Credit for the period from 01 January 2015 to 31 December 2015

(USD)

Rural Enterprise Support Project. Phase II

IDA Credit No.4433 - UZ

Withdrawalapplication

No.

D isb u rse m e n t C ategory

Total amount for reimbursement

RecoveredReplenished to USD Special

Account1. W orks 2. Goods

3. Consultants' Services,

including Training and Audit

4. Sub-loans and lease financing

5. Incremental Operating Costs

89* 535 178,72 0,00 42 241,25 0,00 20 844,75 598 264,72 0,00 598 264,72

92 631 058,78 0,00 243 309,54 0,00 19 701,02 894 069,34 0,00 894 069.34

97 569 289,25 0,00 94 586,05 0,00 28 119,57 691 994.88 0,00 691 994,88

98 792 775,75 0,00 235 505,67 0,00 24 230,27 1 052 511,70 0.00 1 052 511,70

101 781 630,42 0,00 115 524,19 0,00 24 141,29 921 295.90 0,00 921 295,90

104 975 788,97 0,00 96 787,84 0,00 35 979,69 1 108 556,50 0.00 1 108 556,50

105** 781 989,62 0,00 103 521,77 0,00 38 944,28 924 455,66 0,00 924 421,69

110*** 503 493.16 0,00 122 217,80 0,00 21 958,32 647 669,28 0,00

Total 5 571 204,67 0,00 1 053 694,11 0,00 213 919,20 6 838 817,98 0,00 6 191 114,73

* Application No.89 consists of expenses of 2014 at amount 537 597,65 USD and expenses of 2015 at amount 60 667.07 USD ** Expenses at amount of 33,97 USD were not disbursed from Application No. 105*** Application No.110 including expenses 2015 at amount 554 347,77 USD and expenses 2016 at amount 93 321.51 USD

This Application has been submitted on compensation for IDA in 2016.



SOE Withdrawal Schedule - IDA Credit to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of Special Purpose FinancialStatements of the Project.

14

Annex 4-2


SOE Withdrawal Schedule - IDA Credit for the period from 01 January 2015 to 31 December 2015

(USD)

Rural Enterprise S upport Project. Phase IIIDA C redit N o.5152-U Z


No.

Disbursement Category Total amount for reimbursement

RecoveredReplenished to USD

Special Account1. Sub-loans and lease credit line

8* 408 099,89 408 099,89 0,00 408 099,89

9 711 656,18 711 656,18 0,00 711 656,18

10 1 040 146,21 1 040 146,21 0,00 1 040 146,21

11 765 850,30 765 850,30 0,00 765 850,30

12 1 000 038,05 1 000 038,05 0,00 1 000 038,05

13 500 026,00 500 026,00 0,00 500 026,00

14 1 433 426,56 1 433 426,56 0,00 1 433 426,56

15 576 650,33 576 650,33 0,00 576 650,33

16 581 305,30 581 305,30 0,00 581 305,30

17 1 823 870,71 1 823 870,71 0,00 1 823 870,71

18 808 871,46 808 871,46 0,00 808 871,46

19 1 137 974,84 1 137 974,84 0,00 1 137 974,84

20 1 338 051,05 1 338 051,05 0,00 1 338 051,05

21 952 001,65 952 001,65 0,00 952 001,65

22 617 791,57 617 791,57 0,00 617 791,57

23 613 580,37 613 580,37 0,00 613 580,37

24 709 058,78 709 058,78 0,00 709 058,78

25 1 064 337,79 1 064 337,79 0,00 1 064 337,7926** 905 587,79 905 587,79 0,00 905 421,67

27 650 013,00 650 013,00 0,00 650 013,00

28 1 539 051,18 1 539 051,18 0,00 1 539 051,1829 892 287,22 892 287,22 0,00 892 287,2230 1 670 037,92 1 670 037,92 0,00 1 670 037,9231 822 382,76 822 382,76 0,00 822 382,7632 711 266,22 711 266,22 0,00 711 266,2233 972 491,50 972 491,50 0,00 972 491,50

34*** 579 151,43 579 151,43 0,00Total 24 825 006,08 24 825 006,08 0,00 24 245 688,51

* Application No.8 consists of expenses of 2014 at amount 258 203,89 USD and expenses of 2015 at amount 149 896,00 USD

** Expenses at amount of 166,12 USD were not disbursed from Application No.26 *** Application No.34 has been submitted on compensation for IDA in 2016.


Signature [ Ms. G. GubievaPosition: Chief Accountant

SOE Withdrawal Schedule - IDA Credit to be read in conjunction with the Notes (pages 34 - 45) forming an integralpart of Special Purpose Financial Statements of the Project.

15

Annex 4-3

Special Purpose Financial Statem ents o f the Project

SOE W ithdraw al Schedule - GEF Grant fo r the period from 01 January 2015 to 31 December 2015

(USD)



No.

Disbursement Category

Total amount for reimbursement

RecoveredReplenished to USD Special

Account

1. Goods, works, consultants' services and

trainings

2. Matching grants 3. Incremental operating costs

2* 347,13 0,00 54 378,12 54 725,25 0,00 54 725,25

3 33 068,00 60 492,00 20 485,97 114 045,97 0,00 114 045,97

4 214 300,53 25 327,82 32 295,85 271 924,21 0,00 271 924,21

5 " 257 538,76 39 237,56 44 094,56 340 870,88 0,00

Total 505 254,43 125 057,39 151 254,50 781 566,31 0,00 440 695,43

* Application No.2 includes all expenses of 2014.** Application No.5 including expenses 2015 at amount 85 203,94 USD and expenses 2016 at amount 255 666,94 USD.

This Application has been submitted on compensation for IDA in 2016.



SOE Withdrawal Schedule GEF Grant to be read in conjunction with the Notes (pages 34 - 45) forming an integral part ofSpecial Purpose Financial Statements of the Project.

16

Annex 5-1

Special Purpose Financial Statements o f the Project

Reconciliation Statement fo r Replenished and Recovered SOE Disbursements - IDA Credit fo r the period from 01 January 2015 to 31 December 2015

(USD)


Total SOE Expenditures

Expenses of 2014 from W A 89

Expenses undisbursed from W A 105

Expenses shown on compensation in 2016 from W A 110

Total expenditures

6 838 817,98

537 597,65

33,97

647 669,28

5 653 517.08

Replenished to USD Special Account

including:

Expenses of 2014 from W A 89

Total replenished

6 191 114,73

537 597,65

5 653 517.08

Difference 0,00

Signature Mr. N. Najimov

osition: Agency General Director

Signature Ms. G. Gubieva

Position: Chief Accountant

Reconciliation S tatem ent for Replenished and Recovered SOE D isbursem ents - IDA Credit to be read inconjunction with the Notes (pages 34 - 45) form ing an integral part o f Special Purpose Financial S tatem ents of

the Project.

17

Annex 5-2



Reconciliation Statement for Replenished and Recovered SOE Disbursements - IDA Credit for the period from 01 January 2015 to 31 December 2015

(USD)


Expenses of 2014 from WA 8

Expenses undisbursed from WA 26

Expenses shown on compensation in 2016 from WA 34

Total expenditures

24 825 006,08

258 203,89

166,12

579 151,43

23 987 484,62


including:


Total replenished

24 245 688,51

258 203,89

23 987 484,62

Difference 0,00

Signature N. Najimov Position: Agency General Director

Signatured Ms G. GubievaPosition: Chief Accountant

Reconciliation Statement for Replenished and Recovered SOE Disbursements - IDA Credit to be read inconjunction with the Notes (pages 34 - 45) forming an integral part of Special Purpose Financial Statements of

the Project.

18

Annex 5-3


Reconciliation Statement for Replenished and Recovered SOE Disbursements - GEF Grant for the period from 01 January 2015 to 31 December 2015

(USD)




Expenses shown on compensation in 2016 from WA 5

Total expenditures

781 566,31

54 725,25

340 870,88

385 970,18


including:


Total replenished

440 695,43

54 725,25

385 970,18

Difference 0,00

Signature Mr. N. Najimov9osition: Agency General Director


Reconciliation Statement for Replenished and Recovered SOE Disbursements - GEF Grant to be read inconjunction with the Notes (pages 34 - 45) forming an integral part of Special Purpose Financial Statements of

the Project.

19

Annex 6



Direct Payments Schedule - IDA Credit fo r the period from 01 January 2015 to 31 December 2015

(USD)

Application fo r Withdrawal № Category Amount

90 Consultants' Services, including Training and Audit 72 532,74













Total 354 523,81

Подпись

Подпись|

Mr N. Najimov

Position: Agency General Director

Ms. G. Gubieva Position: Chief Accountant

Direct Payments Schedule - IDA Credit to be read in conjunction with the Notes (pages 34 - 45) forming an integral part of SpecialPurpose Financial Statements of the Project.

2 0

Annex 7-1

STATEMENT OF USD SPECIAL ACCOUNT OF THE AGENCY

Period Account No. Depository Bank Address Type of Account Related credit Currency

From 01 January 2015 to 31 December 2015 2021 0840 8039 6563 7022 JSCMB "Ipoteka Bank"17, Mustakillik Street, Tashkent, Republic of Uzbekistan USD Special Account of the Agency 4433 - UZ USD

Notes

Opening balance 5.1 01.01.2015_________________ _$_______ 1 459 454,31

Inflow:IDA financing 5.1 $ 6 191114,73Return of undisbursed travel expenses 648,03

Total Inflow Outflow:Converted into UZS and transferred to UZS Special Account of the Agency

Travel expenses Bank chargesUndisbursed travel expenses

Total outflow $_______6 212 119,79

$ 6 191 762,76

$ 6 206 473,79

4 906,97 91,00

648,03

Closing balance 5.1 31.12.2015 $ 1 439 097,28

Signature Mr. N NajimovPosition: Agency General Director

Signature [ Ms. G. GubievaPosition: Chief Accountant

Statement of USD Special Account of the Agency to be read in conjunction with Notes (pages 34 - 45) forming an integral part of Special Purpose Financial Statements of the Project.

21

Annex 7-2



From 01 January 2015 to 31 December 2015 2021 0840 8039 6563 7025 JSCMB "Ipoteka Bank"17, Mustakillik Street, Tashkent, Republic of Uzbekistan USD Special Account of the Agency 5152- UZ USD

Notes

Opening balance 5.1

Inflow:IDA financing 5.1

Total Inflow Outflow:Converted into UZS and transferred to UZS Special Account of the Agency Credit line Bank charges

Total outflow

Closing balance 5.1

0101.2015 $______ 1 741 393,48

$ 24 245 688,51

$ 24 245 688,51

$ 5 393 263,00

19 172 759,70 338,00

$ 24 566 360,70

31.12.2015 $ 1 420 721,29

Mr. N. NajimovPosition: Agency General Director


Statement of USD Special Account of the Agency to be read in conjunction with Notes (pages 34 - 45) forming anintegral part of Special Purpose Financial Statements of the Project.

22

Annex 7-3


Period Account No. Depository Bank Address Type of Account Related grant Currency

From 01 January 2015 to 31 December 2015 2269 6840 1039 6563 7008 Head office of NB FEA RUz1, G. Gulyam Street, Tashkent, Republic of UzbekistanUSD Special Account of the AgencyTF014400USD

Notes

Opening balance 5.1 01.01.2015 _$______ 1 945 274,00

Inflow:IDA financing 5.1 S 440 695,43

Total Inflow Outflow:Converted into UZS and transferred to UZS Special Account of the Agency Matching grants Paid to suppliers Bank charges

$

$

246 566,00

60 492,00 164 171,02

33,00

440 695,43

Total outflow $ 471 262,02

Closing balance 5.1 31.12.2015 $ 1 914 707,41



Statement of USD Special Account of the Agency to be read in conjunction with Notes (pages 34 - 45) forming anintegral part of Special Purpose Financial Statements of the Project.

23

Annex 7-4

STATEMENT OF UZS SPECIAL ACCOUNT OF THE AGENCY


From 01 January 2015 to 31 December 2015 2021 0000 7039 6563 7025 JSCMB "Ipoteka Bank"17, Mustakillik Street, Tashkent, Republic of Uzbekistan UZS Special Account of the Agency 4433 - UZ UZS

Notes

Opening balance 5.1 01.01.2015 $_______314,04

Inflow:Converted into UZS $ 6 206 473,79Return of fault payment 239,53

Total Inflow $ 6 206 713,32Outflow:Financing of RRA Andijan $ 65 885,69Financing of RRA Bukhara 67 872,79Financing of RRA Kashkadarya 65 142,06Financing of RRA Samarkand 64 768,90Financing of RRA Syrdariya 66 295,68Financing of RRA Tashkent 57 524,21Financing of RRA Fergana 65 513,90Payment of Project expenditures 5 749 849,66Fault payment 239,53Exchange rate difference 43,20

Total outflow $ 6 203 135,62

Closing balance 5.1 31.12.2015 $ 3 891,74



Statement of UZS Special Account of the Agency to be read in conjunction with Notes (pages 34 - 45) forming anintegral part of Special Purpose Financial Statements of the Project.

24

Annex 7-5


Period Account No. Depository Bank

From 01 January 2015 to 31 December 2015 2021 0000 7039 6563 7028 JSCMB "Ipoteka Bank"

Address Type of Account Related credit Currency

17, Mustakillik Street, Tashkent, Republic of Uzbekistan UZS Special Account of the Agency 5152-UZ UZS

Notes

Opening balance 5.1 01.01.2015 $ 396,89

Inflow:Converted into UZS $ 5 393 263,00

Total Inflow Outflow:Credit line Bank charges Exchange rate difference

$ 5 376 271,30 17 267,05

18,44

$ 5 393 263,00

Total outflow $ 5 393 556,79

Closing balance 5.1 31.12.2015 $ 103,10

Signature Щ ёшА Mr. N. NajimovPosition: Agency General Director



25

Annex 7-6


Period Account No. Depository Bank Address Type of Account Related grant Currency

From 01 January 2015 to 31 December 2015 2269 6000 9039 6563 7005 Head office of NB FEA RUz1, G. Gulyam Street, Tashkent, Republic of UzbekistanUZS Special Account of the AgencyTF014400UZS

Notes

Opening balance 5.1 01.01.2015 0,67

Inflow:Converted into UZS Return of fault payment

$ 246 566,00 177,25

Total Inflow Outflow:Matching grantsPayment of Project expenditures Fault payment Exchange rate difference

$ 64 565,39 181 912,71

177,25 3,38

$ 246 743,25


Closing balance 5.1 31.12.2015 $ 85,18




26

Annex 7-7

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA ANDIJAN


From 01 January 2015 to 31 December 20152021 0000 9047 7168 4001Andijan branch of JSCMB "Ipoteka Bank"

1 Anisiy Street, Andijan, Republic of Uzbekistan UZS Special Account of Regional Office RRA Andijan 4433 - UZ UZS

Notes

Opening balance 5.2 01.01.2015 $ 29,94

Inflow:Financing of the Agency $ 65 885,69

Total Inflow Outflow:Payment of Project expenditures Exchange rate difference

$

$

65 744,98 169,12

65 885,69


Closing balance 5.2 31.12.2015 $ 1,54


Signature ( Ms. G. GubievaPosition: Chief Accountant

Statem ent of UZS Special Account of Regional Office RRA Andijan to be read in conjunction with Notes (pages 34- 45) form ing an integral part o f Special Purpose Financial Statem ents of the Project.

27

Annex 7-8

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA BUKHARA

Period Account No. Depository Bank Type of Account Related credit Currency

From 01 January 2015 to 31 December 20152021 0000 8047 5539 5001Bukhara branch of JSCB "Turon Bank"UZS Special Account of Regional Office RRA Bukhara4433 - UZUZS

Notes

Opening balance 5.2 01.01.2015 $ 0,82



$

$

67 788,15 84,25

67 872,79


Closing balance 5.2 31.12.2015 $ 1,21


Signature £ Ms. G. Gubieva Position: Chief Accountant

Statement of UZS Special Account of Regional Office RRA Bukhara to be read in conjunction with Notes(pages 34 - 45) forming an integral part of Special Purpose Financial Statements of the Project.

28

Annex 7-9

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA KARSHI


From 01 January 2015 to 31 December 2015 2021 0000 7039 6563 7021 Kashkadarya branch of SJSCB "Asaka"32-a Mustakillik Street, Karshi, Republic of Uzbekistan UZS Special Account of Regional Office RRA Karshi 4433 - UZ UZS

Opening balance

Notes

5.2 01.01.2015 24,99

Inflow:Financing of the Agency 65 142,06


65 113,65 4,92

65 142,06

Total outflow 65 118,57

Closing balance 5.2 31.12.2015 48,47

Signature ты Mr. N. NajimovPosition: Agency General Director


Statement of UZS Special Account of Regional Office RRA Karshi to be read in conjunction with Notes (pages 34 -45) form ing an integral part of Special Purpose Financial Statem ents of the Project.

29

Annex 7-10

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA SAMARKAND


From 01 January 2015 to 31 December 2015 2021 0000 5047 6619 6001 Samarkand branch of JSCB "Agrobank"8 Beruniy Street, Samarkand, Republic of Uzbekistan UZS Special Account of Regional Office RRA Samarkand 4433 - UZ UZS

Notes

Opening balance 5.2

Inflow:Financing of the Agency


Total outflow

Closing balance 5.2

01.01.2015 $___________ 0,03

s 64 768,90

$ 64 768,90

s 64 732,31 36,58

$ 64 768,89

31.12.2015 $ 0,03



Statement o f UZS Special Account of Regional Office RRA Sam arkand to be read in conjunction with Notes(pages 34 - 45) form ing an integral part of Special Purpose Financial Statem ents of the Project

30

Annex 7-11

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA SYRDARYA


From 01 January 2015 to 31 December 20152021 0000 5047 5992 5001Sirdarya branch of NB FEA RUz43 Navoi Street, Gulistan, Republic of UzbekistanUZS Special Account of Regional Office RRA Syrdariya4433 - UZUZS

Notes

Opening balance 5.2

Inflow:Financing of the Agency


Total outflow

Closing balance 5.2

01.01.2015 $___________ (U 1

$ 66 295,68

$ 66 295,68

$ 66 275,96 19,74

$ 66 295,70

31.12.2015 S 0,29



Statement of UZS Special Account o f Regional Office RRA Syrdarya to be read in conjunction with Notes (pages34 - 45) form ing an integral part o f Special Purpose Financial Statem ents of the Project.

31

Annex 7-12

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA TASHKENT


From 01 January 2015 to 31 December 2015 2021 0000 5047 6465 5001 JSCMB "Ipoteka Bank"17, Mustakillik Street, Tashkent, Republic of Uzbekistan UZS Special Account of Regional Office of RRA Tashkent 4433 - UZ UZS

Opening balance

Notes

5.2 01.01.2015 26,31



$ 57 544,96 4,75

$ 57 524,20


Closing balance 5.2 31.12.2015 $ 0,82

Signature 0ШшА Mr. N. NajimovPosition: Agency General Director


Statem ent of UZS Special Account o f Regional Office RRA Tashkent to be read in conjunction with Notes (pages34 - 45) form ing an integral part of Special Purpose Financial Statem ents of the Project

32

Annex 7-13

STATEMENT OF UZS SPECIAL ACCOUNT OF REGIONAL OFFICE RRA FERGANA



2021 0000 0039 6563 7018 Fergana branch of JSCB "Agrobank"11 Navoi Street, Fergana, Republic of Uzbekistan UZS Special Account of Regional Office RRA Fergana 4433 - UZ UZS

Notes

Opening balance 5.2 01.01.2015 $ 32,61



$

$

65 486,35 58,49

65 513,90


Closing balance 5.2 31.12.2015 $ 1,68



Statement o f UZS Special Account of Regional Office RRA Fergana to be read in conjunction with Notes (pages34 - 45) form ing an integral part of Special Purpose Financial Statem ents of the Project.

33

Notes to the Special Purpose Financial Statements for the period from 1 January 2015 till 31 December 2015

RURAL RESTRUCTURING AGENCY“RURAL ENTERPRISE SUPPORT. PHASE II" PROJECTIDA Credit No.4433-UZ, IDA Credit No.5152-UZ, GEF Grant No.TFOI4400

1. Description of the Project

In 8 October 2008 International Development Association (hereinafter - IDA) and the Government of the Republic of Uzbekistan (hereinafter - the Government) signed Financing Agreement (hereinafter - Financing Agreement) for the provision of credit to the Republic of Uzbekistan in the amount of Forty One Million Three Hundred Thousand Special Drawing Rights (SDR 41,300,000) equivalent to USD 67,96 million for the implementation of «Rural Enterprise Support. Phase II» Project (hereinafter - Project) with a maturity period of 35 years, including 10 years as a grace period.

According to the Uzbekistan President Resolution No.nn-2129 from 14 February 2014 On additional arrangements to facilitate the IDA-financed Rural Enterprise Support Project - Phase II, it is taken into account that on September 11, 2012 the Board approved an Additional Financing of SDR 26.4 million (US$40 million equivalent) for RESP-II to support the scaling up of the sub-loans to beneficiaries (development of orchard and vineyard production), loan maturity is 25 years including 5 years of grace period. Agreement No.5152-UZ on Additional Project Financing is signed by the GOU and IDA on 07 February 2014.

The objectives of the Project are to increase the productivity and financial and environmental sustainability of agriculture and the profitability of agribusiness in seven provinces of the Republic of Uzbekistan: Andijan, Bukhara, Kashkadarya, Samarkand, Syrdarya, Tashkent, Fergana provinces.

Also in line with the above UPR No ПП-2129 it is taken into account that on 29 January 2013 the WB Board has approved the grant financing from the Global Environment Facility Trust Fund (GEF) in total of USD12, 699 (GEF Trust Fund Grant No. TF014400 Sustainable Agriculture and Climate Change Mitigation Project) as the Project co-financing for activities intended to introduce energy-conservation technologies and alternative energy sources. Grant Agreement No.TF014400 was signed by the GOU and International Bank for Reconstruction and Development (IBRD) - GEF Executive agent on 07 February 2014.

The objectives of the Grant are to: (i) promote the introduction of selected renewable energy and energyefficiency technologies of relevance to agri-businesses and farm; and (ii) strengthen the capacity for improving degraded irrigated land and water conservation in the Project Area.

In line with the above UPR No.nn-2129 were introduced updates and amendments to the Resolution No.196 dated 27 August 2008 (hereinafter - Resolution) of the Cabinet of Ministers of the Republic of Uzbekistan «On measures on implementation of «Rural Enterprise Support Project, Phase II». GOU counter-financing of the Project activities is USD 12,470 M including GOU contribution of USD 11,983 M and Project stakeholders of USD 0,487 M.

Following the above-mentioned Resolution for the provision of effective implementation of the Project, Project Steering Committee was created. The Ministry of Agriculture and Water Resources (hereinafter - MAWR) is the Executing Body of the Project, which is responsible for target and effective use of credit funds and implementation of the Project.

Also according to the abovementioned Resolution, Rural Restructuring Agency (hereinafter - RRA, Agency) is responsible for coordination and management of the Project. RRA was created in accordance with the Resolution No.356 dated 19 August 1998 of the Cabinet of Ministers in the form of government non-profit enterprise and was registered as an independent legal entity by Shaikhontokhur District Inspection of State Registration of Entrepreneurship in 27 November 1998 (registration No. 1333/11).

Later on it was reregistered by Mirzo Ulugbek District Inspection of State Registration of Entrepreneurship in15 March 2000 (registration No.364).

Agency has established regional offices in all Project implementation regions of Uzbekistan.

The Project consists o f the following components:

Part A: Rural Enterprise Finance

34


1. Provision through selected (Participating Financial Intermediaries or PFIs) of Investment and Working Capital Sub-loans and Lease Financings and Micro Sub-loans to Beneficiaries

2. Provision of technical assistance for PFIs, MFIs, Leasing Companies and Beneficiaries, including capacity building for PFIs, MFIs and Leasing Companies and preparation of business plans for the Beneficiaries.

Part B: Irrigation and Drainage

1. Provision of goods, works and services for rehabilitation of on-farm and inter-farm irrigation and drainage systems.

2. Provision of goods, services and training for strengthening the capacity of WUAs and the Basin Administration of Irrigation Systems.

3. Support for improved irrigation and drainage technologies by provision of goods, services and training for demonstration purposes.

Part C: Rural Training and Advisory Services

1. Provision of training and workshops to farmers on various topics related to the farm management, including but not limited to the management of natural resources management, land fertility, integrated pest management, pesticide handling water management and water saving technologies.

2. Support to RRA to design training and workshops, including developing methodology, curricula, tests, feedback forms and assessment of training and workshops.

Part D: Project Management

1. Provision of goods, technical assistance and training to the RRA for the implementation of the Project, including financial management, procurement and disbursement.

The Grant consists o f the following parts:

Part 1: Promoting Renewable Energy Technologies

1. Support the dissemination of knowledge and information on renewable energy technologies by provision of goods, works and training for demonstration purposes in Selected Districts.

2. Provision of support to Beneficiaries for the carrying out of Renewable Energy Subprojects.

Part 2: Promoting Technologies and Practices to Mitigate Irrigated Land Degradation

1. Support the dissemination of knowledge and information on technologies and management practices for controlling and reversing the degradation of irrigated lands by provision of goods, works and trainings for demonstration purposes in Selected Districts.

2. Provision of training to eligible farmers and WCAs in Selected Districts on, inter alia, methods for efficiently using and scaling up the technologies and/or management practices.

Part 3: Advisory Services and Project Management

1. Provision of advisory services to, inter alia: (i) analyze and develop a regulatory framework aimed at supporting the adoption of renewable energy technologies; (ii) develop an improved system for monitoring carbon emissions produced by Renewable Energy Subprojects; (iii) update the wind and solar maps of the Recipient’s territory; and (iv) carry out financial feasibility studies on the adoption of renewable energy technologies.

2. Provision of training and workshops to eligible farmers and students in Selected Districts on, inter alia: (i) the technical issues and financial and management aspects related to the adoption of renewable energy technologies; and (ii) the legislation and regulations governing said technologies.

3. Support to RRA to design training and workshops on, inter alia, the impact of climate change on agribusinesses and the Recipient’s legislation and regulations governing renewable energy technologies.

4. Provision of support for the technical and administrative management of the Grant.

35


IDA funds, allocated for the implementation of the Project by Credit No.4433-UZ are intended to finance the following expenditures:

Category

A m ount o f the credit a llocated (Expressed in

SDR)

A m ount o f the cred it allocated

(Expressed in USD)

Percentage o f Expenditures to be |

Financed (Inclusive of Taxes)

1. Works 10 294 000 16 938 989 72%

2. Goods 2 490 000 4 097 346 100%

3. Consultants' Services, including Training and Audit 3 931 000 6 468 541 100%

4. (a) Sub-loans and Lease Financings under Part A.1 of the Project

18 924 000 31 140 000 100%

4. (b) Micro-sub-loans under Part A. 1 of the Project 3 040 000 5 015 000 100%

5. Incremental Operating Costs 1 272 000 2 093 102 100%

6. Unallocated 1 349 000 2 219 808

Total 41 300 000 67 960 000

IDA funds, allocated for the implementation of the Project by Credit No.5152-UZ are intended to finance the following expenditures:

Category

A m ount o f the credit allocated (Expressed in

SDR)

A m ount o f the credit a llocated

(E xpressed in USD)

Percentage o f Expenditures to be

Financed (Inclusive o f Taxes)

1. (a) Sub-loans and Lease Financings under Part A. 1 of the Project

26 400 000 40 000 000 100%

Total 26 400 000 40 000 000

GEF Grant funds, allocated for the implementation of the Project are intended to finance the following expenditures:

C ategoryA m ount o f the grant

allocated (E xpressed in USD)

Percentage o f Expenditures to be F inanced

(exclusive o f Taxes)1. Goods, Works, Consultant' services and Trainings 3 001 500 100%

2. Matching Grants 8 000 000 100%

3. Incremental operating costs 592 438 100%

4. Unallocated 1 105 062

Total 12 699 000

The Project will be implemented during 8 years (2008 - 2016 years).

2. The Project’s Accounting Policy

Special Purpose Financial Statements of the Project was prepared in accordance with requirements of International Public Sector Accounting Standards (hereinafter - IPSAS) on the cash flow basis.

2.1. Basis for the preparation of financial statements

Balance sheets, Statements of Receipts and Payments, Statements of Uses of Funds by Project Components, Special Accounts Statements and Notes to the Financial Statements are developed on cash flow basis to reflect operations conducted within the Project’s frames in accordance with below-stated principles.

2.2. Financing

The Project financing is recognized when suppliers of goods or services are paid by IDA in accordance with “Direct payments" procedures. Special account financing is recognized when funds are transferred to USD Special Account of the Project.

36

RURAL RESTRUCTURING AGENCY‘‘RURAL ENTERPRISE SUPPORT. PHASE II” PROJECTIDA Credit No.4433-UZ, IDA Credit No.5152-UZ, GEF Grant No.TFOI4400

2.3. Funds expenditures

Project expenditures are recognized and reported in the Special Purpose Financial Statements in cases when:

■ Payment is made to suppliers of goods, works and/or services either directly from IDA Credit Account or from Special Accounts of the Project;

■ When transferring cash to PFIs from the Project Designated (Special) Accounts;

■ Payments for financing travel expenditures, salaries to the Project’s employees, income tax of Project Staff, social charges and bank charges from Special and current accounts of the Project.

2.4. Reporting currency and exchange rate

The reporting currency of the Project is United States Dollars (USD). While developing the Project SpecialPurpose Financial Statements the following exchange rate principles were used:

■ To reflect receipts of funds and expenditures incurred in UZS in the financial statements such receipts and expenditures are converted into USD at the appropriate exchange rate of Central Bank of the Republic of Uzbekistan (CBU) effective on the date of the currency exchange;

■ IDA fund expenditures under the procedure of Direct payments in currency other than US dollar are exchanged into US dollars according to the Client Connection;

• UZS balances on Project’s bank accounts are revalued at the official exchange rate of CBU effectiveat the reporting date. As at 31 December 2015 the CBU’s official exchange rate was UZS 2,809.98/USD 1.

3. Presented Financial Statements

The Special Purpose Financial Statements have been prepared by the management of the Rural Restructuring Agency, which is responsible for coordination and management of the Project.

The Project Special Purpose Financial Statements have been signed by RRA General Director Mr. Najimov and Chief Accountant Ms. Gubieva on May 02, 2016.

Project’s Special Purpose Financial Statements for the reporting period are prepared in accordance with IPSAS based on the cash method in following composition:

3.1. Balance sheets

These reports includes data on the accumulated Project funds, financing and cumulative Project expenditures by IDA Credit No.4433-UZ, IDA Credit No.5152-UZ and GEF Grant NO.TF014400 as on December 31, 2015,

3.2. Statements of Receipts and Payments

During the reported period the Project was funded by:

IDA Credit No.4433-UZ in the amount of USD 6,545,638.54 where USD 6,191,114.73 as replenishment of the Project USD Special Account (Annex 5.1) and USD 354,523 81 are direct payments (Annex 9);

■ IDA Credit No.5152-UZ in the amount of USD 24,245,688.51 as replenishment of the Project USDSpecial Account (Annex 5.1);

■ GEF Grant No.TF014400 in the amount of USD 440,695.43 as replenishment of the Project USDSpecial Account (Annex 5.1);

GOU counter-financing (co-financing) under IDA Credit No.4433-UZ in the amount of USD2,000,740.16 to cover the costs of irrigation and drainage rehabilitation works and Single Social Charge from the Payroll (Annex 5.3).

In addition, this Statement reports the detailed break-down of Project expenditures by the cost category.

37

Expenditures of the Project for 2015 are as follows:

IDA Credit No.4433-UZ - USD 8,563,128.82;

IDA Credit N0.5152-UZ - USD 24,566,636.05;

GEF Grant NO.TF014400 - USD 471,174.12.

3.3. Statements on Uses of Funds by Project Components

These Statements report the detailed breakdown of Project expenditures for the reporting period by IDA Credit N0.4433-UZ, IDA Credit No.5152-UZ and GEF Grant NO.TF014400 by the Components of Project.

3.4. SOE Withdrawal Schedule - IDA Credits and GEF Grant

These Statements report detailed by the Applications for Withdrawal, reports the expenditure categories on the account of advanced payments.

3.5. Reconciliation Statement for Replenished and Recovered SOE Disbursements - IDA Credits and GEF Grant

These Statements report the total expenditures by the SOE procedures and the expenditure categories on the account of advanced payments.


3.6. Direct Payments Schedule - IDA Credit

This Statement lists direct payments by IDA under the Credit No.4433-UZ total for the reporting period is USD 354,523.81 (Annex 9).

4. Property, Plant and Equipment

The Property, Plant and Equipment (PPE) of the Project consist of vehicles, computers and furniture purchased by the Agency for the use during the period of the Project implementation The movement of PPE for 2015 is summarized in the table below:

USD

Items Balance as at 01 January 2015Purchased in

2015Disposed in

2015Balance as at 31 December 2015

Equipment 1 119 0 0 1 119Office equipment 30 562 0 0 30 562Vehicles 7 773 0 0 7 773Total 39 454 0 0 39 454

No purchase and disposing of PPE was made during the current period of the Project implementation.

5. Cash and cash equivalents

5.1. Special accounts of the Agency

The Project has seven Special accounts for financing of eligible expenditures in USD and UZS. These accounts were opened in JSCMB Ipoteka Bank and NB FEA RUz. For the period from 01 January 2015 to 31 December 2015 Special accounts were used the payment of incremental operating costs, services of consultants, for payments to suppliers of goods and services, as well as for financing of credit line.

During the reported period IDA credit proceeds for the amount of USD 6,191,114.73 by Credit No.4433-UZ; USD 24,245,688.51 by Credit No.5152-UZ; and GEF grant proceeds by Grant No.TF014400 in the amount of USD 440,695.43 were received to Project USD Special Account.

38

RURAL RESTRUCTURING AGENCY“RURAL ENTERPRISE SUPPORT. PHASE II” PROJECTIDA Credit No.4433-UZ, IDA Credit No.5152-UZ, GEF Grant No.TFOI4400

The balances of the Agency’s bank account are provided in the following table:

USD Thousand UZS

Balances as at 01 January 2015USD Special Account (IDA Credit No.4433-UZ) 1,459,454.31 3,535,382.12

USD Special Account (IDA Credit No.5152-UZ) 1.741,393.48 4,218,351.57

USD Special Account (GEF Grant No.TF014400) 1,945,274.00 4,712,231.74

UZS Special Account (IDA Credit No.4433-UZ) 314 04 760.74

UZS Special Account (IDA Credit No.5152-UZ) 396.89 961.41

UZS Special Account (GEF Grant No.TF014400) 0.67 1.61

Total 5,146,833.39 12,467,689.19

...................................................................................................................................................................................................Balances as at 31 December 2015USD Special Account (IDA Credit No.4433-UZ) 1,439,097.28 4,043,834.57

USD Special Account (IDA Credit No.5152-UZ) 1,420,721 29 3,992,198 41

USD Special Account (GEF Grant No.TF014400) 1,914,707.41 5,380,289.53

UZS Special Account (IDA Credit No.4433-UZ) 3,891.74 10,935.70

UZS Special Account (IDA Credit No.5152-UZ) 103.10 289.70

UZS Special Account (GEF Grant No.TF014400) 85,18 239,36

Total 4,778,606.00 13,427,787.27

5.2. Special accounts of RRA regional offices

The Project has seven UZS Special accounts of RRA regional offices. During the period from 01 January 2015 to 31 December 2015 UZS Special accounts were used for the payment of Project expenditures.

The balances of RRA regional offices’ bank account are provided in the following table:

USD Thousand UZSBalances as at 01 January 2015UZS Special Account of regional office RRA Andijan 29.94 72.53UZS Special Account of regional office RRA Bukhara 0.82 1.98UZS Special Account of regional office RRA Qarshi 24.99 60.53UZS Special Account of regional office RRA Samarkand 0.03 0.06UZS Special Account of regional office RRA Syrdarya 0.31 0.76UZS Special Account of regional office RRA Tashkent 26.31 63.74UZS Special Account of regional office RRA Fergana 32.61 79.00Total 115.01 278.60

Balances as at 31 December 2015UZS Special Account of regional office RRA Andijan 1.54 4.32UZS Special Account of regional office RRA Bukhara 1.21 3.41UZS Special Account of regional office RRA Qarshi 48 47 136.21UZS Special Account of regional office RRA Samarkand 0.03 0.10UZS Special Account of regional office RRA Syrdarya 0.29 0.82UZS Special Account of regional office RRA Tashkent 0 82 2 29UZS Special Account of regional office RRA Fergana 1 68 4.71Total 54.04 151.86

5.3. Co-financing Accounts for the Government share

Co-financing Accounts are established in Treasury of the Ministry of Finance of the Republic of Uzbekistan and its regional offices used to cover the Single Social Payments (SSP) expenses, funded by the Government counter-financing.

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RURAL RESTRUCTURING A G ENCY“RURAL ENTERPRISE SUPPORT. PHASE 11" PROJECTIDA Credit No-4433-UZ, IDA Credit N o.5152-UZ, GEF Grant No.TFO I4400

Financing on these accounts for 2015 presented in the following table:USD

Office o f Project SSP am ount

Agency 52,638.04

Regional office RRA Andijan 15,023.20

Regional office RRA Tashkent 14,440.58

Regional office RRA Bukhara 15,646.64

Regional office RRA Qarshi 14,446.02

Regional office RRA Samarkand 14,458.47

Regional office RRA Syrdarya 15,110.17

Regional office RRA Fergana 14,360.91

Total 156,124.03

Additionally there are co-financing accounts opened in the Uzbekistan Treasury to cover cost of irrigation and drainage rehabilitation works financed by the GOU with 2015 total of USD 1,844,616.13 (pis. see Note 8).

6. Credit line

Sub-lending agreements were signed with number of Uzbek Commercial Banks (Participating Financial Intermediaries or PFIs) in line with the terms and provisions of the Financing Agreement No.5152-UZ in order to facilitate implementation of the «Rural Financing» Component (A).

In 2015 Project has provided financing to the following PFIs under above sub-lending agreements:USD

Com m ercial bank Credit region Credit objective Credit am ount

GK "HALKBANK" Tashkent Cold storage 61,421.79

GK "HALKBANK" Bukhara Greenhouse and vegetable farming 121,612.09

GK "HALKBANK" Samarkand Greenhouse and vegetable farming 40,255.22

GK "HALKBANK" Kashkadarya Greenhouse and vegetable farming 80,314 83 I

GK "HALKBANK" Tashkent Irrigation 48,073.84

GK "HALKBANK" Fergana Horticulture and vineyards 88,135.38

GK "HALKBANK" Tashkent Horticulture and vineyards 77,769.80

GK "HALKBANK" Fergana Cold storage 149,999.61

GK "HALKBANK" Tashkent Agro-processing and packaging 49,092.38




GK "HALKBANK" Bukhara Greenhouse 117,389.26

G K " HALKBANK" Fergana Horticulture and vineyards 38,174.05

GK "HALKBANK" Fergana Horticulture and vineyards 39,056.09

GK "HALKBANK" Bukhara Greenhouse and vegetable farming 147,562.50

GK "HALKBANK" Fergana Greenhouse and vegetable farming 148,438.68


GK "HALKBANK" Tashkent Greenhouse and vegetable farming 69,202.56

GK "HALKBANK" Djizzakh Agro-processing and packaging 86,503.19

GK "HALKBANK" Djizzakh Cold storage 144,000.00

GK "HALKBANK" Samarkand Greenhouse and vegetable farming 16,885.22

GK "HALKBANK" Samarkand Horticulture and vineyards 500,000.00GK "HALKBANK" Samarkand Horticulture and vineyards 500,000.00GK "HALKBANK" Fergana Greenhouse and vegetable farming 11,512.65GK "HALKBANK" Fergana Cold storage 92,873.08

GK "HALKBANK" Samarkand Horticulture and vineyards 500,000.00GK "HALKBANK" Bukhara Cold storage 1,000,000.00

40

RURAL RESTRUCTURING AGENCY‘‘RURAL ENTERPRISE SUPPORT. PHASE II" PROJECTIDA Credit No.4433-UZ, IDA Credit No.5152-UZ, GEF Grant No.TFOI4400

GK "HALKBANK" Kashkadarya Greenhouse and vegetable farming 32,513.24

GK "HALKBANK" Tashkent Horticulture and vineyards 73,893 72


GK "HALKBANK" Bukhara Horticulture and vineyards 131,591.45


GK "HALKBANK" Andijan Cold storage 72,715.90


GK "HALKBANK" Samarkand Irrigation 171,664.70

JSCB "QISHLOQ QURILISH BANK" Samarkand Horticulture and vineyards 394,281.00

JSCB "QISHLOQ QURILISH BANK" Fergana Cold storage 98,000.00

JSCB "QISHLOQ QURILISH BANK" Fergana Cold storage 359,300.00

JSCB "QISHLOQ QURILISH BANK" Samarkand Cold storage 497,000.00

JSCB "QISHLOQ QURILISH BANK" Samarkand Vegetable farming 500,000.00

JSCB "QISHLOQ QURILISH BANK" Samarkand Greenhouse and vegetable farming 500,000.00

JSCB "QISHLOQ QURILISH BANK" Syrdarya Cold storage 72,000.00

JSCB "QISHLOQ QURILISH BANK" Samarkand Horticulture and vineyards 500,000.00

JSCB "QISHLOQ QURILISH BANK" Tashkent Cold storage 73,430.00

JSCB "QISHLOQ QURILISH BANK" Samarkand Cold storage 700,000.00

JSCB "QISHLOQ QURILISH BANK" Bukhara Cold storage 240,000.00

JSCB "QISHLOQ QURILISH BANK" Andijan Cold storage 300,000.00

JSCB "QISHLOQ QURILISH BANK" Syrdarya Agricultural machinery 134,000.00

JSCB "QISHLOQ QURILISH BANK" Bukhara Greenhouse and vegetable farming 200,000.00

JSCB "QISHLOQ QURILISH BANK" Syrdarya Greenhouse and vegetable farming 204,430.00

JSCMB "IPOTEKA-Bank” Andijan Cold storage 149,896.00

JSCMB "IPOTEKA-Bank" Samarkand Cold storage я 100,000.00

JSCMB "IPOTEKA-Bank" Tashkent Greenhouse and vegetable farming 500,000.00

JSCMB "IPOTEKA-Bank" Andijan Cold storage 498,140.00

JSICB "IPAKYULI" Tashkent Cold storage 939,508.00

JSICB "IPAKYULI" Samarkand Cold storage 1,000,000.00

JSICB "IPAKYULI" Samarkand Horticulture and vineyards 476,609.10


JSICB "IPAKYULI" Fergana Cold storage 987,500.00

JSICB "IPAKYULI" Andijan Cold storage 841,000.00

JSICB "IPAKYULI" Samarkand Cold storage 100,000.00

JSICB "IPAKYULI" Samarkand Cold storage 120,000.00


JSC "O'ZSANOATQURILISHBANK" Samarkand Cold storage 150,000.00

JSC "O'ZSANOATQURILISHBANK" Tashkent Greenhouse and vegetable farming 500,000.00

JSC "O’ZSANOATQURILISHBANK" Bukhara Greenhouse and vegetable farming 440,000.00

JSC "O’ZSANOATQURILISHBANK" Tashkent Horticulture and vineyards 499,980.64

JSC "O'ZSANOATQURILISHBANK" Tashkent Horticulture and vineyards 499,881.57

JSC "O'ZSANOATQURILISHBANK" Tashkent Cold storage 910,137.79

JSC "O'ZSANOATQURILISHBANK" Tashkent Greenhouse and vegetable farming 500,000.00JSC "O'ZSANOATQURILISHBANK" Tashkent Greenhouse and vegetable farming 500,000.00JSC "TURONBANK" Djizzakh Cold storage 239,820.61JSC "TURONBANK" Djizzakh Cold storage 239,820.61JSC "TURONBANK" Kashkadarya Greenhouse and vegetable farming 53,726.43JSC "TURONBANK" Tashkent Horticulture and vineyards 136,000.00JSC "TURONBANK" Tashkent Cold storage 497,845.00JSC "TURONBANK" Samarkand Cold storage 392,560.00JSC "TURONBANK" Tashkent Cold storage 141,462.45

41


JSC "TURONBANK" Kashkadarya Cold storage 149,795.17

JSC "TURONBANK" Tashkent Cold storage 215,450.00

JSC "TURONBANK" Djizzakh Agro-processing and packaging 48,693.58

JSC "TURONBANK" Kashkadarya Greenhouse and vegetable farming 26,158.38 I

JSCB "HAMKORBANK" Andijan Cold storage 203,225.60

JSCB "HAMKORBANK" Andijan Horticulture and vineyards 39,140.84


JSCB "HAMKORBANK" Bukhara Greenhouse and vegetable farming 160,246.14


JSCB "HAMKORBANK" Fergana Horticulture and vineyards 76,573.34

JSCB "HAMKORBANK" Fergana Greenhouse and vegetable farming 119,645.85

JSCB "HAMKORBANK" Bukhara Greenhouse and vegetable farming 159,189 41

JSCB "HAMKORBANK" Djizzakh Horticulture and vineyards 39,639.60

JSCB "HAMKORBANK" Tashkent Agricultural machinery 135,000.00



JSCB "HAMKORBANK" Andijan Greenhouse and vegetable farming 55,358.67

JSCB "HAMKORBANK" Bukhara Greenhouse and vegetable farming 112,034.36

JSCB "HAMKORBANK" Fergana Cold storage 128,000.00

Total cred its 24,549,031.00

Bank charges of credit line services 17,605.05

Total expenditures by com ponent 24,566,636.05

7. Matching Grants

According to the Terms & Provisions of the GEF Grant Agreement, the Subsidiary Grant Agreements were signed with the Uzbekistan commercial banks (PFIs) with the objective to implement the Project Component 1 «Investment for Sustainable Technologies».

In 2015 under the Subsidiary Grant Agreements the Project has disbursed its financing to the following PFIs:USD

Com m ercial bank G rant region G rant objective Grant am ount

JSICB "IPAKYULI" Tashkent Renewable energy 60,492.00

GK "HALKBANK" Samarkand Renewable energy 25,327.82

JSC "TURONBANK" Kashkadarya Renewable energy 39,237.57

Total grants 125,057.39

8. Irrigation and drainage system rehabilitation works

Works for rehabilitation of irrigation and drainage system were contracted in order to facilitate the implementation of Project Component (B) «Irrigation and drainage». In line with the terms and provisions of the Financing Agreement No.4433-UZ, the total contracted costs of these works are covered in proportion: 72% by IDA and 28% by GOU. The following payments were made:

USD

Contractor C ontract (No., date) Work regionPaym ents

o f IDAPaym ents o f G overnm ent

............................Total

paym ents

AND TEX-NAZ RESP2/CW/NCB/09/02-16 UZ dd. November 7, 2014

Andijan 77,061.83 36,453.06 113,514.89

Far Maftun Qurilish Montaj RESP2/CW/NCB/09/02-09 UZ dd. October 28, 2014 Fergana 229,861.97 100,89642 330,758.39

AND TEX-NAZ RESP2/CW/NCB/09/20 UZ dd. November 7, 2014 Andijan 89,149.31 42,516.46 131,665.77

42


Amir ServisRESP2/CW/NCB/09/18 UZ dd. September 12, 2013

Syrdarya 47,131.16 17,212.78 64,343.94

61-AvtokorxonaRESP2/CW/NCB/09/02-01 UZ dd. May 01, 2014

Kashkadarya 150,479.09 57,279.37 207,758.46

Oqdaryo Bunyodkor Quruvchi

RESP2/CW/NC B/09/02-18 UZ dd. September 18, 2013

Syrdarya 208,555.61 92,314.34 300,869.95 |

Sahovat unumiRESP2/CW/NCB/09/02-15 UZ dd. September 16, 2014

Andijan 217,583.18 92,600.59 310,183.77

KogonNeftgazEnergoService

RESP2/CW/NCB/09/02-22 UZ dd. December 02, 2014

Tashkent 121.813.57 51,355.46 173,169.03...................... i

Olot Irrigatsiya va melioratsiya

RESP2/CW/NCB/09/02-25 UZ dd. November 12, 2014

Bukhara 288,556.05 134,612.57 423,168.62

Yangiqo'rg'onFayzQurilishRESP2/CW/NCB/09/02-03 UZ dd. September 10, 2014

Kashkadarya 220,958.11 96,319.78 317,277.89

Smart Trans GroupR E SP2/CW/NC B/09/02-04 UZ dd. December 19, 2014

Kashkadarya 103,786.32 53,108.55 156,894.87

Sogda Zarafshon Suv Qurilish

RESP2/CW/NC B/09/02-17 UZ dd. October 06, 2014

Samarkand 103,982.86 50,508.60 154,491.46

Just MomentRESP2/CW/NCB/09/02-11 UZ dd. October 28, 2014

Fergana 235,555.97 83,482.66 319,038.63

MPP "Turon"RESP2/CW/NCB/09/02-02 UZ dd. October 06, 2014

Syrdarya 296,178.77 112,519.06 408,697.83

SuvlnshoatTamirRESP2/CW/NCB/09/02-14 UZ dd. September 16, 2014

Andijan 117,760.55 49,590.32 167,350.87

KogonNeftgazEnergoService

RESP2/CW/NCB/09/02-10 UZ dd. February 18, 2015

Tashkent 348,804.38 118,831.52 467,635.90


RESP2/CW/NCB/09/17 UZ dd. June 10, 2013

Bukhara 41,889.99 8,903.62 50,793.61

MPP "Turon"RESP2/CW/NCB/09/19 UZ dd. December 26, 2013

Samarkand 9,287.51 9,287.51

"Saroy Ziynati"RESP2/CW/NCB/09/05 UZ dd. August 08, 2013

Andijan 20,754.69 7,957.81 28,712.50

MPP "Turon"RESP2/CW/NCB/09/04 (Lot-2) UZ dd. April 01, 2014

Syrdarya 30,445.83 9,534.59 39,980.42

MPP "Turon"RESP2/CW/NCB/09/04 (Lot-1) UZ dd. April 01, 2014

Syrdarya 34,053.98 2,464 14 36,518.12

"QIYAMOVA OZODA" RESP2/CW/NCB/09/02-13 UZ dd. March 20, 2015

Kashkadarya 277,954.25 102,458 93 380,413.18


RESP2/CW/NCB/09/02-19 UZ dd. November 14, 2014

Samarkand 287,699.75 104,496.44 392,196.19

SKS BIZNES GROUP RESP2/CW/NC B/09/02-06 UZ dd. March 06, 2015 Samarkand 86,384.79 24,728.92 111,113.71

SKSBIZNES GROUPRESP2/CW/NCB/09/02-05 UZ dd. March 06, 2015 Samarkand 26,936.47 10,316 18 37,252.65

"MaxsusMexanizaciyalashgan suv qurilish"

RESP2/CW/NCB/09/13 UZ dd. April 02, 2013

Samarkand 7,393.01 2,723.16 10,116.17

"Muhammad Mumin" RESP2/CW/NCB/09/02-12 UZ dd. March 20, 2015

Syrdarya 228,487.94 75,250.24 303,738.18


RESP2/CW/NCB/09/02-26 UZ dd. December 02, 2014 Bukhara 218,307.30 84,444 92 302,752.22

"Agro Bunyodkor Kurilish" RESP2/CW/NCB/09/15 UZ dd. December 02, 2013 Tashkent 5,431.05 2,030.37 7,461.42

Tong suv qurilish RESP2/CW/NCB/09/11 UZ dd. April 02, 2013

Kashkadarya 12,510.55 12,510.55

Just Moment RES P2/CW/N С B/09/09 UZ dd. April 15, 2013 Fergana 20,049.03 7,469.39 27,518.42

MPP "Turon" RESP2/CW/NCB/09/02-20 UZ dd. January 16, 2015 Samarkand 252,728.61

..............................83,846.99 336,575.60


RES P2/C W/NC B/09/02-21 UZ dd. February 18, 2015 Samarkand 237,847.49 82,512.27........................

320,359.76

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RURAL RESTRUCTURING AGENCY“RURAL ENTERPRISE SUPPORT. PHASE II” PROJECTIDA Credit No.4433-UZ, IDA Credit No.5152-UZ, GEF Grant No.TFOI4400


RESP2/CW/NCB/09/16 UZ dd. Auqust 10, 2015

Tashkent 115,204.67 115,204.67 |

SuvlnshoatTamirRES P2/C W/N С B/09/02-28 UZ dd. Auqust 13, 2015

Andijan 66,151.78 66,151.78

Turakorgan texservis-lizing MTP

RESP2/CW/NCB/09/03 UZ dd. April 15, 2013

Fergana 2,771.73 1,026.71 3,798.44

Tong suv qurilishRESP2/CW/NC B/09/21 UZ dd. August 13, 2015

Kashkadarya 92,288.97 34,689.97 126,978.94

Turakorgan texservis-lizing MTP

RESP2/CW/NCB/09/14 UZ dd. June 10, 2013

Fergana 9,913.85 3,726.22 13,640.07

Sahovat unumiR ESP2/CW/NС В/09/12 UZ dd. March 12, 2013

Andijan 16,811.57 6,433.76 23,245.33

Sahovat unumiRESP2/CW/NCB/09/02-29 UZ dd. August 13, 2015

Andijan 24,264.87 24,264.87

"Saroy Ziynati"RESP2/CW/NC B/09/02-30 UZ dd. November 18, 2013

Andijan 33,029.83 33,029.83

Total 5,015,818.20 1,844,616.13 6,860,434.33

9. Direct payment procedures

The List of Direct payments made by the IDA by Credit No.4433 for the period from January 01, 2015 to December 31, 2015 is summarized below:

USDNo. Application Supp lier C ategory A m ount

90 72,532.74

91 24,700.53

93 6,646.63

94 14,269.27

95 14,146.00

96BRL Ingenieri

(France)

6,879.40

99 Consultants' Services, including Training and Audit 26,283.05

100 24,055.47

102 13,253.49

103 5,895.40

106 74,429.73

107 45,685.85

108 25,746.25

Total 354,523.81

10. Taxes

Services and goods acquired from Credits and Grant funds are exempted from all taxes and levies based on Tax Code of the Republic of Uzbekistan, except Single Social Payments based on payroll fund, 7% deduction to Pension Funds and individual income taxes deducted from salaries of Agency’s employees.

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World Bank Document...Dec 31, 2015 · 2a, Chust Street, Tashkent, 100077, Republic of Uzbekistan...

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