“Second Public Employment for Sustainable Agriculture and Water Resources Management Project” Grant No. H823-TJ, Grant No. TF 013997, Grant No. D081-TJ, Credit No. 5697-TJ The project financial statements for the year ended December 31, 2017 and independent auditors’ report “SECOND PUBLIC EMPLOYMENT FOR SUSTAINABLE AGRICULTURE AND WATER RESOURCES MANAGEMENT PROJECT” GRANT NO. H823-TJ, GRANT NO. TF 013997, GRANT NO. D081-TJ, CREDIT NO. 5697-TJ TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 2 INDEPENDENT AUDITORS’ REPORT 3-5 THE PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017: Summary of funds received and expenditures paid 6 Summary of expenditures paid by project components 7 Notes to the project financial statements 8-20 STATEMENTOF MANAGEMENT'S RESPONSIBILITIES FORTHE PREPARATION AND APPROVALOF THE PROJECTFTNANCIALSTATEMENTS FORTHEYEARENDED DECEMBER 31,2017 The following statement, which shouldbe readin conjunctionwith the independent auditors'responsibilities is madewith a view to distinguishtherespective responsibilities of managementandthoseof theindependent auditors in relation to the project financial statementsof the Project "second Public Employment for Sustainable Agricultwe and Water Resources ManagementProject", Grant No. H823-TJ, Grant No. TF 013997 , GrantNo. D08 I -TJ, Credit No. 5697-TJ(the "Project"). Management is responsiblefor the preparationof the project financial statements that presentfairly, in all material respects,the summary of funds received and expenditurespaid and the summary of expenditures paid by project componentsof the Project for the year endedDecember 31, 2017 in accordance with InternationalPublic SectorAccountingStandard "FinancialReportingUnderthe CashBasisof Accounting" (the"IPSAS") issued by the International Public AccountingStandards Boardof the International Federation of Accountants and the World Bank's FinancialManagement SectorBoard's "Guidelines:Annual Financial Reporting and Auditing for world Bank FinancedActivities" (the "wB Guidelines"). . In preparingthe project financial statements, management is responsible for: o selectingsuitableaccounting policies and applyingthem consistently; . makingjudgments and estimatesthat are reasonableand prudent; ' stating whether IPSAS and WB Guidelineshave been followed, subject to any material departures disclosed and explainedin the project financial statements; and e preparing the project financial statements on a going concernbasis,unlessit is inappropriate to presgme that the Project will continue its activity for the foreseeablefuture. Management is alsoresponsiblefor: r designing, implementing and maintaining effective and sound system of internal control and for revealingrisks in systemofinternal control; o maintainingproper accounting recordsthat disclose,with reasonableaccuracyat any time, the financial position of the Project, and which enable them to ensurethat the project financial statementsof the Projectcomply with IPSAS and WB Guidelines; ' compliancewith laws and regulationsof the Republic of Tajikistan, accountingsystemof the project andthe requirements of the World Bank; o taking suchstepsas are reasonably availableto them to safeguardthe assetsofthe project; and o detecting and preventingfraud and otherirregularities. The project financial statements for the year endedDecember31,2017 were approvedand authorizedfor issueon June 14,2018 by the management of the Project. On behalf of the Management: Yu. Narzililoev 14,2018 June Republicof Tajikistan Dushanbe, theRepublic of Tajikistan ..SECOND PUBLICEMPLOYMENT FORSUSTAINABLE AGRICULTURE AND WATER RESOURCES MANAGEMENT PROJECT'' GRANTNO. H823-TJ, GRANTNO. TF 013997, GRANTNO. DO81.TJ, CREDITNO.5697.TJ SUMMARY OFFUNDS RECEIVED ANDEXPENDITURES PAID FOR THE YEAR ENDEDDECEMBER31,2017 (inUSdollarsl Notes For the year For the year Cumulative ended ended December31, December31. 2017 2016 Openingbalance 4 2,323,311 2,397,459 Funds received IDA GrantH823-TJ 6 3,117,256 5,869,395. 16,442,760 GPAIS Grant TF13997 6 4,154,675 6,723,033 23,925,993 IDA GrantDO8I-TJ 6 2,710,937 1,610,339 4,321,275 Total funds received 9,982,868 14,202,766 44,590,01g Other income 1,097 4,029 32,171 Total receipts 9,9g3,965 14,206,795 44,622,1g9 Project expenses Works underpart A 5 7,056,059 9,569,0g1 2g,775,922 Goods,non-consulting services,and consultancyservices 5 2,754,214 3,706,990 10,915,g03 Works under Part B and trainine 5 434,961 6g1,053 l,gg4,73l Operatingcosts 5 293,748 301,083 1,12g,457 Total project expenses 10,539,992 14,259,197 42,914,913 Other expenses 1,640 2,997 30,440 Foreignexchange(gain)/loss (3,629) 9,858 6.554 Closing balance 4 1J70.282 ? ??? ?t _ 1,770,292 Chief accountant June14,2018 of Tajikistan Dushanbe, the Republic of Tajikistan es 8-20 form an integral part ofthe project financial statemenrs. auditors' report is on pages3-5. ..SEGOND PUBLIG EMPLOYMENT FORSUSTAINABLE AGRICULTURE ANDWATER RESOURCES MANAGEMENT PROJECT' GRANTNO. H823.TJ, GRANTNO. TF 013997, GRANTNO. DO8l.TJ,CREDITNO. 5697-TJ SUMMARY OFEXPENDITURES PAIDBY PROJECT COMPONENTS FORTHEYEARENDEDDECEMBER 31,2017 For the year For theyear Cumulative ended ended December31, December 31, 2017 2016 Component I. Public works and rehabilitationof irrigation and drainageinfrastructure 8,141,015 11,704,942 Component II. Assistance in water resource management, including technicalassistance for policy and institutional reform 1,922,095 1,966,651 Component III. Project implementation 475,872 586,604 10,538,992 14,259,197 Chiefaccountant 14,2018 June Dushanbe, theRepublic of Tajikistan form an integral part ofthe project financial statements. ' report is on pages 3-5. “SECOND PUBLIC EMPLOYMENT FOR SUSTAINABLE AGRICULTURE AND WATER RESOURCES MANAGEMENT PROJECT” GRANT NO. H823-TJ, GRANT NO. TF 013997, GRANT NO. D081-TJ, CREDIT NO. 5697-TJ NOTES TO THE PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 (in US dollars) 1. GENERAL INFORMATION According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated February 5, 2013, the IDA provided a Grant No. H823-TJ in the amount of 11,700,000 Special Drawing Rights to the Republic of Tajikistan. In accordance with the Grant Agreement between the Republic of Tajikistan and the Global Agriculture and Food Security Multi-Donor Trust Fund (the “GPAFS”) dated February 5, 2013, GPAFS Trust Fund provided Grant No. TF 013997 in the amount of 27,900,000 US dollars to the Republic of Tajikistan. According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated August 7, 2015, the IDA provided a Grant No. D081-TJ in the amount of 3,900,000 Special Drawing Rights to the Republic of Tajikistan. According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated August 7, 2015, the IDA provided a Credit No. 5697-TJ in the amount of 4,700,000 Special Drawing Rights to the Republic of Tajikistan. The Grants and the Credit were provided for implementation of the Project “Second Public Employment for Sustainable Agriculture and Water Resources Management Project” (the “Project”). Project purpose The objective of the Project is to improve food security:  In the short-run – by creation of temporary workplaces;  In the mid-run – by increasing crop production and farmers’ income due to the rehabilitation of the irrigation and drainage infrastructure;  In the long-run – by increasing the efficiency of water resources management. Initially the Project had to be implemented during 2013-2018, however in accordance to amendment to financing agreements No.H823-TJ and TF 013997 and the financing agreements No. D081-TJ and No. 5697-TJ the closing date of the Project was extended until February 28, 2020. The Project was also restructured in response to the devastating floods in the region of Gorno-Badakhshan Autonomous Oblast based on the proposal of the Government of the Republic of Tajikistan. The Project comprises 3 components: 1. Component I: Public works and rehabilitation of irrigation and drainage infrastructure; 2. Component II: Technical assistance for the purpose of Improvement of the Strategy and Implementation of Institutional reform in the sphere of Water Resources Management; 3. Component III: Project implementation. Component I: Public works and rehabilitation of irrigation and drainage infrastructure. This component consists of 3 subcomponents: 8 Subcomponent Ia: This subcomponent finances creation of short-term employment for renovating and rehabilitating оn - fаrm irrigation canals in areas with food insecurity and the provision of equipment. This subcomponent finances manual cleaning of secondary and tertiary irrigation canals in fourteen districts of Khatlon region (A. Djomi, Dj. Rumi, Djilikul, Vose, Khuroson, N.Khusrav, MSA Khamadoni, Javon, Pyandj, Qabodiyon, Shahritus, Vakhsh, Qumsangir, and Dangara) and three districts of Republican Subordination (Vahdat, Rudaki and Hissar). Additional costs include payment of taxes which are withheld from the employer to the social security fund (25% of salary), as well as procurement and allocation of instruments of labor to perform manual works, materials and services. Subcomponent Ib: This subcomponent finances the lease or procurement of machinery and equipment (excavators, bulldozers and equipment for subsurface drainage), the procurement and installation of an irrigation flow regulating valves, the reconstruction of buildings, repair of water supply systems, pumping stations, and vertical drainage and wells, mechanical clearing of collector and drainage network. Subcomponent Ic: This subcomponent finances the emergency restoration works of flood channel, which flows through the city of Kulyab and protects it from floods and reduces the associated risks for agricultural land and irrigation systems, and emergency works on Pyanj river right bank in Hamadoni district and Gund river left bank in Shughnon district. Component II: Assistance in water resources management, including technical assistance in implementation of legislative and institutional reform. This component includes the following subcomponents: Subcomponent IIa: This subcomponent finances all activities associated with further improvement of the regulatory framework to introduce the integrated water resources management system and promote reforms in the water sector. It focuses on further development of the legal basis for integrated water resource management and water sector reform, preparation of a national integrated water resource management strategy to identify priorities for improving water resource management in Tajikistan and establishing a national water information system. Subcomponent IIb: This subcomponent finances provision of technical assistance and training to implement river basin management in Kafernigan river basin. Subcomponent IIc: The Project will help the Government of Republic of Tajikistan to form autonomous, financially independent entities – suppliers of hydrotechnical melioration services, responsible for management of interfarm hydrotechnical assets and water supply to Water consumers association; transform existing regional and district institutions into the new institutional units; and building and strengthening the capacity of Water consumers association. 9 Component III: Project implementation This component ensures support in establishment and activities of Project Management Unit (the “PMU”) in Dushanbe and regional Project Coordination Unit (the “PCU”) in Kurgan -Tube city and the region of Rudaki. Project management The Project is implemented by Fergana Valley Water Resource Management Project Management Unit (the “PMU”) that has the status of a legal entity and was established based on the Decree of the Government of the Republic of Tajikistan. Duration of the Project is from February 5, 2013 to February 28, 2020. 2. PRESENTATION OF THE PROJECT FINANCIAL STATEMENTS Basis of preparation These project financial statements have been prepared in accordance with the International Public Sector Accounting Standard (the “IPSAS”) “Financial Reporting under the Cash Basis of Accounting” issued by the Public Sector Committee of the International Federation of Accountants, and incorporate the following principal accounting policies, which have been consistently followed in all material respects and comply with the World Bank’s Financial Management Sector Board’s “Guidelines: Annual Financial Reporting and Auditing for World Bank Financed Activities” (the “WB Guidelines”). Under the cash basis approach income (or expenditure) is recognized when cash is received (or paid) irrespective of when goods or services are received or provided. The Project’s approved budget disclosed by categories of expenses is not publicly available and as such comparison of budget and actual amounts is not presented. These project financial statements consist of:  Summary of funds received and expenditures paid;  Summary of expenditures paid by project components;  Notes to the project financial statements, including short description of main statements of accounting policy and other descriptive notes. The reporting currency of these project financial statements is US dollars (the “USD”). 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash basis of accounting The project financial statements are prepared on a cash basis of accounting. The cash basis of accounting recognizes transactions and events only when cash (including cash equivalents) is received or paid by the Project. The project financial statements prepared under the cash basis provide readers with information about the sources of cash raised during the period, the purposes for which cash was used and the cash balances at the reporting date. The measurement focus in the project financial statements is balances of cash and changes therein. 10 Foreign currency Operations in foreign currency initially are counted in functional currency by the official currency exchange rate settled by the serving bank on a date of last conversion. Funds received are translated into US dollars at official exchange rate of Special Drawing Rights (the “SDR”) at the date of funds receipt. All payments made in local currency are translated into US dollars at the official exchange rate defined by the serving bank, at the date of last conversion. Monetary assets and liabilities expressed in foreign currency are converted to functional currency at official exchange rate on a date settled by the serving bank. All foreign exchange differences resulted from maturity or recounting are included in the summary of funds received and expenditures paid. Non-monetary items are valued according to their historic cost in foreign currency, which are recalculated on rates of the initial operation date. Cash and cash equivalents Cash and cash equivalents include cash on hand and due from banks, which can be converted to the corresponding amount of cash in the short term. Taxes Calculation and payment of personal income tax and social security contributions from income of local staff and consultants is made in accordance with the requirements and rates of the Tax Code of the Republic of Tajikistan and relevant legislation of the Republic of Tajikistan. Project expenses The expenses are recorded in the period when they were actually paid. Sources of funds The funds were provided by the World Bank to the Project by advance and replenishment of designated account. 4. CASH AND CASH EQUIVALENTS Cash and cash equivalents as at December 31, 2017 and 2016 comprise: Source of financing December 31, December 31, 2017 2016 Designated account Grant No. TF13997 985,051 1,196,059 Designated account Grant No. H823-TJ 520,256 780,688 Designated account Grant No. D081-TJ 260,239 318,947 Transit account Grant No. H823-TJ 1,848 20,956 Transit account Grant No. TF13997 369 2,388 Cash on hand Grant No. H823-TJ 100 236 Cash on hand Grant No. TF13997 14 131 Transit account Grant No. D081-TJ 15 12 Tender accounts 2,386 3,890 Account for interest accrued 4 4 1,770,282 2,323,311 11 5. PROJECT EXPENSES Project expenses by components are presented in the summary of expenditures paid by project components. Project expenses on major categories are presented in the summary of funds received and expenditures paid. Breakdown of project expenses by categories and nature is presented as follows: Works under part A For the year ended December 31, 2017 For the year ended December 31, 2016 Cumulative Grant No. Grant No. Grant No. Grant No. Grant No. TF Grant No. Grant No. Grant No. Grant No. H823-TJ TF 013997 D081-TJ H823-TJ 013997 D081-TJ H823-TJ TF 013997 D081-TJ Mechanized works 1,513,222 1,699,562 1,319,156 1,948,240 2,116,166 - 7,733,455 8,120,306 1,319,156 Hand works - 479,900 538,454 - 1,105,728 683,067 - 5,159,839 1,221,521 Restoration works of flood channel - Tebalai river 1,044,228 461,537 - 2,666,029 1,049,851 - 3,710,257 1,511,388 - 2,557,450 2,640,999 1,857,610 4,614,269 4,271,745 683,067 11,443,712 14,791,533 2,540,677 Works under part B and trainings For the year ended December 31, 2017 For the year ended December 31, 2016 Cumulative Grant No. Grant No. Grant No. Grant No. Grant No. TF Grant No. Grant No. Grant No. Grant No. H823-TJ TF 013997 D081-TJ H823-TJ 013997 D081-TJ H823-TJ TF 013997 D081-TJ Construction of administrative offices of water users associations 60,146 60,590 312,659 225,157 225,322 214,635 653,152 653,768 527,294 Trainings 783 783 - 7,170 8,769 - 66,865 93,652 - 60,929 61,373 312,659 232,327 234,091 214,635 720,017 747,420 527,294 12 Goods, non-consulting services, and consultancy services For the year ended December 31, 2017 For the year ended December 31, 2016 Cumulative Grant No. Grant No. Grant No. Grant No. Grant No. TF Grant No. Grant No. Grant No. Grant No. H823-TJ TF 013997 D081-TJ H823-TJ 013997 D081-TJ H823-TJ TF 013997 D081-TJ Consultancy services 383,880 865,997 236,988 408,138 689,384 388,592 1,321,989 2,352,292 625,580 Services 249,983 354,462 173,998 406,037 747,821 24,343 1,503,951 2,374,491 198,341 Purchase of fixed assets 71,367 120,109 61,613 52,066 89,097 - 311,772 568,522 61,613 Payroll and related taxes 26,760 47,662 124,403 84,806 144,024 - 242,223 390,951 124,403 Fuel - 20,000 - 247,758 396,295 - 247,758 416,295 - Bank fees 2,849 4,787 2,890 6,998 11,733 - 34,229 53,731 2,890 Other 1,107 5,359 - 4,022 5,866 - 32,498 52,274 - 735,946 1,418,376 599,892 1,209,825 2,084,220 412,935 3,694,420 6,208,556 1,012,827 Operating costs For the year ended December 31, 2017 For the year ended December 31, 2016 Cumulative Grant No. Grant No. Grant No. Grant No. Grant No. TF Grant No. Grant No. Grant No. Grant No. H823-TJ TF 013997 D081-TJ H823-TJ 013997 D081-TJ H823-TJ TF 013997 D081-TJ Payroll and related taxes - 199,525 - - 195,560 - - 693,432 - Fuel and maintenance of vehicles - 38,588 - - 37,331 - - 143,691 - Business trips - 17,298 - - 19,687 - - 62,346 - Repair and maintenance - - - - 1,330 - - 49,694 - Stationery - 3,021 - - 7,984 - - 25,262 - Communication - 4,291 - - 5,243 - - 23,184 - Purchase of computer equipment - 4,951 - - 3,216 - - 18,900 - Utilities - 4,222 - - 4,587 - - 17,360 - Bank fees - 2,231 473 - 3,308 2,271 - 11,259 2,744 Other - 18,366 782 - 20,566 - - 79,803 782 - 292,493 1,255 - 298,812 2,271 - 1,124,931 3,526 13 6. FUNDS RECEIVED The funds received are presented by the following financing methods and source of financing: For the year ended December 31, 2017 Grant No. Grant No. Grant No. Total H823-TJ TF 013997 D081-TJ Reimbursement of expenses 3,117,256 4,154,675 2,710,937 9,982,868 Advances received - - - - 3,117,256 4,154,675 2,710,937 9,982,868 For the year ended December 31, 2016 Grant No. Grant No. Grant No. Total H823-TJ TF 013997 D081-TJ Advances - - 1,000,000 1,000,000 Reimbursement of expenses 5,869,395 6,723,033 610,338 13,202,766 5,869,395 6,723,033 1,610,338 14,202,766 Cumulative Grant No. Grant No. Grant No. Total H823-TJ TF 013997 D081-TJ Advances 1,200,000 1,800,000 1,000,000 4,000,000 Reimbursement of expenses 15,242,760 22,025,983 3,321,275 40,590,018 16,442,760 23,825,983 4,321,275 44,590,018 7. FINANCIAL POSITION Financial position as at December 31, 2017 and 2016 comprise: December 31, December 31, 2017 2016 ASSETS AND EXPENDITURES Cash and cash equivalents 1,770,282 2,323,311 Cumulative project expenses 42,814,913 32,275,931 Other expenses 30,440 28,800 Foreign exchange loss 6,554 10,182 TOTAL ASSETS AND EXPENDITURES 44,622,189 34,638,224 FINANCING Funds received 44,590,018 34,607,150 Other income 32,171 31,074 TOTAL FINANCING 44,622,189 34,638,224 14 8. WITHDRAWAL APPLICATIONS Withdrawal applications for the year ended December 31, 2017 comprise: Source of financing Application Date Goods and Total services, including audit, trainings and operating expenses Grant No. H823-TJ 27 January 26, 2017 356,716 356,716 28 February 23, 2017 603,529 603,529 29 March 27, 2017 421,829 421,829 30 April 28, 2017 537,565 537,565 31 May 31, 2017 313,354 313,354 32 July 26, 2017 368,313 368,313 33 November 22, 2017 515,950 515,950 3,117,256 3,117,256 Grant No. TF13997 27 January 26, 2017 598,163 598,163 28 February 23, 2017 724,685 724,685 29 March 27, 2017 768,027 768,027 30 April 28, 2017 409,248 409,248 31 June 1, 2017 333,333 333,333 32 July 26, 2017 646,904 646,904 33 November 14, 2017 674,315 674,315 4,154,675 4,154,675 Grant No. D081-TJ 5 January 30, 2017 678,378 678,378 6 March 9, 2017 277,410 277,410 7 March 28, 2017 325,300 325,300 8 April 28, 2017 251,703 251,703 9 May 30, 2017 240,712 240,712 10 July 24, 2017 290,245 290,245 11 November 8, 2017 647,189 647,189 2,710,937 2,710,937 9,982,868 9,982,868 15 9. STATEMENT OF DESIGNATED ACCOUNT Statement of designated account for the year ended December 31, 2017 comprise: Designated accounts Grant No. H823-TJ Grant No. TF 013997 Grant No. H823-TJ Grant No. TF 013997 Grant No. D081-TJ Total Bank OJSC “Tojiksodirotbank” OJSC “Tojiksodirotbank” SSB of RT “Amonatbonk” SSB of RT “Amonatbonk” SSB of RT “Amonatbonk” Currency US dollars US dollars US dollars US dollars US dollars Bank account 20206840600000401325 20206840500000501325 20202840201009101000 20206840301006101000 20206840601010101000 Bank’s location 47 Bekhzod str., Dushanbe, 734013, Tajikistan 24 Lokhuti str., Dushanbe, 734013, Tajikistan Balance as at January 1, 2017 488,147 303,993 292,541 892,066 318,947 2,295,694 Reimbursement of expenses - - 3,117,256 4,154,675 2,710,937 9,982,868 Total funds received to the designated account - - 3,117,256 4,154,675 2,710,937 9,982,868 Expenses paid - - 47,717 80,058 - 127,775 Transfer between accounts 414,889 303,993 2,915,082 3,981,632 2,769,645 10,385,241 Balance as at December 31, 2017 73,258 - 446,998 985,051 260,239 1,765,546 16 10. UNDRAWN FUNDS As at December 31, 2017 undrawn funds are presented as follows: Grant No. Grant No. Grant No. Credit No. H823-TJ TF 013997 D081-TJ 5697-TJ in SDR in USD in SDR in SDR Approved financed amount 11,700,000 27,900,000 3,900,000 4,700,000 Disbursed in 2013 910,717 2,121,599 - - Disbursed in 2014 1,496,493 4,029,014 - - Disbursed in 2015 2,728,627 6,797,662 - - Disbursed in 2016 4,235,142 6,723,033 1,148,542 - Disbursed in 2017 2,264,574 4,154,675 1,971,483 - Undrawn financed amount 64,447 4,074,017 779,975 4,700,000 Grant No. Grant No. Grant No. Credit No. H823-TJ TF 013997 D081-TJ 5697-TJ in SDR in USD in SDR in SDR Funds received as at January 1, 2017 9,370,979 19,671,308 1,148,542 - Disbursed in 2017 2,264,574 4,154,675 1,971,483 - Funds received as at December 31, 2017 11,635,553 23,825,983 3,120,025 - 11. COMMITMENTS In the normal course of activities, the Project concludes agreements with suppliers of goods and services in accordance with the established budget and procurement plan. As at December 31, 2017 the Project had following commitments: Counterparty Contract No. Currency Contract Paid up to Remaining value December 31, amount to be 2017 paid LLC “Badakhshonrokh International” PAMP II-NCB-094 USD 288,602 286,200 2,402 LLC “Dilofruz” PAMP II-SHW-066 USD 58,528 55,930 2,598 LLC “Inkishof 2013” PAMP II-SHW-078 USD 85,439 83,046 2,393 LLC “ISK” PAMP II-NCB-085 USD 742,700 709,136 33,564 LLC “Sozanda 2014” PAMP II-NCB-097 USD 635,564 584,060 51,504 LLC “Bunyod sohtmon” PAMP II-NCB-066 USD 135,333 130,753 4,580 LLC “Faizbakhsh D” PAMP II-NCB-046 USD 557,603 543,796 13,807 LLC “Obi dekhot” PAMP II-NCB-101 USD 656,264 630,324 25,940 LLC “Shafof” PAMP II-SHW-081 USD 199,680 192,434 7,246 LLC “Shaikh Khusein” PAMP II-SHW-100 USD 199,839 196,480 3,359 LLC “Kudrati Rudaki” PAMP II-NCB-087 USD 407,092 389,776 17,316 LLC “Anas Sohtmon” PAMP II-SHW-108 USD 199,744 178,752 20,992 LLC “Zumrut” PAMP II-NCB-073 USD 333,685 317,920 15,765 LLC “Bunyodi Istiklol” PAMP II-SHW-112 USD 198,876 193,192 5,684 18 Counterparty Contract No. Currency Contract Paid up to Remaining value December 31, amount to be 2017 paid LLC “Tichorat 16” PAMP II-NCB-108 USD 229,967 187,589 42,378 LLC “Oyanda Sohtmon-2015” PAMP II-SHW-114 USD 104,930 99,904 5,026 LLC “Sozanda 2014” PAMP II-SHW-113 USD 185,526 162,962 22,564 LLC “Inkishof 2013” PAMP II-SHW-107 USD 197,817 177,729 20,088 LLC “Obi dekhot” PAMP II-NCB-109 USD 301,931 194,907 107,024 LLC “Eshon-2010” PAMP II -NCB-106 USD 273,345 152,494 120,851 LLC “BINOKOR 2010.2” PAMP II-SHW-101 USD 142,523 59,726 82,797 LLC “Bunyodi Istiklol” PAMP II-NCB-114 USD 474,855 94,985 379,870 LLC “Shabruz” PAMP II-NCB-113 USD 314,607 62,462 252,145 OJSC “Ob Sohtmon” PAMP II-NCB-110 USD 315,383 90,099 225,284 LLC “Faizbakhsh D” PAMP II-NCB-049 USD 324,480 204,093 120,387 LLC “Anas Sohtmon” PAMP II-SHW-119 USD 200,993 74,131 126,862 LLC “Rizo 2011” PAMP II-NCB-083 USD 176,157 73,758 102,399 LLC “Sozanda-2015” PAMP II-SHW-087 USD 131,664 48,102 83,562 LLC “Durahsh” PAMP II-SHW-122 USD 188,523 37,705 150,818 LLC “Oyanda Sohtmon-2015” PAMP II-NCB-111 USD 383,642 76,728 306,914 LLC “Sozanda 2014” PAMP II-NCB-074 USD 331,129 66,226 264,903 LLC “Dusti-A” PAMPII-CQS-024 USD 172,059 141,194 30,865 BRL Ingenierie PAMP II-QCBS-002 USD 1,313,736 1,185,956 127,780 PO “Istochnik zhizni” PAMPII-CQS-030 USD 162,488 135,712 26,776 LLC “Agroservis Hovaling” PAMP II-CQS-039 USD 114,642 104,782 9,860 PO “Markazi tashabbusi chomeavii” – “Vasl” PAMP II-CQS-043 USD 97,325 48,668 48,657 PO “Marifat” PAMP II-СQS-046 USD 56,856 47,239 9,617 PO “Rukhafzo” PAMP II-CQS-047 USD 70,015 56,877 13,138 PO “Istochnik zhizni” PAMPII-SSS-002 USD 173,600 31,226 142,374 PO “Amon” PAMP II-SSS-003 USD 179,864 44,405 135,459 LLC “Terai 21” PAMP II-CQS-036 USD 244,000 228,544 15,456 LLC “Bunyod Loikha” PAMP II-CQS-034 USD 90,059 73,112 16,947 PO “Vodii Vakhsh” PAMP II-CQS-048 USD 27,580 24,120 3,460 LLC “Loikha va kadastri zamin” PAMP II-CQS-044 USD 241,300 195,991 45,309 PO “Rukhafzo” PAMP II-SSS-006 USD 75,218 41,616 33,602 PO “Umedbaksh” PAMPII-CQS-055 USD 49,612 9,922 39,690 LLC “Terai 21” PAMP II-CQS-051 USD 231,000 - 231,000 WUA “Kanali Norbobo” PAMPII-SHW-SG-011/01 USD 4,554 4,098 456 WUA “Obi Elok” PAMPII-SHW-SG-011/02 USD 4,554 4,098 456 WUA “Shumon” PAMP II-SHW-SG-WUA-009/07 USD 4,554 4,098 456 WUA “Navruzi Dangara” PAMP II -SHW-SG-WUA 008/05 USD 4,553 4,098 455 WUA “Abrason-2010” PAMP II-SHW-SG-WUA-011/03 USD 4,554 4,098 456 WUA “Gulsara Yusufova” PAMP II-SHW-SG-WUA-012/03 USD 4,554 4,098 456 WUA “Garav-2012” PAMP II-SHW-SG-WUA-012/01 USD 4,554 4,098 456 WUA “24 solagii Istiklolyat” PAMP II-SHW-SG-WUA-012/02 USD 4,554 4,098 456 WUA “Hochabulbulon” PAMP II-SHW-SG-WUA-003/07 USD 4,554 4,098 456 WUA “Navobod-2016” PAMP II-SHW-SG-WUA-013/01 USD 4,554 4,098 456 WUA “Forob” PAMP II-SHW-SG-WUA-011/04 USD 4,554 4,098 456 WUA “Siyovush-1” PAMP II -SHW-SG-WUA 006/05 USD 4,554 4,098 456 WUA “Ganchi Panch” PAMP II -SHW-SG-WUA 006/06 USD 4,554 4,098 456 WUA “Obi zulol-2016” PAMP II-SHW-SG-WUA-008/06 USD 4,554 4,098 456 19 12. LEGAL CASES There were no any legal cases related to the Project. 13. EVENTS AFTER THE REPORTING DATE During 2017 until the date of issue of these project financial statements, the World Bank provided financing to the Project as follows: Financing methods / Date Application Grant No. Grant No. Grant No. Credit No. H823-TJ TF 013997 D081-TJ 5697-TJ Reimbursement of expenses April 30, 2018 34 92,661 - - - April 30, 2018 34 - 1,320,643 - - January 30, 2018 12 - - 739,548 - February 21, 2018 13 - - 343,693 - March 8, 2018 14 - - 50,285 - April 20, 2018 15 - - 101 - May 23, 2018 4 - - - 634,601 Advances March 14, 2018 2 - - - 635,090 April 30, 2018 3 - - - 364,000 1,919,639 2,500,123 1,532,791 1,532,791 As at the date of issue of the project financial statements no other significant events or transactions occurred which should be disclosed in the project financial statements. 20