GrantThornton Independent Auditor's Report and Special Purpose Financial Information Water Resources and Irrigation Project - P121186 For the Period from 1 January to 31 December 2017 Contents Page Independent Auditor's Report i-iii Statement of Sources and Uses of Funds I Statement of Withdrawal Applications 2 Notes to the Special Purpose Financial Information 3 -10 Appendixes 1-IX GrantThornton Grant Thornton Sh.p.k. Rr: Sami Frasheri, Kompleksi T.ID, Shk. 8, Floor 1, 10 000 Tirana, Albania T -355 4 22 74 832 F +355 4 22 56 560 ft.,&.ranflhorflJftAl contact@algt.com Independent Auditor's Report To the Management of the project "Water Resources and Irrigation" and Ministry of Finance of the Republic of Albania Opinion We have audited the accompanying special purpose financial information comprising the statement of sources and uses of funds, statement of withdrawal applications and the related notes of the "Water Resources and Irrigation Project" (further referred to as the "Project"), implemented by the Ministry of Agriculture, Rural Development and Water Administration (MARDWA) financed under International Bank for Reconstruction and Development ('IBRD) Loan Agreement Number 8211- AL, Swedish International Development Cooperation Agency ('SIDA) Grant No 'T014255 and Government of Albania Contribution for the period from 1 January to 31 December 2017. The special purpose financial information has been prepared by the management of the Project in accordance with policies described in note 2 of the special purpose financial information. In our opinion, the special purpose financial information of the Project "Water Resources and Irrigation" is prepared, in all material respects, in accordance with the cash receipts and disbursement basis of accounting as set out in note 2 to the special purpose financial information. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the special purpose financial information section of our report. We are independent of the entity in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (JESBA Code) together with the ethical requirements that are relevant to our audit of the special purpose financial information in Albania, and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Restriction on Use and Distribution Without modifying out opinion, we draw attention to note 2 to the special purpose financial information, which describes the basis of accounting The special purpose financial information are prepared to assist the Project to comply with the financial reporting provisions of the financing agreements set out in the note 1 to the special purpose information. As a result, the special purpose financial information may not be suitable for another purpose. Our report is intended solely for the Project, the donors and the Government of Albania and should not be used by or distributed to parties other than the Project, the donors or the Government of Albania. Responsibilities of Management for the Special Purpose Financial Information Management is responsible for preparation and fair presentation of the special purpose financial information in accordance with the basis of accounting described in notes 2 and 3; this includes determining that the cash receipts and disbursements basis of accounting is an acceptable basis for the preparation of the special purpose financial information in the circumstances, and for such internal control as management determines is necessary to enable the preparation of a special purpose financial information that is free from material nisstatement, whether due to fraud or error. Auditor's Responsibility for the Audit of the Special Purpose Financial Information Our objectives are to obtain reasonable assurance about whether the special purpose financial information as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this special purpose financial information. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the special purpose financial information, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. * Conclude on the appropriateness of management's use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the special purpose financial information or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates, if any, and related disclosures made by management- * Evaluate the overall presentation, structure and content of the special purpose financial information, including the disclosures, and whether the special purpose financial information represents the underlying transactions and events in a manner that achieves fair presentation. We conununicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Grant Thornton sh.p.k. Tirana, Albania .l 23 May 2019 S 3001 lM Statement of Sources and Uses of Funds Period from 1 Period from I Cumulative from 26 Notes January to January to August 2010 to 31 31 December 2017 31 December 2016 December 2017 Sources of funds IBRD funding 3 10,109,780 3,292,895 20,449,812 SIDA funding 4 868,625 548,868 2,641,150 GoA contribution for VAT 5 1,618,735 798,064 3,959,747 Sale of bid documents 6 450 655 5,149 Other income 7 928 1,036 4,697 Total 12,598,518 4,641,518 27,060,555 Uses of funds Civil works 8 (8,914,640) (3,282,536) (18,925,470) Goods 9 (47,164) (180,195) (557,090) Consultancy services 10 (1,893,123) (992,988) (5,233,060) Incremental operating costs 11 (23,758) (14,975) (70,610) VAT expenses and withholding tax 12 (1,608,498) (784,534) (3,917,067) Total 12,487,183) (5,255,228) (26,703,297) Excess of receipts over disbursements 111,335 (613,710) 357,258 Exchange rate differences (318) 14,131 13,993 Transfers to treasury (1,205) (6,841) Cash at the beginning of the period 13 253,393 854,177 Cash at the end of the period 13 364,410 253,393 364,410 The Statement of Sources and Uses of Funds is to be read in conjunction with the notes set out on pages 5 to 10 and forming an integral part of the special purpose financial information. The special purpose financial information of the Water Resources and Irrigation Project were authorized for issue by the manaripfthe project on 17 May 2019 and signed on its behalf by: Enc Hoti Altin Skendo General Secretay (q PWect Manager (MARD) Etleva Alushi Finance Management specialist WRIP 1 7ы � W С7 А �рΡ � С � т V�' ryсry у�.� . N N � 6� О 6�'1 � б1 О S(? О � С� W о'7 ц]�� с¢ 471 47 ы� о cv са гд гкi оо м '� о о a�i. 4 г°и_ ш N rn с�° � а� ��� N c�v ю а � � �- �- r- сЧ с а ra 4 Q- а '.� й й r � �' Fp о w� rn о гs �°r,° о гЧ ci гд aS оо ri ci � о г��г w г�и ar о° па '+� о м гм и и �- �- r � � c•i о � т м а�ч й вr ш rn � й м � г°� ' � � � cv го 4 � г � i � 3 д О � ы � � SUBY ii а� � �, � � � �ч с� i Е qy v О' г,Нр . :s го Е �; Q � т с"уч п � ы и �� � � � � � � � е r- �° �, о ,л �, а в ьr � c�v о а � � U г� с� rе}r cn � � йУ N � М ц`7 О,. 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Р f,4 h- г г� r л .. р гЯ л Р+ �'�1 �`° - _ �t � R а � У � ,- � Т J � �° ,� � . :. � � т�' е�?i `и г w`rn с� с[ [f-�-,. ia д � гУ`�. `� �� �; � � ��� ¢ а ч ¢ а а ¢ о У �"� ¢ а � ¢ ¢ 4 � � 3�G � � � � � � � �` � ��� � � � � � r s1 J ; � и ("1 � � _' ,. г У cv м�+п с€э n � � r �,.у � rv м ч и A , , , 1 1-, , " , ", , ; , 5, , ,'-)N PRO,JEC ;- Fl?f th , 1, 1 t- 71 17 jj ves E w e N T Notes to the Special Purpose Financial Information 1 - General Information `17he Water Resources and Irrigation Project "tlw Projece) is firianced by the International Bank for Reconstruction and Development ("IBRD") and the Swedish Government through Swedish International Development Cooperation Agency ("SIDA') and GOA contribution. Tile total Project cost is EUR 34,88 'million, of which 1--UR 31 .0 million would be frorn ail IBRD Specific Investment Loan (SIL). The Swedish International Development Agency (SIDA) will co-finaricc USD 4 675 million (ETTR 3.88 million) and Govemment of Albania EUR 6,95 million towards the costs of strengthening IVVRN1 and project management, Project beneficiaries include water resource management institutions, including Nlit- stry of Environment (MoE) and Mii-ristry of -,Ngriculturc, Rural Development and Water Administration The main development objective of the Project is to increase the area under irnproved irngation and drainage, improve the safety of dArns and establish the institutional basis for improved water resource Management in two priority river basins, namely the Drini-Butia and Sernan. Tht start date of the Project was 26 August 2010 when the Nfinistry of Finance agreed on the Advance Agreement for Preparation of Proposed Water Resources and Irrigation Project (the Project Preparation Advance or PPA). Through the PP-,-\, 1BRD agreed to advance an arnount Maximum to USD 1 miflioD. This fund aimed preparing a feasibility study which Provided itifomration on the e.dsting status of the 14 dains andassoclated irrigation systems, which represent the first phase of the Project. D7uring February 2012, the project preparation phase was supported by SIDA xvlu-cb agreed to contribute an arnount maximurn to 1.8 million Swedish Krona.'T'his amount was intended to be used for the preparation of the study on "Envirorii-nental and Social Inipact Assessment, Resettlement Policy and Baseline Survcys". After the finalization of the project preparation phase, in December 2012, IBRD agreed to lend the total amount of EUR 31 million for the implementation of the project while SIDA agreed to grant a total amount which will maximum to USD 4,675 ffAon. The project has been declared effective on 'May 13, 2013. The Grant Agreement nr.TFO14255 between Government of Mbinia and Swedish International Development Bank JBRD), acting as administrator of grant funds provided by Sweden, reptesented. by the Swedish Agency for Cooperation and international development SIDA), has been approved by Council of iNfinisters Decisionno,636 d2te 3LO7.2013 During 201 i by means of the Council of Ministers Decision no.91 dated 04.02.2015 "For sorne amendments to Decisionno.939 dated 09-10.2013, the Council of Ministers assigned the state responsibilities, tha t were previously administe red by the Nlinis try o f Environment, to the Minis try of Agriculture, Rural Development ar d Water Administration, 3 WATER ESOURCES AND IRRIGATION PROJECT 1or the ro f(rom 1 n y toi 1 Dcembr 20117 amonts are ec1qpr. in EUR unless ltherywxse stted Consequently, the budget program "Water Administration" in accordance with the Grant Swedish TF 014 255 for the project of Water Resources and Irrigation, Part 3 "Institutional Support for integrated management of water resources and Part 4" Support the implementation ", was effectively assigned to vA-RDWA. These changes reflected in amended of Loan Agreement 89/2013 and TF Grant Agreement as follow: The Amendment of Grant Agreement nr.TF014255 has been approved by Counci of Ministers Decision no 294, date 20.04.2016 .and Loan Agreement is amended by law no. 8/2016. During 2017, the Project has negotiated with IBRD for Additional Financing IBRD loan with a total amount of 23 Million EUR. Consequently the Parties discussed and agreed on by signing on 19.03.2018 the Loan agreement for Additional Financing 1BRD, which is ratified by law 31/2018. In addition the closing date of the project has been changes, it is 31 May 2020. The implementation phase of the Project consists of the following components: - Component 1: Dam and I&D Systems Rehabilitation. This component will be implemented by MARDWA. The objective is to rehabilitate I &D systems and dam infrastructure. Component 2: Institutional Support for Irrigation and Drainage. This component will be implemented by MARDWA. The objective is to improve the performance of organizations that provide irrigation services. - Component 3: Institutional Support for Integrated Water Resources. This component will be implemented by IoR. (now MARDWA) Its objective is to establish the strategic framework to manage water resources at the national level and at the level of the Drin-Buna and Semani River basins. - Component 4: Implementation Support. This component wTil be jointly implemented by MARDWA and MoE. Its objective is to manage project resources in accordance with the project's objectives and procedures as outlined in the Project Operational Manual. IBRD Loan 82110 Percentage of Expenditures Amount of the Loan to be Financed (exclusive of Category (expressed in Euro) Amended taxes) (1) Goods, works, non-consulting services, consultants' services and Training - - 100% (a) Part 3 of the Project 310,000 48,411 100% (c) Goods for part 3 (c) of the project - 240,000 45% b) Other Parts of the Project 29,592,500 30,006,527 100% (2) Incremental Operating Costs 220,000 220,000 100% Amount payable pursuant to Section 2.07(a) of the (3) Refund of Project Preparation Advance 800,000 407,562 General Conditions Amount payable pursuant to Section 2.03 of the Agreement in accordance with Section 2.07 (b) of the (4) Front End Fee 77,500 77.500 General Conditions Total 31,000,000 31,000,000 4 VWAT r ESOURCES AND IRRIGATION PROJECT F,the njod from 1 JanlUkry to 31 Decemer 2017 amounts re o'pressed , in EUR uness otherwise stated SIDA Grant TF 015255 Percentage of Expenditures C Amount of the Grant to be Financed (exclusive of Catecgor (expressed inUSD) Amended taxes) (1) Goods, works, non-consulting services, consultants' services , Training and Incremental Operating Cost for the o E 4,675,000 3,536,000 100% 2. Goods for part 3 (c ) of the project I - 339000 55% Total 1 4,675,000 3,875,000 2. Summary of significant accounting policies 2.1 Basis of preparation The special purpose financial information has been prepared in accordance with the receipts and the Cash Basis of Accounting as further explained in note 4 Recognition of income and expenses. The financial information includes the period from 1 January 2017 to 31 December 2017. Cumulative information on cash receipts and disbursements from the Project's inception to 31 December 2017 is presented in the Statement of Sources and Uses of Funds. The special purpose financial information is presented in EUR. The functional currency of the project is FUR. The special purpose financial information comprises the Statement of Sources and Uses of Funds, Statement of Expenditures and a summary of significant accounting policies and other explanatory notes. The Statements of Special and Project Accounts associated with the Project as supplementary schedules in appendices. 2.2 Summary of significant accounting policies A summary of significant accounting policies underlying the preparation of the Project's special purpose financial information is presented below. 5 WATER RESOURCES AND 'RIGTION PROJECT For thie peri from IJJaay to 31 Decemib.er 20 E amUL.ts are eIpessced in U unless~ otheavie stared 23 Foreign currency transactions Funds are received in EUR and expenses are paid in LEK, USD, and EUR. The Project has adopted EUR as its reporting currency for consistency with the reporting needs of its main donor, the World Bank. Cash and bank balances in other currencies are converted into EUR at the year-end rate of exchange. Transactions in currencies other than EUR are converted to the reporting currency at the rate ruling at the date of the transaction. As at the year-end, I Euro is equivalent to 132.95 ALL, I USD is equivalent to 111.1 ALL (Exchange rate Bank of Albania 30.12,2017) 2.4 Recognition of income and expenses Income is recognized when received rather than when earned, and expenses are recognized when paid rather than when incurred. Accordingly, direct payments of the Project's expenses are recognized as sources and uses of funds at the time the payment is made. 2.5 Taxation The Project is exempt from income tax and the Government of Albania is responsible for reimbursement of Value Added Tax ("VAT") and local cost. The VAT amount stands for the contribution of Albanian Government into the project. The Project is liable for personnel income tax, social security contributions and withholding tax, and other expenditures. 2.6 Cash and cash equivalents Cash comprise cash on hand and in operating bank accounts. 6 WATR- RESOURCES AND IRRIGATION PROJECT For th eo Jro tr Jauar to 31 Dtcornier 2017 Gr >nt aree t ss d in ER;rues 7therwise staled 3. IBRD funding IBRD funding consist of the following Period from 1 January to Period from I January to 31 December 2017 31 December 2016 Advances 400,000 Replenishments 10,109,780 2,92,895 Direct payments Refunds Total 10,109,780 3,292,895 Advances represent funds disbursed to the Special Account based on the planned project expenditures at the Project's letter of disbursements. MOF is the borrower of funds. The special Accounts of the Project are registered in Bank of Albania, where the funds are initially transferred by the donors. Replenishments represent funds disbursed by IBRD to the Special Account based on the withdrawal applications prepared by the Project. Direct payments represent amounts paid directly by IBRD based on contracts between the Project and contractors for services. 4. SIDA funding SIDA funding consists of the following: Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 Replenishments 635,993 548,868 Direct payments 232,632 - Total 868,625 548,868 Replenishments represent funds disbursed by SIDA to the Special Account based on the withdrawal applications prepared by the Project. Direct payments represent amounts paid directly by SIDA for contracts between the Project and contractors for services. 7 WATER RESOURCES AND IRRIGATION PROJECT Foe the pei>id from 1 JanLlary to S1 December 2017 m st-d in EUR anl ss othewrse tated 5. Government of Albania contributions for VAT and local costs Government of Albania contributions are related to VAT reimbursements for Project expenditures amounting to EUR 1,618,735 for the period. This amount represents the VAT paid on for VAT eligible expenditures financed by IBRD and SIDA. The local costs relate to expenditures for personnel income tax (IP), social security contributions and withholding tax and other local taxes, Period from 1 January to Period from i January to 31 December 2017 31 December 2016 Contribution for VAT 1,605,145 780,720 Contribution for local costs 13,590 17,344 Total 1,618,735 798,064 6. Sale of bid documents Sale of bid documents represents revenue from the sale of documents for bid procedures performed during the period. Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 Bid documents 450 655 Total 450 655 7. Other Income Other income represents revenue from the interest earned by project bank accounts: Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 Interest earned 928 1,036 Total 928 1,036 8. Civil Works Civil works represent expenditures incurred under contracts for "Rehabilitation of II Dams" and "Rehabilitation of I&D Schemes" Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 Rehabilitation of 11 dams 347,752 1,624,979 Rehabilitation of RBA offices 2,509 . Rehabilitation of I&D schemes 8,564,379 1,657,557 Total 8,914,640 3,282,536 8 WAE RP ESOURCES AND IRRIGATION PROJECT For h perid fm . Janua:y to 31 Deari 1e 201 7 -mont are eqprese in EUR un?ess otw stated 9. Goods This category consists of expenses such as computer equipment, office furniture, cars for River Basin Authority Office ('RBA') and Drainage Boards ('DB), Ministry of Agriculture, Rural Development and Water Administration ('NLARDWA) and Ministry of Environment ('ME finance software. Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 Alpha Software 1,380 . Computer equipment for water Cadaster 45,784 180,195 Total 47,164 180,195 10. Consultancy Services Consultancy services for the period from 01 January to 31 December 2017 are composed as follows: Period from 1 January to Period from 1 31 December January to 2017 31 December 2016 Feasibility Study and preliminary design for Irrigation and Drainage 446,472 98,527 Support for preparation for Integrated Water resource management strategy 103,719 - Consultants' salary 24,654 25,266 Dam safety review panel and safeguard studies 13,973 19,975 Supervisory of Office River Basin Authority . Resettlement Policy and Baseline Surveys Damd&ID 42,143 147,635 Supervision of reservoir 547,798 61,657 CS Local consultant enginner ( dams) 17,890 2,316 Support for preparation for I&D strategy 10,100 10,413 Preparation of RBWR Plan' 542,808 103,392 Support to establishment of Water cadaster 95,951 349,131 Establishment of M&E system 47,615 Training 174,676 Total 1,893,123 992,988 11. Incremental operating costs Incremental operating costs consists of expenses such as stationery, fuel and maintenance, social security expenses, and other operating expenses. These expenditures were entirely financed by the IBRD, SIDA and GOA local cost. Incremental operating costs for the period from 1 January to 31 December 2017 are composed as follows: Period from 1 January to Period from 1 January to 31 December2017 31 December 2016 Technical review of detail design 16,753 8,468 Bank charges 3,125 1,941 Advertisement and translation 1,007 1,581 Other incremental costs 2,873 2,985 Total 23,758 14,975 9 WATER RESOURCES AND IRRIGATION PROJECT For the period from I January to 31 Dceernboir 20 17 am.unts arfepese in E fH UR unless f therwiso stedr 12. VAT expensos The Government of Albania is responsible for reimbursing all VAT incurred by the Project. VAT paid, on project expenses incurred by the Project, was as follows: Period from 1 January to Period from 1 January to 31 December 2017 31 December 2016 VAT 1,605,145 780,720 Withhotding Tax 15% 3,353 3,814 Total 1,608,498 784,534 13. Cash on hand and at banks Cash on hand and at banks for the period comprise the following: The Project has three accounts at Bank of Albania 'Special Accounts' where during the period funds from the donor are disbursed and then transferred to the second level bank accounts at Credins Bank App. Period from 1 January to Year ended 31 December 2017 31 December 2016 LEK Equivalent in Euro Equivalent in Euro Cash at banks: Acc. No. 487777 (ALL) Ill 18,248 137 7,296 Acc. No. 487778 (EUR) IV - 152,516 192,702 Acc. No. 487513 (ALL) V . Acc. No. 558388 (ALL) V1 28,153,152 211,757 53.395 Total 364,410 253,393 For more details please refer to the Supplementary Statements of Special and Projects' Accounts Appendixes. 14. Subsequent events There are no other significant events that would require either adjustments or additional disclosures in the special purpose financial information. 10 WTE RESOURCES AND IRRIGATiON PROJECT For tie period from 1 Januiry to 31 17 muns are e pressedl in EUR I/nlessohriesae APPENDIXES Water Resources and Irrigation Project IBRD Project Preparation Advance No. P4580 IBRD Loan 8211-AL SIDA Contribution no. 53030065-03 SIDA Grant TF014255 Statements of Special and Project's Accounts for the period ended 31 December 2016 (Supplementary schedules to the Special Purpose Financial Information) WATER RESOURCES AND IRRIGATiON PR3OJFCT 'f--Ih plod from January to 31 Decembei 20117 amoval am efC hy inese 1/U unless oTh-:rvvsc stated Appendix I Supplementary Schedule of Project Account Statement Account No: 2117-547E (EUR) Depository Bank Bank of Albania Address Sheshi Skenderbe, Tirana Currency EUR Period from Period from I January to 31 1 January 2015 to 31 December 2017 December 2016 Opening balance Funds received: Funds received from IBRD 1.109,781 3,292895 10,109,781 3,292,895 Disbursements: Funds transferred to BKT account no.401481701 in ALL Funds transferred to Credins account no 558388 in ALL (10109,781) (3,292,895) (10,109,781) (3,292,895) Closing balance at period end . II ATr REOUrCES AND IRGATION P'ROJECT Fo h adfrom 1 Jnay 1o 31 Decemri 201 7 nus sdnU unless ohise stated Appendix II Supplementary Schedule of Project Account Statement Account No: 2117-555E (EUR) Depository Bank Bank of Albania Address Sheshi Skenderbej, Tirana Currency EUR Period from Period from 1 January to 31 1 January 2015 to 31 December 2017 December 2016 Opening balance Funds received: Funds received from SIDA 635,993 548,868 Disbursements: Funds transferred to Credins account no.487778 EUR (611,245) (548,868) Funds transferred to Credins account no.487777 ALL (24,748) (635,993) (548,868) Closing balance at period end Ill WAE RESOURGCl~hCES AND iRIGATION PROJECT Frth p riod ro I Januy o 31 DecemLer 201; amount are exrlhssed in EURF wnless otherwise slated Appendix III Supplementary Schedule of Special Account Statement Account No: 487777 (ALL) Depository Bank Credfns Bank Address Rr Ismail Qemali NrA Tirand Currency ALL Period from Period from 1 January to 31 1 January 2015 to 31 December 2017 December 2016 Opening balance 986,82 1,250,814 Funds received: Funds transferred from Special Account No. 2117-555E 3,305,590 Funds transferred from treasury account (reimbursement) 29,408 Interest received 468 993 Sale of bid documents 3,335,466 993 Disbursements: Project expenditures (1,400) (259,181) Funds transferred to Credins account no.487778 EUR (4,300,000) Bank charges (2,400) (6,044) Funds transferred to Credins account IBRD 487514 EUR (4303,800) (265,225) Closing balance at period end 18,248 986,582 V WATr RESOURCES AND IRRIGATION PROJECT flr the period frm I Jauay to 3Trrc 2017 amuns r etprjss5din EURW- unless6 othewse stated Appendix IV Supplementary Schedule of Special Account Statement Account No: 487778 (EUR) Depository Bank Credins Bank Address Rr. Ismail Qemali NrA Tirane Currency EUR Period from Period from 1 January to 31 1 January 2015 to 31 December 2017 December 2016 Opening balance 192,722 97,344 Funds transferred from Special Account No. 2117-555E 611,246 445,475 Funds transferred from Credins account no.487777 in ALL 32,138 . Credit interest 65 58 643,449 445,833 Disbursements: Project expenditures 582,657 349,131 Funds transferred to Credins account no.487777 in ALL 99,433 Bank charges 1,565 1,024 683,655 350,155 Closing balance at period end 152,516 192,722 V ATE R ESOLURCES AND7 iRRIGATION ROicJECT 7on$ are c'puu&ased iR uIJess$f (i.eVvue slad Appendix V Supplementary Schedule of Special Account Statement Account No: 487513 (ALL) Depository Bank Credins Bank Address Rr. Ismail Qemali Nr.4 Tirane Currency ALL Period from Period from 1 January 1 January 2017 to 31 2016 to 31 December December 2017 2016 Opening balance - 14,594,130 Funds received: Funds transferred from special account 2217-551E EUR . Funds transferred from Credins account no. 487514 Interest received 7,60 7,860 Disbursements: Funds transferred to Credins account no- 558388 ALL - (14,582,192) Project expenditures Bank charges (19,598) (14,601,790) Closing balance at period end VI WATER RESOURCES AND IRRIGATION PROJECT S peicd from 1 Jauaiy to 31 Decrmber 2017 £mountare U eiplessed in EUR unless othervise stated Appendix VI Supplementary Schedule of Special Account Statement Account No: 558388 (ALL) Depository Bank Credins Bank Address Rr Ismail Qemali Nr.4 Tirane Currency ALL Period from Period from 1 January 2017 to 31 1 January 2016 to 31 December 2017 December2016 Opening balance 7,220,618 88,055,784 Funds received: Funds transferred from BKT to Credins . Funds transferred from account 217-547E EUR 13,323,970 452,280,241 Funds transferred from account 487513 (ALL) - 14,582,192 Reimburemnet from GOA 61,657 Funds transferred from Treasury 1,350,837,718 - Interest received 115,252 126,071 Sale of bid documents 60304 90001 1,364,398,901 467,078,505 Disbursements, Project Expenditure (1,343,260,410) (547,790,664) Bank charges (205,956) (123,007) (1,343,466,366) (547,913,671) Closing balance at period end 28,15153 7,220,618 VII WATER RESOURCES AND IRRIGATION PROJECT or ihe perid from 1 In lni t 31 DeCebi ier 2017 amouts are a pr)Sed in EUR uiness otherwise stated Appendix VII Supplementary Schedule of Special Account Statement Depository Bank Treasury Account Address Tirane Currency LEK Period from Period from 1 January 2017 to 31 1 January 2016 to 31 December 2017 December 2016 Opening balance Funds received: Funds from Government VAT 213404.000 116461,519 213,404,000 116,461,519 Disbursements: Project Expenditure (213,404,000) (116,4(1519) (213,404,000) (116,461,519) Closing balance at period end Vill Appendix VIII Supplementary Schedule of Special Account Statement Depository Bank Treasury Account Address Tirane Currency LEK Period from Period from 1 January 2017 to 31 1 January 2016 to 31 December 2017 December 2016 Opening balance Funds received: Funds from Government Local Cost 1806725 2,382,506 1,806,725 2,382,506 Disbursements: Project Expenditure 71,80625) 2,382,506) (1,806,726) (2,382,506) Closing balance at period end . IX GrantThornton Management Letter Water Resources and Irrigation Project -P121186 For the period from 1 January to 31 December 2017