iii) The existing expenditures when incurred (i.e., when the invoice is received), are recorded by
debit in the asset side of the balance sheet in captions "Tangible Fixed Assets" or "Intangible
Assets" and by credit of captions "Accounts Payable - Suppliers" or "Accounts Payable - other
accounts payable". The payment of the invoices is recorded by credit in the caption "Banks and
Cash - Cash" and debit in captions "Accounts Payable - Suppliers" or "Accounts Payable -
other accounts payable". If an exchange difference exists at the payment date, that difference is
recorded in the caption "Net Profit/Loss".
iv) Expenditures that are paid through direct payments by the IBRD are recorded by debit of the
caption "Accounts Payable - Suppliers" and credit of the caption "Accounts Receivable -
"Accounts Receivable - World Bank Agreement 8115 - CV". Simultaneously, in equity the same
amount is transferred from the caption "Subscribed Capital' to the caption "Paid Capital".
Taking into consideration these accounting procedures, the captions of the balance sheet show the
following natures:
a) Fixed Assets
Fixed Assets acquired by the Project are recorded at acquisition cost and are recorded by debit
to fixed assets and credit to accounts payable in the liability side of the balance sheet, when the
Project receives the corresponding invoice from the supplier.
The fixed assets acquired by the Project are not depreciated.
b) Tangible Fixed Assets in Progress
Tangible fixed assets in progress relates to installment payments made to the suppliers of goods
and works. Their accounting is similar to Fixed Assets, referred in Note 2.a) above,
c) Intangible Assets
The Intangible Assets include technical projects and consulting services acquired by the Project
and are measured at acquisition cost. Their accounting is similar to Fixed Assets, referred in
Note 2.a) above.
The intangible assets acquired by the Project are not depreciated,
d) Accounts Receivable
The Accounts Receivable correspond to the amount of the Loan agreement and the funding by
the Government of Cabo Verde that is available by the Project Implementation Unit to be used in
future expenditures.
e) Cash
Cash corresponds to cash held in bank deposits in demand (Designated Account balance and
bank account to use the funds provided by the Government of Cabo Verde).


f) Net profit / (loss) and retained earnings
All the expenditures incurred by the Project during each year are recorded by debit to net profit/
(loss), being the net profit/ (loss) presented as a separate caption on equity. The detail of the
expenditures incurred during the year is shown on the statement of source and application of
funds,
g) Equity (Resources)
The balance of this caption corresponds to the total amount made available by the Project's
funders. Caption Paid Capital corresponds to the amount already used by the Project
Implementation Unit in the acquisition of fixed assets, other assets and in expenses made.
The balance of caption Subscribed Capital corresponds to the amount of the agreement available
for use. Its balance is therefore identical to the balance of caption "Accounts receivable".
h) Accounts Payable
The balance of the caption Accounts Payable corresponds only to the invoices from suppliers
not paid at the balance sheet date.
When an invoice from a supplier is received it is recorded by credit to accounts payable and debit
of fixed assets or profit and loss depending on the nature of the acquisition. The subsequent
payments of the accounts payable to suppliers are recorded by debit to this account and a credit in
cash, or in accounts receivable, depending on whether the payment was made through the
Project's bank accounts or made directly by the Project's funders (Note 2.iv above), respectively.
i) Balances and transactions denominated in currencies other than CVE
The assets and expenditures acquired in foreign currency are translated to CVE, using
exchange rates prevailing on the date of the purchase. The corresponding account payable is
translated using the same exchange rate. At the payment date, any difference between the
exchange rate existing at that date and the exchange rate existing at the previous purchase date
(used to record the account payable to suppliers referred before are recorded in the Losses or
gains from financing included in "Net profit / (loss)" in the Balance Sheet. As of 31 December
2016, the exchange rate prevailing between foreign currencies and CVE were the following:
1 EUR = 110,265 CVE
1 USD = 105,385 CVE
3. CASH
As of 31 December 2016 and 2015, this caption is detailed as follows:
Bank Accounts                                    31.12.2016    31.12.2015
Special Account - Banco de Cabo Verde             87 014 033,00  48 219 474,00
Cape Verde Governament Account - Banco de Cabo Verde    0,00         0,00
Total    87 014 033,00  48 219 474,00
The bank account "Special Account - Banco de Cabo Verde" is used by the Project
Implementation Unit to pay expenditures. The deposits in this account correspond to the funds
made available by the IBRD.
3.1 SPECIAL ACCOUNT (now Designated Account)
The Special Account is an account opened and maintained in EUR by the Borrower, through
which payments of expenditures related with the Project are made.
This account is credited by the transfers (replenishments) of funds from the IBRD. The amount initially
deposited into this account amounted to 956,859 EUR, corresponding to working capital fund


used by the Project Implementation Unit to pay expenditures incurred with the Project. During
2014, the remaining advance was made in the amount of 43,141 EUR, totalizing 1,000,000 EUR
as of 31 December 2015.
The reimbursement of the expenditures paid through this bank account is made after request
submitted to the IBRD (through a standard form of IBRD), and subsequent approval. These
reimbursement requests detail all the expenditures paid, and are accompanied by the bank
account statement justifying the payments for which the reimbursement is requested, bank
reconciliation and other supporting documentation of the expenditures paid.
This bank account is held at the Bank of Cabo Verde ("Banco de Cabo Verde"), located in the city
of Praia.
The expenditures paid in 2016 and 2015 by the Project Implementation Unit using the Special
Account, are detailed as follows:
31 December 2016      31 December 2015
Spetral Account Movement    ___                                EUR        CVE        EUR       CVE
Opening Balance                           fi)                    437 305  48 219 474  616 454  67 973 293
Spec ial account micial deposit            ti)                        -
Advance to the special Account (Note 4)    (ill)
Bank transfers from t State of Cape Verde  (IV)
- Bank transfer from Cape Verde government account 202610 (Note 3.2)
- Bank transfer froun oter Cape Verde government account
Amount Withdrawn and Not Yet Claimed       (v                    (253)
Expenses paid
-  oods                                                         (163 384)  (18015 537)
works                                                          (263 131)  (29 014 140)  (231 019)  (26 473 310)
consultant semscas                                            (161 212) (f7 776 041)   M-_L A624  (74128)
Subtotal (Note 5)                          (                                               )  (93037 430
Replenshments received (Note 4)          (Wi)                   939810 103628 140    664 614  73 283 618
Closing Barance                       (i)0A0+(in)+0v)+(v)(vo)(vi)  789 136  67 041 890  437 305  48219474
During the year ended 31 December 2016, the Project received the amount of 939 810 CVE, relating
to Replenishment requests of expenses paid in 2016 and 2015.
3.2 CABO VERDE GOVERNMENT ACCOUNT - SUB ACCOUNT (20 26 00) IN CVE
In 2014, this bank account was cancelled, resulting in a bank transfer to the special account.
4. ACCOUNTS RECEIVABLE
The balance of the caption "Accounts Receivable" correspond to the funds available for use as of the
balance sheet date, of the funds made available by IBRD and the Government of Cabo Verde. The
reconciliation of these balances as of 31 December 2016 and 2015 is as follows:


lBRD      GovCape      lBRD    GovCape
40,200,000   Ver0      40200,000  Verde
3.755,0 0           3,755,000
Funds made available (total equity) - EUR                       40200000   3755000   40200000   3755000
Funds made avatable (total equity) - CVE (1 EURM110,265 CVE)  4432653000 414 045 075  4 432 653 000 414 045 075
Opening balance from previous year                             340 628 202 315 529 341  898 178 936 340 35 69
Special Account funding (Note 3.1)                                              .
Special Account Replenishment (a)                              103 628 140)          (73283618)
Deposit Receed (Note 3.2)
Direct Payments (Note 5) (b)                                   (67 689484) (33366752) .. 267120)J(4856358
Total account receivable                   169310579 282162589  340628202 315529341
(a)The Special Account replenishment in 2016 corresponds to the amount of 1 026 606 EUR less
the amount recovery by the bank in the amount of 86 796 EUR, converted to CVE.
(b) The direct payments correspond to the amount of 613 880 EUR converted to CVE.
5    EXPENSES PAID BY THE SPECIAL ACCOUNT OR BY DIRECT PAYMENTS
During the years ended 31 December 2016 and 2015, the application of funds was as follows:
31.12,2016         31.12.2015
Extension of Palmarejo Power Plant                                       -         310113377
Extension of Lazareto Power Plant                                 96703623         199627053
Viability study (Component I PPF)
Eletric power traffic measurement                                                           .
Reducing losses in electric power distribution                    22 208 895
Implementation of an Automatic Metering System                    2 009 930
Support to the reform of the Power Sector and Electra reestructuring     -          10 340 872
Contract Performance Monitoring                                   6 550 954          4 731 912
UGPE capacity increase                                            34430476          35194773
Supervision of components 1 and 2                                  3887503          41 126785
165 791 381 601 134 772
The resources that funded those application of funds include essentially: (i) deposits made to the
Project's bank accounts; (ii) payments made directly by the Project's funders, and; (iii) accounts
payable to suppliers. The detail of those resources was as follows:
311 _16          31.122015
ProersFFunders   ect pm    s3(ote 4and7          (i                  101056236 a09 123478
Pa;mtsF      Aho    t   Sei Aount (N        31)   00                   64735 145         93037430
Go'emmertof CapeVer denktr anser (Note 7)                   _____________
165 791 381         2 160908
Accodbne as of 31 Decembr                        6t+(i)*(fl)         165 7793
Payments are made preferably from the Special Account, and the Project Implementation Unit only
uses direct payments to suppliers by the IBRD when amounts are higher.
The reconciliation of the funds received by the Project and the funds disbursed by IBRD is as
follows:
Balance by Project    Balance by Project
2016                  2015
Project's Funders direct payments (Notes 4 and 7)  ()                  67 689 484         484 267 120
Payments made through the Special Account (Note 3.1)  (ii)              64 735 145          93037 430
A c c o u n t  b a a n c e  a s  o f  3 1  D e c e m b e r  ( i) + ( i i)  1 3 2  4 2 4 629  5 7 7  3 0 4  5 5 0


6.    CURRENT LIABILITIES
As of 31 December 2016 and 2015, the balance of the caption "Current Liabilities" refers to the
purchase of consulting services that were not paid at the balance sheet date. The detail by supplier
is as follows:
Supplier                                   Description         31.12.2016        31.12.2015
Warstila                                                          Construction of equiprr               -
SGS Consortium Cabo Verde                                         Supervision of the proje              -                  -
Others                                                            Miscellaneous services          33 131            152 894
33131            152894
7.    EQUITY
As of 31 December 2016 and 2015, the Project funders and their contribution recorded in Equity are
as follows:
Project Funders                                    Bafance 31.12.2016       Balance 31.12.2015
International Bank for Reconstruction and Development - Paid Capital                       4 263 342 421          4 092 024 798
international Bank for Reconstruction and Development - Subscribed Capital                   169 310 579            340 628 202
4432653000             4432653000
Government of Cape Verde - Paid Capital                                                      131882486               98515734
Government of Cape Verde - Subscribed Capital                                                282162589              315529341
414045075              414045075
4846698075             4846698075
The balances of "Paid Capital" refer to payments to suppliers that are made directly by the Project
funders and to the cash transfers to the Project bank accounts, as mentioned in Note 2 above. The
balances of "Subscribed Capital" correspond to the amounts available for use, as of the balance
sheet date.
The movement in these captions during the years ended 31 December 2016 and 2015 was as
follows:
Project Funders                        Balance 31.12.2016  Direct Payments  Transfers to bank Balance 31.12.2016
accounts
International Bank for Reconstruction and Development - Paid Capital  4092024 798         67689484      103 628 140    4263 342 422
International Bank for Reconstruction and Developmenl - Subscribed Capital  340 628 202  (67 689 484)  (103 628 140)     169 310 579
Government of Cape Verde - Paid Capital                                98518734           33 366 752             -       131 882 486
Government of Cape Verde - Subscribed Capital                          315 529 341       (33 366 752)                    282 162 589
Total Equity                                                         4 8  698 075                                       4846698076
Project Funders                          Balance 31-12,2014   Direct Payments  Transfers to bank Balance 31.12.2015
.. . . .accounts
International Bank for Reconstruction and Development - Paid Capital     3 534 474 060       484 267 000   73283 738     4 092 024 798
International Bank for Reconstruction and Development - Subscribed Capital  898 178 940    (484 267 000)  (73 283 738)    340 628 202
Government of Cape Verde - Paid Capital                                     73659376          24 856 358           -       98 515 734
Government of Cape Verde - Subscribed Capital                              340 385 699      (24856358              -      315 529 341
Total Equity                                                             4 46 698 075                                    4846 698 075
8. TANGIBLE AND INTANGIBLE FIXED ASSETS
The movement of the Tangible and Intangible Fixed Assets during the years ended 31 December
2016 and 2015 was as follows:


Balance             Additions        Disposals       Balance
Tangible Fixes Assets                    31.12.2015            (Note 5)                      31.12.2016
Buildings and Others Constructions          2 837 420 134      1 099 904 128            -     3937 324 262
Machinery & Equipment                            589 771            195 146            -          784 917
Auto And Trucks
Office Equipments                                301 926          1 088 904                      1 390 830
Electric Infrastructures
Other Tangible Fixed Asset                       130 684                                          130684
Fixed Assets in Pogress                     1 003 204 865                -   1 003204865                -
Total Tangible Fixed Assets                  3 84 647 380        1 101 188178  1 003 204 865  3 939 630 693
Intangible Assets
Software
Consulting                                   185826223           17688520               -      203514743
Training Expenses
Total Intangible Assets                       185826223           17688520                     203514743
Total Tangible and Intangible Assets         4027473 603        1 118876698   1 003 204 865   4 143 145 436
Balance           Additions     Disposals        Balance
Tangible Fixes Assets                    31.12.2014          (Note 5)                      31122015
Buildings and Others Constructions        2,810,008,696       27,411,438            -      2,837,420,134
Machinery & Equipment                           366,930          222,841            -            589,771
Auto And Trucks                                       -
Office Equipments                               301,926                .            -            301,926
Electric Infrastructures                              -
Other Tangible Fixed Asset                      130,684                -            -            130,684
Fixed Assets in Pogress                     558,762,265      444,442,600            -      1,003,204,865
Total Tangible Fixed Assets                3,369,570,501     472076,879             -      3,841,647,380
Intangible Assets
Software                                              -
Consulting                                  126,303,548       59,522,675            -        185,826,223
Training Expenses                                     -                                                 -
Total Intangible Assets                      126,303,548      59,522,675 185,826,223
Total Tangible and Intangible Assets       3,495,874,049     531,599,554                  4,027,473,603
The caption Tangible Fixed Assets includes essentially, besides the electric generators, engines,
heavy fuel oil and water treatment system, steam generation system for fuel heating, operator's station
and utility block, among others.
The caption Intangible Assets includes essentially the engineering costs and supervision costs of the
project, recorded in caption "Consulting".


9. OTHER ACCOUNTS RECEIVABLE - ADVANCES TO SUPPLIERS
As of 31 December 2016 and 2015, the detail by supplier of caption "Other accounts receivable" was
as follows:
Supplier                   Description             31.12.2016      31.12.2015
Hexing                     Supply of equipment          18 012 783
Total advance to suppliers                              18012783              -
Other accounts receivable                                      -         20106
Total accounts receivable                               18012783         20106
The amount advanced to suppliers recorded on 31.12.2016 is related to the contract celebrated with
the firm Hexing Electrical Co. Ltd, concerning the supply of meters.
10.      NET PROFIT / (LOSS)
During the years ended of 31 December 2016 and 2015, "Net Profit / (Loss)" had the following detail:
2016                2015
Payroll expenses                       26 053 781          25 057 406
Communication expenses                   981 025            1 756 413
Publicity expenses                       488 950            1 432 030
Other operating expenses                4 758 850           5 195 154
32 282 606          33 441 003


ANNEXE 1L1
ETAT DES DEPENSES PAYEES A TRAVERS LE COMPTE SPECIAL


Minist&io da Economia
eEmprego
UNIDADE DE GESTAO DE PROJECTOS ESPECIAIS
PROJECTO D     RECUPERA    AO E REORMA DO SECTOR EL CTRICO (PRRSE02)
FINANCIAL STATEMENT
Special Account Statement of Expenditures
as of December 31, 2016
(Amount Expressed in Euros - EUR)
IBRD Loan 8115-CV
Description                                                  Rermrk               Amount
1.Special Account Balance as at 01-01-2016                                             437.305,39
Plus:
2.Advanced to the Special Account                                              939.809,91
3.Remaining advance to the Special Account
4. Bank Transfers from the State of Cape Verde
5. Total Amount Withdrawn And Not Yet Claimed                                      252,72
Less:
6.Expenditures Incurred in the Period:                                         587727,00
Goods                           163.384,00
Works                           263.131.00
Consultant Services             161.212,00
Refund of Preparation Advance           -
Unallocated                             -
Total expenses                  587.727,00
7.Special Account Balance as at 31-12-2016                                             789,135,58
Prepared b<y                           Reviewed by                         Ap     by
Eneida Fofes                           JosN rade
/Project AssistantI                     /Financ Officer/                   /C     to     /


ANNEXE 11.2
ÉTAT DES DEMANDES DE REMBOURSEMENTS DE FONDS AU COMPTE SPECIAL


Ministério da Economia
e Emprego
UNIDADE DE UESTAC DE PROJECTOS SPECIAS
PROJECTO DE RECUPERAÇÃO E REFORMA DO SECTOR ELECTRICO (PRRSE02)
FINANCIAL STATEMENT
Special Account Replenishment Statement
as of December 31, 2016
(Amount Expressed in Euros - EUR)
IBRD Loan 8115-CV
Category Descripton
Number   Remark       Works           Goods      Consult Services  Other Costs              TOTAL
028                                              274.256,02                        274.256,02
029     (a)                                      289.319,34                        289.319,34
030              175.414,00                                                        175.414,00
032                                               42.121,00                         42.121,00
033                              163.384,00       82.111,55                        245.495,55
TOTAL               175.414,00      163.384,00      687.807,91        0,00           1.026.605,91
RemnarkC
(a) The appica»on No, 029MI anout iEUR 289 319,34, and fie bhI arntfEUR éB 79 wasr by Wrbd Bank on Apr 2016
Prepared By                              Rewed By.
n ries                                  £    dfi                           Nvd
Project Asefit                            n   ce Okicet                   C     torp.


ANNEXE 11.3
ETAT DE RAPPROCHEMENT DU COMPTE SPECIAL


Mrnist4rio da Economia
e Emprego
UNIDADE DE GESTAO DE PROJECTOS ESPECIAIS
PROJECTO DE RECUPERAQAO E REFORMA DO SECTOR ELtCTRICO
SPECIAL ACCOUNT RECONCILIATION STATEMENT
IBRD LOAN No.              IBRD 8115-CV SPECIAL ACCOUNT PREFIX:
ACCOUNT Nb.                 04087523121 WITH (BANK) BANCO DE CABO VERDE
1.     TOTAL ADVANCED BY WORLD BAiK AS OF 31 DECEMBER 2013                       956.859,27
2.     REMAINING ADVANCE TO THE SPECIAL ACCOUNT                                   43.140,73
3.     LESS: TOTAL AMOUNT RECOVERED BY WORLD BANK                                 86.796,00
4.     EQUALS PRESENT OUSTANDING AMOUNT ADVANCED TO
THE SPECIAL ACCOUNT (NUMBER I PLUS NUMBER 2 LESS NUMBER 3)                913.204,00
5.     PLUS: AMOUNT REPLENISHED
2.597.776,56
i) Amount Replenished in 2013                                             748.545,72
ii) Amount Replenished in 2014                                            158.011,34
iii) Amount Replenished in 2015                                           664.613,59
iv) Amount Replenished in 2016                                          1.026.605,91
6      BANK TRANSFERS FROM THE STATE OF CAPE VERDE                               101.237,78
7      EQUALS PRESENT OUSTANDI NG AMOUNT ADVANCED TO
THE SPECIAL ACCOUNT (NUMBER 4 THROUGH NUMBER 6)                          3.612.218,34
1.     BALANCE OF SPECIAL ACCOUNT PER ATTACHED BANK
STATEMENT AS OF DATE   31-12-2016                                         789.135,58
2.     PLUS: TOTAL AMOUNT OF THE PERIOD                                         2.822.830,04
i) Expenditures of 2012                                                    52.273,30
ii) Expenditures of 2013                                                  756.562,52
ifl) Expenditures of 2014                                                 582.505,10
iv) Expenditures of 2015                                                  843.762,12
v) Expenditures of 2016                                                   587.727,00
3.     PLUS: TOTAL AMOUNT WITHDRAWN AND NOT YET CLAIMED
REASON                                                                       252,72
4.     PLUS: AMOUNTS CLAIMED IN PREVIOUS APPLICATIONS NOT YET
CREDITED AT DATE OF BANK STMT.
APPLICATION I AMOUNT:
SUBTOTAL OF PREVIOUS APPLICATIONS NOT YET CREDITED                -
5.     MINUS: INTEREST EARNED
6.     TOTAL ADVANCE ACCOUNTED FOR (W I THROUGH W 5)                            36121218,34
DATE:                           SIGNATURE:
December 31, 2016               TITLE:                  Project Assistant ,Finance Ocer


ANNEXE 11.4
LISTE ACTUALISEE DE L'ACTIF FIXE TANGIBLE ET DE L'ACTIF INTANGIBLE


tY1    Ministrio da Economia
i*   e Emprego
UNIDADE DE GESTAO DE PROJECTOS ESPECIAIS
PROJECTO DE RECUPERAQAO E REFORMA DO SECTOR ELtCTRICO (PRRSEO2)
LIST OF TANGIBLE FIXED ASSETS
For the year ended 31 December 2016
Accouit     No,                Doscription-         Quantity   Unit Price      Total Amount         internal Code                     us    i   tiao       Local
432100    114001    Central Palmarejo                  1     133,193.283,00    133.193.283,00  N/A                     31/03/2014   Novo     ELECTRA      PALMAREJO
432100    114002    Central Lazareto                   1     198.847.710,00    198.847.710,00  N/A                     31/03/2014   Novo     ELECTRA       LAZARETO
432100    114003    Central Palmarejo                  1     870.232.661,00    870.232.661,00  N/A                     2710812014   Now      ELECTRA      PALMAREJO
432100    114004    Central Palmarejo                  1      17.440.743,00    174.140.743,00  N/A                     27/0812014   Novo     ELECTRA      PALMAREJO
432100    114005    Central Palmarejo                  1     442.091.750,00    442.091.750,00  N/A                     28/0812014   Now      ELECTRA      PALMAREJO
432100    114006    Central Lazareto                   1     354.031.254,00    354.031.254,00  N/A                     09-03-2014   Now      ELECTRA       LAZARETO
432100    114007    Central Lazareto                   1     580.832.134,00    580.832.134,00  N/A                     09-03-2014   Now      ELECTRA       LAZARETO
432100    114008    Central Lazareto                   1      8.537.157,00       8.537.157,00  N/A                     09-03-2014   Now      ELECTRA       LAZARETO
432100    114009    Central Lazareto                   1     29.247.681,00      29.247.681,00  N/A                     09-03-2014   Now      ELECTRA       LAZARETO
432100    114010    Central Lazareto                   1      18.854.323,00     18.854.323,00  N/A                     09-03-2014   Now      ELECTRA       LAZARETO
432100    115001    Central Lazareto                   1     27.411.438,00      27.411.438,00  NfA                     01-01-2015   Now      ELECTRA       LAZARETO
432100    116001    Central Lazareto                   1     96.699.263,00      96.699.263,00  N/A                     12-06-2016   Now      ELECTRA       LAZARETO
432100    116002    Central Lazareto                   1    483.825,111,00    493.825.111,00  N/A                      31-12-2016   Now      ELECTRA       LAZARETO
432100    116002    Central Palmarejo                  1     509.379.754,00    509.379.754,00  N/A                     31-12-2016   Now      ELECTRA      PALMAREJO
Total da Conta                           3.937.324.262,00
433100    113001    PC Dell Vostro 270MT i5            1         86.000,00         86000,00  COMP./001 - 13- UGP AF   09-04-2013   Now     ADMINFIN     ANAS
433100    113002    Monitor 20" DELL P2012H Black      1         21.000,00         21,000,00  MONJ001 - 13- UGP AT     09-04-2013   Now     ADMINFIN     UGPE_GERAL
433100    113003    PC Dell Inspiration, i5            1         93.500,00         93,500,00  COMPJ002 - 13- UGP AF    28/11/2013   Now     ADMINFIN     UGPE_SMT
433100    113004    Monitor 18.5" DELL LED E19138      1         21.500,00         21.500,00  MON./004- 13- UGP AF     28/11/2013   Now     ADMINFIN     UGPE-SMT
433100    113005    Monitor 20" DELL P2012H Black      1         18.500,00         18.500,00  MON.1001 - 13- UGP AT    29/11/2013   Now     PROJMANAGE UGPE_JCL
433100    113006    Monitor 21.5" Samsung LED VGA Full  1        18,500,00         18.500,00  MON.1002- 13- UGPAF      29/11/2013   Now     ADMINFIN     UGPE-MDR
433100    114001    Memorias Portatil                  1        107.930,00        107.930,00  N/A                      19-09-2014   Novo    PROJMANAGE UGPE_GERAL
433100    115001    Portatil Toshiba Satellite Pro C70-B-34T  1  111.420,00       111.420,00  PORT./001 - 15- UGP AT   27-11-2015   Novo    PROJMANAGE ANAS
433100    115001    Portatil Toshiba Satellite Pro C70-B-34T  1  111.421,00       111.421,00  -                        27-11-2015   Novo    -                 (1)
433100    116001    Portatil ACER                      1         97.573,00         97.573,00  PORT.1001 - 16- UGP AF   21-11-2018   Now     ADMINFIN     UGPE EMS
433100    116002    Portatil ACER                      1         97.573,00         97.573,00  PORT.1002 - 16 UGP AT    21-11-2016   Nowc    PROJMANAGE UGPE_CD
Total da Conta                                784.917,00
435100    116001    Mesa de Reuni5o com 18 cadeiras    1       1.068.904,00      1.068.904,00    MESA/001-16 UGP AF    2808-2016   Now     ADMINFIN     UGPE_GERAL
Total da Conta                              1.068.904,00
435200    113001    Telefdne Analogico                 1         13,463,00         13.463,00  TELE.J001-13 UGP- AF     19/11/2013   Now     FINANDISB    UGPE_JA
435200    113002    Telefone Analogico                 1         13.463,00         13463,00   TELE.J002-13 UGP- COORD  19-11-2013   Now     COORD        UGPE_PAS
435200    113002    Porttil HP Envy 17 J011SP         1         20-000,00         20.000,00  COMP=002-13UGP/PDSTDEAF  01/01/2016   Now     MEE          MEE-GMTIE
Total da Conta                                46.926,00 ,                                            A-             I
(1) - The computer has been stollen and a complained repport was made to the Police authorities, according to complained letter dated June 23, 2016


Ministério da Economia
e, Emnprego
UNIDADE DE GESTAO DE PROJECTOS ESPECIAIS
PROJECTO DE RECUPERAQÃO E REFORMA DO SECTOR ELÉCTRICO (PRRSE02)
LIST OF TANGI BLE FIXED ASSETS
For the year ended 31 December 2016
Account     No.                Description           Quantity   Unit Price      Total Amount         internal Code       A    t    status
435400    114001    Fotocopiadora Konica Minolta BizHub 2  1     275.000,00        275.000,00   FOTOJ001-14 UGP IGAE     1811-2014    Nom    IGAE          MTIE_IGAE
Total da Conta                                275.000,00
437100    113001    Tela de Suspengo                   1         14.858,00         14.858,00   TELA1001 - 13 UGP AF     19111/2013   NoW     ADMINFIN     UGPE_GERAL
437100    113002    Router, Draytek Vigor 2828          1         37.270,00         37.270,00   ROUTJ001 - 13 - UGP AF   2210112013   Novo    ADMINFIN     UGPE_GERAL
437100    114001    AP10101 Menu Networks               1         78-556,00         78.556,00   ROUTJ002 - 14 - UGP AF   19-09-2014   Now     ADMINFIN     UGPE_GERAL
Total da Conta                                130.84,00
Total of Tangible fixed assets                           3.939.630.693,00
Prepared gy:                                                  Rtyewed by;p
Siria 5feniedo T::varp                                           ?é Ancrade                                       N
^ h unar[                                                 / Fi nance Officert/


Ministério da Economila
e Emprego
UNIDADE DE GESTÄO DE PROJCECTOS ESPECIAIS
PROJECTO DE RECUPERAQÄO E REFORMA DO SECTOR ELäCTRCO (PRRSE02)
LIST OF INTANGIBLE ASSETS
For the year ended 31 Decerber 2016
AcCOunt               Descrption            Quantity   Unit Price   iTotal Anount   iternal  A   q in    utantiation
444200    Assistencia Tecnica PWC                1     8.86,684,00     8.286.684,00  NIA      13-01-2012           N/A
444200    Assistencia Tecnica Deloitte           1      157.679,00      157.679,00   NIA      14-03-2012           N/A
444200    Assistencia Tecnica Deloitte           1      248.096,00      248.096,00   NIA      1443-2012            N/A
444200    Assistencia Tecnica PWC                1     8.286.684,00    8.286.684,00  NIA      23-07-2012           N/A
444200    Assistencia Teenica SGS                1     3.295,530,00    3.295.530,00  NIA      0743-2013           N/A
444200    Assistencia Tecnica SGS                1     3.487049,00     3.487.049,00  NIA      0743-2013           NIA
444200    Assistencia Tecnica PWC                1    16,572-830,00   16.572.830,00  N/A      1-04-2013           NIA
444200    Assistencia Tecnica SGS                1     2,722.981,00    2.722.981,00  N/A      0845-2013           N/A
444200    Assistencia Tecnica SGS                1     2.129.503,00    2.129.503,00  NJA      24-05-2013           N/A
444200    Assistencia Tecnica SGS                1     3555.740,00    3.555.740,00  N/A      31-05-2013           N/A
444200    Assistencia Tecnica SGS                1     2.437.862,00    2.437.862,00  N/A      15-07-2013           N/A
444200    Assistencia Tecnica 80S                1     1.910.447,00    1.910.447,00  N/A      22-07-2013           N/A
444200    Assistencia Tecnica SGS                1     2.849,040,00    2849.040,00  N/A      12-09-2013            N/A
444200    Assistencia Tecnica SGS                1     2.547.669,00    2.547.669,00  NIA      11-10-2013            NIA
444200    Assistencia Tecnica Sandra Lima        1      544.775,00      544.775,00   NIA      07-11-2013           NIA
444200    Assistencia Teenica SGS                1     1.809.685,00    1.809.685,00  N/A      10-12-2013           NIA
444200    Assistencia Tecnica SGS                1     1.748.349,00    1.748.349,00  NIA      0141-2014           NIA
444200    Assistencia Tecnica SGS                1     1.740.019,00    1.740.019,00  NIA      07-01-2014           NIA
444200    Assistencia Tecnica PWC                1    11.048.553,00   11.048.553,00  NIA      2801-2014            NIA
444200    Assistencia Tecnica SGS                1     1.438.212,00    1.438.212,00  NIA      24-02-2014           MIA
444200    Assistencia Tecnica SGS                1     1.136.811,00    1.136.811,00  NIA      28-02-2014           MIA
444200    Assistencia Tecnica Deloitte           1      956.761,00      956.761,00   NIA      22-07-2014           NIA
444200    Assistencia Tecnica Deloitte           1      410.028,00      410.028,00   NIA      2207-2014            NIA
444200    Assistencia Tecnica SGS                1    21.515.798,00   21.515.798,00  NIA      03-10-2014           MA
444200    Assistencia Tecnica SGS                1    11.067.223,00   11.067.223,00  NIA      01-01-2015           NIA
444200    Assistencia Tecnica PWC                1     5.473.334,00    5.473.334,00  NIA      23-02-2015           NIA
444200    Assistencia Tecnica SGS                1    13.445.280,00   13.445,280,00  NIA      26-03-2015           NIA
444200    Assistencia Tecnica Deloitte           1     1.166.557,00    1.166.557,00  N/A      11-05-2015           NIA
444200    Assistencia Tecnica SGS                1    16.457.207,00   16.457.207,00  NIA      15-2015             NIA
444200    Assistencia Tecnica Deloitte           1      501.115,00      501.115,00   N/A      1047-2015            NIA
444200    Assistencia Tecnica PWC                1     4.863.128,00    4.863.128,00  NIA      2848-2015            N/A
444200    Assistencia Tecnica Deloitte           1     1.074.317,00    1.074.317,00  NIA      03-05-2016           N/A
444200    Assistencia Tenica SGS                1     3.887.560,00    3.887.560,00  NIA      24-05-2016            NIA
444200    Assistencia Tecnica Rafael Cueto       1      743.961,00      743.961,00   NIA      27-05-2016           NIA
444200    Assistencia Tecnica Rafael Cueto       1      408.904,00      408.904,00   NIA      224-2016             NIA
444200    Assistencia Tecnica Mario Pizarro      1      998.503,00      998.503,00   NIA      04-07-2016           MIA
A transportar                        160.923.874,00


1 Ministério da Economia
e E mprego
UNIDADE DE GESTÅO DE PROJECTOS ESPECIAIS
PROJECTO DE RECUPERA;ÄO E REFORMA DO SECTOR ELÉCTRICO (PRRSE02)
LIST OF INTANGIBLE ASSETS
For the year ended 31 December 2016
Account               Desecription           Quantity   Unit Price    Total Amount   tdentificati
Tranporte                          160.923,874,00
444200    Assistencia Tecnica Deloitte           1      202.226,00      202.226,00   N/A      22-07-2016           N/A
444200    Assistencia Tecnica Rafael Cueto       1      824.813,00      824.813,00   N/A      15"9-2016            N/A
444200    Assistencia Tecnica Mario Pizarro      1     2.670.115,00    2.670.115,00  N/A      30-09-2016           N/A
444200    Assistencia Tecnica Mario Pizarro      1      329.290,00      329.290,00   NIA      30-09-2016           N/A
Total da Conta                         164.950.318,00
445100    Consultoria Mott Macdonald             1      281.507,00      281.507,00   N/A      01-01-2012           NIA
445100    Consultoria Mott Macdonald             1     2.063.786,00    2.063.786,00  N/A      01-01-2012           N/A
445100    Consultoria Mott Macdonald             1      281.507,00      281.507,00   NIA      27-03-2012           N/A
445100    Consultoria Mott Macdonald             1      844.520,00      844.520,00   NIA      08-10-2012           N/A
445100    Consultoria Mott Macdonald             1     1.031.893,00    1.031.893,00  N/A      0707-2013           N/A
445100    Consultoria Fichtner                   1     6.548.831,00    6.548.831,00  N/A      25-02-2014           N/A
445100    Consultoria Fichtner                   1    10.914.719,00   10.914.719,00  N/A      21-07-2014           N/A
445100    Consultoria INE                        1     2.500.000,00    2.500.000,00  N/A      08-09-2014           N/A
445100    Consultoria INE                        1     1,000.000,00    1.000.000,00  N/A      17-11-2014           N/A
445100    Consultoria Fichtner                   1     6.548.831,00    6.548.831,00  N/A      09-06-2015           N/A
445100    Consultoria Fichtner                   1     6.548.831,00    6.548.831,00  N/A      15-06-2016           NIA
Total da Conta                          38.564.425,00
Total of Intangible ases                             203.514.743,00
Sandr Sn-Ido javares                                      José Andrade                             N   (Somes
Accò tnt                                           /FinanceOfficer/                           o .jororat,r


ANNEXE 1L.5
ÉTAT DE RAPPROCHEMENT DES DEBOURSEMENTS ENTRE LE COMPTE DU PRÊT ET
LE COMPTE DU PROJET


Min istério da Economia
e Ernprego
PRRSE - RECUPERA9ÃO E REFORMA DO SECTOR ELÉCTRICO - CABO VERDE
PROJECrS FINANCIAL STATEMENTS
STATEMENTOF DISBURSEMENTS RECONCIUAION BETWEEN LOAN ACCOUNT AND PROJECTACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
IaRDkQll3xiJ
PR.OJECT ACC0UNT                                                                                                   LOAN ACCOUNT
(A>A$- i T  FEEFErE  ~                EPE.                    ,~0åCF'i~P            I  Å*JTz?Gr.~IRFE4.~   .   ..LIÆ.utTF                         111 IIDIFFERENCE iDi-iH>?       I
003/UGPFJPRRSE/2012         Direct Payent            18.716,00 EUR            18.716,00 EUR          MotMacdnah                    18.7160 EUR      19.09.2012        18716,00EUR                 0,0 EUR
002/UGPF/PRRSJ2012         Direct Paent            8286.684,00 CVE           75.152,44 EUR                                      8286.684,00 CwE    19-092012          74,492,62 EUR              659>2 EUR
001/UGPE/PRRSJ2012            DA-AA                 956.859,27 EUR          956.859,27 EUR  DesignaÉedkcount-UGPE               95685927 EUR     20-09-2012         956859,27 EUR               0,00 EUR
SUSTTl AMOUNTDISBURSED 2012                                                1*50.727,1 EUR                                                                              t067,89 EUR             659,82EUR
008/UGPE/PRRSFJ2013         DirectPayment         12209.700,40 EUR         12.209.700,40 EUR  Wadfta                           12209.700,40 EUR     16-12-2013       12.209.700,40EUR              0,0 EUR
006/UGPEJPRRSF2013            DAA                   307.191.24 EUR          307.191,24 EUR  DesignaWdcount-UGPE                307.191,24 SUR     808-2013         307.19,24 EUR                 0,0 EUR
005/UGPFJPRRSFJ2013            DAAA                  392.761,18 EUR          392.7M,18 EUR  Designaledfkcount-UGPE               389,081,18 EUR    11-062013        3M.081,18EUR             3.680,0 UR            (b)
004/UGPE/PRRSFJ2013            DA                    52.273,30 EUR            52.273,30 EUR  Desøgnated kcount- UGPE               52273,30 EUR     0403-2013         52.273,30 EUR               0,00 EUR
SUBTOTAL AMOUNTDISMURSED 2013                                             1261.926,12 EUR                                                                              12.9824612   R            80l0EU
018/UGPF/PRRSE/2014         DirectPa"ent           9.161.840,40 EUR        9.161.840,40EUR   Warsila                             9.161.840,40 EUR   01-12-2014        9.181.840,40EUR              ,O0EUR
016/UGPFUPRRSEJ2014            DAAA                  100220,00 EUR           100.220,00 EUR  Designated kcount - UGPE              100220,00 EUR     14-10-2017        100.220,00 EUR               0,00 EUR
015/UGPEJPRRSFJ2014         Direc Paynent          5.146.547,20 EUR        5.146.547,20 EUR  Warsila                             5.146.547,20 EUR   29.07-2014        5.146.547,20 EUR              0,00 ER
014/UGPFJPRRSFJ2014            DA-AA                  21.120,86 EUR           21.12086 EUR   Designated ceount - UGPE              21.120ß6 EUR     25-2014            21.120,MEUR                 0ß00EUR
013/UGPFJPRRSE/2Gl4         Diect PaNent            447.853,00 EUR           447.853,00 EUR  Watsila                              447.853,00 EUR    257-2014          447.853,00 EUR               0,0 SUR
012/UGPFJPRRSF/2014         Direct Paynent           903.390,00 EUR          903.390,00 EUR  Warsila                              903.390,00 EUR     1445-2014        903.390,00 EUR               0,0 EUR
011/UGPFJPRRSJ2014         DirectPaynenl            461.959,60 EUR          461.959,60 EUR  Wartsila                             461.959,60 EUR    2M03-2014         461.95,0EUR                 0,0 EUR
010/UGPFJPRRSFI2014         Direct Paynepl         1.722,644,40 EUR         1.722.644,40 EUR  Warsila                            1.722.844,40 EUR    13-03.2014       1.722~4,40 EUR                0,00 EUR
009/UGPE/PRRSF2014            DAM                 3.670,48 EUR             36.570,48 EUR  Designarldcount-UGPE                 36.670,48EUR     1%03-2014          36.670,48EUR                 0,00 EUR
007/UGPFJPRRSFI2014R            DAAA                  43.140,73 EUR           43.140,73 EUR   DesignatediNecount-UGPE               43.140,73 EUR    05-02-2014        43.140,73EUR                 00 EUR
SUBTOTAL AMOUNTDISOURSED 2014                                              8,45.386,67 SUR                                                                              8.45.386,67EUR             0,00


P.,.'IiC T       T                                                                    -.                           L-iAU   ...IUT
g                                              ':1 '.hi  ar.!  .    .     ' -i  6                                               , ,                         pi  .      Jr               rt DiuFFEREI.E r ".ii.
027/UGPE/RRSE/2015          DirectPayment            594.561,95EUR            594.561,95EUR   Warns4a                               594.561,95EUR      20-10-2015        594.561,95EUR                0,00EUR
026/UGPE/RRSE/2015             DA-AA                 170.511,67 EUR           170.511,67 EUR  Designated Account - UGPE             170.511,67 EUR     28-08-2015        170.511,67 EUR               0,00 EUR
0251UGPE/PRRSE/2015             DA-AA                 100.369,00 EUR          100.369,00 EUR   Designated kcounl - UGPE              100.369F00 EUR     28-08-2015       100.369,00 EUR                0,0 EUR
024/UGPE/PRRSE/2015             DA-AA                 329.705,45 EUR          329.705,45 EUR   Designated Accoun - UGPE              329.70545 EUR      28-08-2015       329.70545 EUR                 0,00 EUR
23/UGPE/PRRSE/2015         Direct Payment            734.439,05 EUR          734.439,05 EUR   Wartsila                              734,439,05 EUR     30-7-2015        734.439,05 EUR                0,0OEUR
22                 Drect Payment          1.182.292,05 EUR         1.182.292,05 EUR  WarTsila                             1182.292,05 EUR     25-06-2015       1.182292,05 EUR               0,00 EUR
021/RRSEUGPE/2015          Dkect Payment            740.813,35 EUR           74081335 EUR    Wartsila                              74013,35 EUR       21-05-2015        740.813.35 EUR                00EUR
017/UGPE/RRSE/2015             DA-AA                  12.99900 EUR             12,999,00 EUR  Designated Account - UGPE              12.999,00 EUR     11-05-2015        12.999,00 EUR                0,00 EUR
020/UGPEiRRSE/2015          DirectPaymenlt           895706,00 EUR            895.706,00 EUR  Wartsila                              895.706.00 EUR     18-03-2015        895.706,00 EUR               0,00 EUR
019/UGPEJPRRSEI2015         DirectCPayment           244 035,60 EUR           244.035,60 EUR   Wartsila                              244.035,60 EUR     21-01-2015       244.035,60 EUR                0,00 EUR
u SDA-AA                                      51.028,47 EUR            51.028,47 EUR  Designated kcount - UGPE               51,028,47 EUR     21-01-2015        5.028,47 EUR                0,00 EUR
ARSII IGPF/PPRSF/2015
SUBTOTAL AMOUNDISBURSED 2015                                                5.056.461,59 EUR                                                                              5056AB1,59ElR               0,00 EU
033/UGPE/RRSE/2016             DAA                  24549555EUR              245,495.55EUR   DesignatedAccount-UGPE                245.495.55EUR      23-11-2016        245.495,55EUR               0,00EUR
032/UGPE/RRSE/2016             DA-AA                  42121,00 EUR             42.121,00 EUR  Designaled Account - UGPE              42.121,00 EUR     21-09-2016        42.121,00 EUR                0,00 EUR
031/UGPEIRRSE/2016          DirectPayment           613.88005 EUR           613.880,05 EUR  Wadsila                               613.880,05 EUR     03-08-2016        613.880,05 EUR               0,00 EUR
030/UGPE/RRSE/2016             DA-AA                 175.414,00 EUR           175.414,00 EUR  Designated Account - UGPE             175.414,00 EUR     03-08-2016        175 414,00 EUR               0,00 EUR
029/UGPEIRRSE/2016             DA-AA                 289 319,34 EUR           289.319,34 EUR  Designated Account - UGPE             202.523,34 EUR     25-04-2016        202.523,34 EUR           86796,00 EUR           (c)
028/UGPE/RRSE/2016             DA-AA                 274.256,02 EUR           274.256,02 EUR  Designated kcount - UGPE              274.256,02 EUR     30-03-2016        274.256,02 EUR               0,00 EUR
suBroÖL åiAOmi D'CL'R SED 2i                                              1.640 485.96 EUR                                                                              1 553.689.96 LUR        86.196 00 EUR
TOTa AMOUT D:SSURSEn                               38 754SS EUR                                                                                3865385223EUR           9113582 EUR
(al Awaing WB explanan as CVE has fixed exchange ral with EUR
(bl The diarence correspond f an      åäaad eoadrfers b a coniact ceebraad during PPF. The nbiactwas notin the system attbe dale offie applicaion --m r-. . ,a .  -j. m  -  . * .i
(c) Amup recovery by Me WB råas b 6e inal adancte SpecialAccount
Pre,ared by                                                                                          Rev wedt                                                                           t ogTcVcd l.
Tf1
/financ  Offlicerr                                                                   K:4r,  nofi r..


ANNEXE III
PHOTOS DOCUMENTANT DES REALISATIONS PHYSIQUES DU PROJET DANS
L'EXERCICE


-   ----- -   -
Atelier dElectra qui a reçu les biens acquis par le Projet           mentsdansVntérieurdel'atelierd'Electra
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