RepOblica de Mogambique Fundo de Estradas (FE) Financial Statements For the year ended 31 December 2018 FUNDO DE ESTRADAS FUNDO DE ESTRADAS AGGREGATED FINANCIAL STATEMENTS 31 December 2018 INDEX PAGES Statement of management responsibilities 1 Independent Auditor's Report 2 Aggregated Road Sector Accounts - Balance Sheet 5 Aggregated Road Sector Accounts - Income Statement 6 Road Fund Accounts - Balance Sheet 7 Road Fund Accounts - Income Statement 8 ANE Accounts - Balance Sheet 9 ANE Accounts - Income Statement 10 Provinces Accounts (ANE and Road Fund Delegations) - Balance Sheet 11 Provinces Accounts (ANE and Road Fund Delegations) - Income Statement 12 Municipalities Accounts - Balance Sheet 13 Municipalities Accounts - Income Statement 14 Districts Accounts - Balance Sheet 15 Districts Accounts - Income Statement 16 Office of Zambeze Bridge Project Accounts - Balance Sheet 17 GNPT - Office of New Bridge of Tete Accounts - Balance Sheet 18 GNPT - Office of New Bridge of Tete Accounts - Income Statement 19 Road Fund Operating - Balance Sheet 20 Notes to the Financial Statements 21 STATEMENT OF MANAGEMENT RESPONSIBILITIES The directors are responsible for the preparation of the financial statements that present fairly the aggregated financial statements of Fundo de Estradas, comprising the balance sheet as at 31 December 2018 and the statement of income and expenditure for the year then ended, and the notes to the financial statements, which include a summary of significant accounting policies and other explanatory notes, in accordance with the modified cash receipts and disbursements basis of accounting disclosed in Note 2. The financial statements have been audited by the independent accounting firm, Deloitte & Touche (Moyambique), Lda, which were given unrestricted access to to all financial records and related data. The directors believe that all representations made to the independent auditors during their audit were valid and appropriate. The report of the independent auditors is presented on pages 2 and 4. The financial statements for the year ended 31 December 2018 presented on pages 5 to 73 have been prepared in accordance with the basis of accounting described in the Notes to the financial statements. They are based on appropriate accounting policies which have been consistently applied, and which are supported by reasonable and prudent judgements and estimates. The going concern basis has been adopted in preparing the financial statements. The management have no reason to believe that Fundo de Estradas will not be a going concern in the foreseeable future based on forecasts and available cash resources. The Directors' are also responsible for Fundo de Estrada's system of internal controls. These are designed to provide reasonable but not absolute assurance as to the reliability of the financial statements and to adequately safeguard, verify and maintain accountability of assets. These controls are monitored throughout the Entity by the Directors and employees with the necessary segregation of authority and duties. Processes are in place to monitor internal controls, to identify material breakdowns and implement timely corrective action. The aggregated financial statements of Fundo de Estradas, as identified in the first paragraph, were approved by the Board of Di(ectors on 30,April2019,and are signed on its behalf by: Prof. An ilo Mac acua Jo Mutombene Chief Executive icer rHead of Finance Directorate Cain Postal 4318 Delottte & Touch e Maputo (Mogamnbique) Lda Moqambique Chartered Accountants and Management consultants Registration No: 5917 Rue dos Desportlstas, 833 Predio JAT V-1 3 Andar Tel +258 21320955 Tel: +258 21430594 Tel: +258 20600100 conltactdelcitte@deloitte.co.mz www.deloitte.com (FREE TRANSLATION FROM THE PORTUGUESE VERSION) INDEPENDENT AUDITOR'S REPORT To the Shareholders of FUNDO DE ESTRADAS Report on the Audit of the Financial Statements Opinion We have audited the aggregated financial statements of Fundo de Estradas, which comprise the balance sheet as at 31 December 2018, and the statement of income and expenditure for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory notes, as set out on pages 5 to 74. The financial statements have been prepared by the management of Fundo de Estradas for the purpose of providing financial information to the financiers. In our opinion, the aggregated financial statements, present fairly, in all material respects and in terms of the agreement with the financiers, the financial position of the Fundo de Estradas as at 31 December 2018, and the statement of income and expenditures for the year then ended in accordance with the basis of accounting set in note 2 to the financial statements. Basis for Opinion We conducted our audit in accordance with International Audit Standards (ISAs), issued by IAASB. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Fundo de Estradas in accordance with the ethical requirements that are relevant to our audit of the financial statements in terms of the code of ethics issued by the Order of Accountants and Auditors of Mogambique ("OCAM"), which comply with the Code of Ethics issued by the Ethics Standards Board for Accountants (IESBA), and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Matters We confirm, within the scope of our audit, that the transactions were made in accordance with the contracts, agreements and relevant legislation. Responsibilities of the Board of Directors for the Financial Statements The Board of Directors is responsible for the preparation of financfal statements that give a true and fair view in accordance with basis of accounting set out in note 2, and for such internal control as the Board of Directors determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Board of Directors is responsible for assessing the Fundo de Estradas's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Fundo de Estradas or to cease operations, or has no realistic alternative but to do so. The Board of Directors is, also, responsible for overseeing the Fundo de Estrada's financial reporting process. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are 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 taken together, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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 financial statements, 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 Company's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors. o Conclude on the appropriateness of the Board of Directors' 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 Company'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 financial statements 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 Fundo de Estradas to cease to continue as a going concern. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 32 We communicate with the Board of Directors 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. The engagement partner on the audit resulting in this independent auditor's report is Aneliya Nikolova. Deloitte & Touche (Mogambique), Lda Certified Auditors n. ' 56/CA/OCAM/2014 Represented by Aneliya Nikolova Partner Certified Auditor n. V 56/CA/OCAM/2014 30 June 2019 4 FUNDO DE ESTRADAS AGGREGATED ROAD SECTOR ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Assets 17 376 639 072 11 952 509 079 Cash 3.1 5851 500 10029672 Bank 3.2 2 182 815 934 4025418605 Receivables 4 15 187 971 638 7917060802 Total Assets 16 972 625 772 11 952 509 079 Liabilities 14 255 676 835 6 639 961 834 Bank Borrowings 5 4 377 357 456 4 467 383 991 Short Term Payables 6 9 878 319 379 2 172 577 843 Equity 2120962239 5312547245 Opening Balance 26 5 312 547 245 (965 305 954) Previous Year Adjustments 7 (71 238 490) (68 187 897) Deficit)/ Surplus Pag.6 (2 120 346 517) 6 346 041 096 Total Equity and Liabilities 17 376 639 072 11 952 509 079 5 FUNDO DE ESTRADAS AGGREGATED ROAD SECTOR ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Revenue 18 097 602 115 22 207 620 573 Government Investment Funds 9 975083939 714588225 Border Taxes 10 570435251 601 231 090 Fuel Levy 11 3663192499 3841 967028 Grants 12 11 537 344 402 12 512 885 275 Tender Income - 302233171 8446907 Bank Interest Income 13 3748942 8702885 Bridge Tolls 14 82718030 69259120 Exchange Rate Gain 26 161 935 721 2 445 799 Other Income 16 800910161 4448094244 Expenditures 20 217 948 632 15 861 780 753 Administrative Expenses 1555114516 2206426508 Road Fund Headquarter 17 619 756 536 1 529 039 645 Road Fund Operation Pag 21 175 471 442 - ANE(Administrative Directorate) 18 280 121 677 261 590 455 ANE Delegations 19 345 630 836 293 189 674 Road fund Delegations 19 60630 027 83288289 GNPT 21 59703199 20755604 Municipalities - South Region 22 42 287 192 041 Municipalities - Central Region 23 101 140 77820 Municipalities - North Region 24 742613 182661 Districts 27 12914758 18 110319 Capital Expenditures 18 245 401 344 13 038 245 648 Road Fund Headquarter - 15 079 248 777 10 243 139 840 Road Fund Operation Pag 21 5339682 - ANE (Administrative Directorate) 18 11 250 874 41 534 902 ANE (Delegation) 19 11 730 833 619 123 Road Fund Delegations 19 2414967725 2162103253 GNPT 21 212 100 - Municipalities - South Region 22 160 696 234 169 970 619 Municipalities - Central Region 23 117 801 258 94 949 104 Municipalities - North Region 24 138 002 095 95 316 744 Districts 27 306 151 767 230 612 063 Funds Allocations - Empresa de a) 193642788 5000000 Desenvolvimento Maputo Sul, EP Rounding Differences - 701 Exchange Rate Loss 16 65443589 562107858 Other Expenses 29 158346395 38 (Deficit)/Surplus (2 120 346 517) 6345839820 6 FUNDO DE ESTRADAS ROAD FUND ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Assets 15 722 847 070 11 136 326 499 Cash 31 4913868 8 4b4 776 Bank 32 1890659561 3764911466 Receivables 4 13 827 273 642 7363010257 Total Assets 15 722 847 070 11 136 326 499 Liabilities 13 035 115 070 6414729006 Bank Borrowings 5 4377357493 4 467 383 991 Short Term Payables 6 8657 758 416 1 947345015 Equity 2687731199 4721597493 Opening Balance 4 721 597 493 (1 478 916 094) Previous Year Adjustment 7 (13351 212) (52102741) Deficit/Surplus (2 020 515 082) 6252616328 Total Equity and Liabilities 15 722 847 071 11 136 326 499 7 FUNDO DE ESTRADAS ROAD FUND ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Revenue 17 323 057 562 22 193 081 215 Government Investment Funds 9 975 083 939 714 588 225 Border Taxes 10 570 435 251 601 231 090 Fuel Levy 11 3663192499 3841 967028 Bridge Tolls 14 82718030 69259120 Grants 11 11 537 344 402 12 512 885 275 Exchange Rate Gains 24 161 704 763 2 445 799 Bank Interest Income 13 3702072 8468166 Other Income 16 328876606 4 442 236 512 Expenditure 19 343 572 644 15 940 464 887 Administrative expenses 444 285 094 261 779 798 Administrative Expenses 17 444285094 261 779798 Capital expenditure 14 494 049 649 11 510399689 Housing - 887 750 Bridge Construction 386 179 912 550 371 881 Roads Construction 608 867 797 483 685 913 Roads Maintenance 2 077 510 103 312 195 270 Roads Rehabilitation 5 419 457 950 8 100 093 543 Emergency 5 858 363 949 771 744 985 Road Safety 65976517 2911253 Machinery and Equipment 6 273 620 21 249 246 Finance cost 71 419 801 1 267 259 848 Funds Allocations 4182643562 3617289035 ANE Delegations 19 356774602 295496484 ANE Administrative Directorate 18 295 640 831 297 159 000 Road Fund Delegations 19 2 869 916 041 2 577 598 715 Municipalities - South Region 22 158 145 500 157 755 700 Municipalities - Central Region 23 121 177600 96729400 Municipalities - North Region 24 124 690 200 116 401 780 Maputo Sul a) 193642788 55000000 GNPT 20 62656000 21 147255 Rounding Difference - 701 Other Expenses 29 157 323 749 - Exchange Rate Loss 15 65 270 590 550 996 365 (Deficit)/Surplus (2 020 515 082) 6252616328 a) Amount allocated to the Maputo Development Company for resettlement under the Maputo-Katembe FUNDO DE ESTRADAS ANE ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Note 2018 2017 Assets 151 610785 143832830 Bank 18 145632992 140 028 886 Receivables 18 5 977 793 3 803 944 Liabilities 2 797 339 434 306 Short Term Payables 18 2 797 339 434306 Equity 148 813 446 143 398 524 Opening Balance 18 143398524 157897535 Surplus/(Deficit) 18 5414922 (14 499011) Total Equity and liabilities 151 610 785 143 832 829 FUNDO DE ESTRADAS ANE ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Revenue 297 983 095 300 315 544 Transfers from Road Fund - State Budget 18 295640831 297159000 Income from Public Tenders 18 575 530 1 646 790 Other Income 18 1 535777 1509754 Exchange Rate Gains 18 230 958 - Expenditure 292568173 314236849 Administrative Expenses 18 280 121 677 261 590 455 Capital Expenditure 18 11 250874 41 534902 Other Expenditures 18 1 022623 - Exchange Rate Loss 15 172999 11 111 492 (Deficit) (5414922) (13921 305) 10 UNDO DE ESTRADAS PROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS) BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 ANE & FE ANE & FE Provinces Provinces Aggregated Aggregated Assets 861 418 786 502 087 361 Cash 19 937 633 1 624 896 Bank 19 73569 717 59443791 Receivables 19 786911435 441 018674 Total assets 861 418 786 502 087 361 Liabilities 636 131 567 160 762 280 Short Term Payables 19 636 131 567 160762280 Equity 225 287 219 341 325 081 Opening Balance 19 341 325082 235018771 Previous Year Adjustments 7 (76325923) (4553358) (Deficit)/surplus 19 (39 711 941) 110859668 Total Equity and Liabilities 861 418786 502087361 11 FUNDO DE ESTRADAS PROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS) STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes Provinces Provinces Consolidated Aggregated 2018 2017 Revenue 3151 956054 2884452630 Transfers from Road Fund 19 3 144 334 905 2 873 096 374 Tender income 19 3905 504 6800 117 Other Income 19 3 668 775 4 345 572 Bank interest 19 46869 210566 Expenditure 3191667994 2773592 962 Administrative expenses 19 406 260 863 376 477 963 Capital expenditure 19 2 426 698 535 2 162 722 375 Funds Allocation 358 708 573 234 392 585 Other expenses - 24 38 (Deficit)tSurplus (39 711 941) 110 859 668 FUNDO DE ESTRADAS MUNICIPALITIES ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Assets Banks 56600484 56105774 Southern Region 22 7390076 6563709 Central Region 23 34684777 26610116 Northern Region 24 14425631 22931949 Receivables 482 871 173 67 900 237 Receivables - Southern Region 22 192 268 271 22 776 140 Receivables - Central Region 23 150 827 217 28 687 648 Receivables - Northern Region 24 139 775 684 16436 449 Total Current Assets 539 371 657 124 006 010 Liabilities 488 634 177 56035864 Payables 22/23/24 488634177 56035864 Equity 50737481 67970146 Opening Balance 67970146 58293046 Previous Year Adjustments 7 5 090 250 (547 448) (Deficit)/ Surplus 22/23/24 (22322915) 10224548 Total Equity and Liabilities 539371 657 124006010 FUNDO DE ESTRADAS MUNICIPALITIES ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 -* (Amounts expressed in Meticais) Notes 2018 2017 Revenue 404 023 916 370 913 538 Road Fund Transfers 404 018 300 370 886 980 South Region 22 158145500 157755700 Central Region 23 121 182600 96729500 North Region 24 124690000 116401780 5616 26558 Other Income 5616 26558 Expenditure 426 346 831 360 688 990 Administrative Expenses 886041 452522 South Region 22 42287 192041 Central Region 23 101 140 77820 North Region 24 742613 182661 Capital Expenditure 416 499 586 360 236 467 South Region 22 160696234 169970619 Central Region 23 117801 258 94949104 North Region 24 138002095 95316744 Other Expenses 8 961 204 - (Deficit)ISurplus (22322915) 10224548 14 FUNDO DE ESTRADAS DISTRICTS ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 DISTRICTS DISTRICTS Aggregated Aggregated Assets 81 663 617 41 327 691 Receivables 27 81 663 617 41 327 691 Total assets 81 663 617 41 327 691 Liabilities 8 682 460 8 000 377 Short Term Payables 27 8682 460 8000 377 Equity 72981157 33327315 Opening Balance 27 33327314 57863755 Previous Year Adjustments 27 (7818) (10406644) Surplus/(Deficit) 27 39661 661 (14 129 796) Total Equity and Liabilities 81 663 617 41 327 692 15 FUNDO DE ESTRADAS DISTRICTS ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes Provinces Provinces Consolidated Consolidated 2018 2017 Revenue 358 729 573 234 592 585 Transfers from Delegations 27 358729573 234 592 585 Expenditure 319067912 248722383 Administrative Expenses 27 12914758 18110319 Capital Expenditure 27 306 151 767 230 612 063 Other Expenses 27 1 387 1 Surplus/(Deficit) 39 661 661 (14 129 797) FUNDO DE ESTRADAS OFFICES OF ZAMBEZE BRIDGE PROJECT ACCOUNT BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 2018 2017 Assets 1905 1905 Cash and Bank 1 905 Z h05 Total Assets 1905 1905 Equity 1905 1905 Opening Balance 1905 1 905 Surplus/(Deficit) - Total Equity and Liabilities 1905 1905 17 FUNDO DE ESTRADAS GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Assets 7 667 483 4 926 782 Cash and Bank 21 7 667 483 4 926 782 Total Assets 7667483 4926782 Liabilities - - Short Term Payables - Equity 7667483 4929782 Opening Balance 21 4926782 4535130 Previous Year Adjustment - (Deficit)/Surplus 21 2 740 701 391 652 Total Equity and Liabilities 7 667 483 4 926 782 18 FUNDO DE ESTRADAS GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS STATEMENTS OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Note 201B 2017 Revenue - 21147255 Transfers from Road Fund 21 62 656 000 21 147255 Expenditure 47915299 20755604 Administrative Expenses 21 59 703 199 20 755 604 Capital Expenditure 21 212 100 (Deficit)lSurplus (2 740 701) 391 652 19 FUNDO DE ESTRADAS ROAD FUND - FUNDO DE FUNCIONAMENTO BALANCE SHEET AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Assets 12057769 - Cash and Bank 3.2 8783792 Receivables 4 3273977 Total Assets 12057769 Liabilities 84315420 Short Term Payables 6 84315420 Equity (72 257 651) Opening Balance - Previous Year Adjustments 7 13356212 (Deficit/surplus) (85 613 863) Total Equity and Liabilities 12057769 20 FUNDO DE ESTRADAS ROAD FUND - FUNDO DE FUNCIONAMENTO GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Notes 2018 2017 Revenue 95197564 - Transfers from Road Fund 94 990 991 Other Income 206 573 Expenditure 180 811 426 Administrative Expenses Pag.6 175 471 442 Capital Expenditure Pag.6 5339681 Other Expenses 303 (Deficit)/Surplus (85 613 863) - 21 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Melicais) 1. INTRODUCTION The Road Fund functioning aims to finance the system of roads in Mozambique, namely: construction, rehabilitation and maintenance. The Road Fund received funds from various sources, namely: Investments Fund. - Own revenue as Border Tax fees, bridge tolls and fuel levy. - Foreign financing (grants and loans). During 2018, the follow grants were occurred: ADS (African Development Bank) - Montepuez - Lichinga Road Upgrading Project, supplementary Loan to finance the Montepuez-Lichinga, Multinational Nacala Road Corridor Project- Phase 111, Mueda - Negomane Road Project, Muita - Massangulo Road Project. DANIDA - (Danish International Development Agency) -- Road Sector Budget support for District roads. * INDIA Eximbank (The Export-Import Bank of India) - Rehabilitation of Road N280/281 between Tica, Buzi and Nova Sofala in Sofala Province. * IFAD (International Fund for Agricultural Development) - Food Production Action Plan (Pro-Papa) and Rural Markets Promotion Programme in Maputo, Niassa and Cabo Delgado Provinces - PROMER. * JICA (Japan International Cooperation Agency)-Montepuez - Lichinga Road Upgrading Project and Multinational Nacala Road Corridor Project - Phase III and Construction Works of 13 Bridges, between Ile and Cuamba, Mandimba - Lichinga Road Upgranding Project, * Portuguese Government - Construction and Road Rehabilitation : Macomia - Oasse, Canigado - Chicualacuala, Chimoio -Espungabera and Mocimboa da Praia - Namoto; Construction of the new Tete Bridge, Rehabilitation of N103 e R657 between Magige, Etatara and Cuamba, Rehabilitation of R602 between Magoe - Mucumburra and R601 Estima Maroeira. * UE (European Union) - Milange-Mocuba Road in Zamb6zia Province- Phase I: Upgrading of Milange-Mocuba Road - Phase II; Road Sector Budget Support. * World Bank - BMMP - APLII (Adaptative Program Lending II). * China EximBank - Beira - Machipanda Rehabilitation Road * OPEC - Road Rehabilitation to Rural Market Access - PROPESCA. * NDF - Nordic Development Fund. The Road Fund provided funds to the following entities: - FE Delegations - ANE Headquarters - National Administration of Roads. - ANE Delegations. - Municipalities - Districts - GNPT - Cabinet of Nova Ponte de Tete - Empresa de Desenvolvimento de Maputo Sul, EP 22 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 2. MAIN ACCOUNTING POLICIES 2.1. Basis of Preparation The financial statements are prepared on the modified cash receipts and disbursements basis of accounting. Under the cash receipts and disbursements basis of accounting, revenue is recorded when received in cash and expenditures are assigned to the period in which cash payment is made. This basis of accounting was modified to include accounts receivables (Advance payments made to our Suppliers) and payables (Suppliers Retentions made by us) as at 31 December 2018 and is consistent with the prior year. These financial statements reflect the aggregated transactions within the Road Sector. 2.2. Functional Currency The functional currency of Fundo de Estradas is the Metical, which is also the presentation currency. 2.3 Foreign Currencies Transactions in foreign currencies are translated at the rate of exchange ruling at the transaction date. Monetary assets and liabilities in foreign currencies at the balance sheet date are translated at the rates of exchange ruling at the balance sheet date. Any foreign exchange differences arising on such translation are recognised in the income statement in the period in which they arise. 2.4. Capital Expenditure Capital assets are expensed on acquisition. However they are controlled through a fixed assets register. Expenditure on road maintenance and rehabilitation is not capitalized, since the roads and the land on which they are built are property of the Government of Mozambique. 2.5. Revenue Revenue represents the resources originated by normal activity of the Road Fund, such as transit fees and bridge tolls; the support from State Budget and also foreign Grants and Loans supported by the Mozambican Treasury. Revenue is recognised in the income statement on receipt of the funds into the entity's bank accounts. 2.6. Expenditure Expenditure represents operating costs covered by internally generated resources from the Road Sector as well as Government support, grants and loans. 2.7. Advances to Implementing Agencies Receivable balances include advances and expenses not yet justified by year-end as well as the retentions made on the contracts awarded and other transactions within the Road Sector accounts. 23 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts pressed in Meticais) 3. CASH AND BANK BALANCES: 3.1 Cash Cash balances are as follows: Cash on handlRoad Fund 2018 2017 3.1.1 Bridge Toll Head Quarters -1 019 Rio Zambeze-Cata 76880 416 940 Batelao Chire - Caixa 74 700 - Rio Limpopo-Guij6 549520 514160 IIha de Mogambique 70 580 75 690 Ponte de Lugela 84 010 151 670 Rio Save 409 460 530 700 Rio Zambeze-Tete - Rio Limpopo-Xai-Xai 2 731 980 2 684 330 3.1.2 Border Tax 3997130 4374509 Moamba 231 050 309 270 Beira - 236 115 Machipanda 332 178 429 963 Mandimba - 23 320 Milange - 23 320 Maputo 310 845 - Tete 42 665 3 008 280 916738 4030268 4913868 8404776 3.1.2 Road Fund and ANE Total RF 182857 870120 Total ANEs 754 776 754 776 937 633 1 624 896 Total 5 851 500 10 029 672 3.2 Bank Balances Banks balances are as follows: Notes 2018 2017 Bank Road Fund Headquarter 3.2.1 1 890659562 3764911467 Bank Road Fund Funcionamento Pag.20 8 783 792 - Bank - Executing Agencies 3.22 283 372 580 260 507 138 2182815934 4025418605 24 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticas) 3.2.1 Banks - Road Fund Headquarter: Bank Account No. Currency Amount 2018 2017 MZN MZN BIM 88295318 MZN 89 89 89 BIM 995803 MZN - - (219067) BIM 91028681 MZN 83 83 83 BIM 13225951 MZN 5802160 5802166 9381268 BIM 177581975 MZN 907 213 907213 907213 BIM 20099080 USD 7 128 427 693 8 534 860 BIM 20441102 USD - - 6683341 BIM 21627606 USD 68 4 101 3 922 BIM 72136767 USD 28 1 696 1 622 BM 4158513001 MZN 199937194 199937194 307877369 BM 4201513013 MZN 110018458 10018 458 198879547 BM 42986010062 USDD 784629 47077711 56577905 BM 4261601007 USD 2193 8 12 131 628693 106909920 B M 4 8 6 5 6 0 1 0 0 8 U S D 1 5 6 5 517 9 3 9 3 1 0 4 0 1 4 2 9 7 9 8 8 0 BM 48956010002 USD 2695581 161 734 887 - BM 48966010082 USD 5 895 786 365 254 788 1 931 285 730 BM 48976010062 USD 2164579 129874718 452459117 BM 4260601009 EUR 89499 6264928 6264028 BCI 1069619110002 MZN 374838 374838 374838 BCI 1198532110001 MZN 29 987 29987 29987 BCI 3434110510001 MZN 925001 925001 4218761 BCI 1977568210001 MZN 26121698 26121698 32437037 BCI 1977568210002 USD 132893 7973584 42016534 BCI 528727710002 EUR 31 759 2 223 122 2 222 803 BCI 1618222010002 ZAR 412 118 2060592 2503690 SB 1131091691052 MZN - - SB 1131091691068 MZN 15174499 15174499 1 932577 SB 1010146071065 MZN 208480579 208480579 193533333 SB 1131091691079 MZN - - 8559840 SB 1131091691001 USD 480439 288272355 124854195 SB 1131978241008 EUR 8254 577747 577690 SB 1131091697007 EUR - - SB 1131573201001 GBP 60370 4829616 919783 Barclays 47191000017 MZN 26321 26 321 28372 Mozabanco 237584210001 MZN 1 893 373 1 893 373 7 272 700 BCI Term Deposit USD - - 375 000 SB Term Deposit MZN 40 000 000 40 000 000 40 000 000 SB Term Deposit GBP 483 250 38 660 000 74 527 500 TOTAL 1 890 659 562 3764911 467 25 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 3.2.2 Bank Balances - Executing Agencies Description 2018 2017 ANE - Delegations Provinces 46 840 085 41 307 620 Maputo 3 702 588 269 758 Gaza 2296384 2889498 Inhambane 2 701 745 1 738 835 Sofala 1 891 791 1 017228 Manica 570788 130268 Zamb6zia 5 220 628 7 451 701 Tete 671 790 86 867 Nampula 20679616 2237143 Cabo Delgado 3616456 3185253 Niassa 5 488 298 22 301 068 FE - Delegations Provinces 26 729 633 18 136 172 Maputo 2 916 932 893689 Gaza 4166064 4333493 Inhambane 3244942 416936 Sofala 4440050 79341 Manica 1 886 845 441 655 Zamb6zia 1 703 550 1 251 569 Tete 1 359 539 1 024 605 Nampula 2001 916 1 080377 Cabo Delgado 3 533 117 231 930 Niassa 1 476 678 8 382 577 Municipalities 56 500 484 56105774 SOUTH REGION 7 390 076 6 563 709 CENTRAL REGION 34684777 26610116 NORTH REGION 14425631 22931 949 ANE SEDE 145 632 992 140 028 886 GPPZ jCash and Bank) 1905 1 905 GNPT (Cash and Bank) 7 667 483 4 926 782 Total 283 372 580 260 507 139 Grand Total 2174032144 4025418605 26 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 4. RECEIVABLES Receivable balances include advances mainly to the supplier Estradas do Zambeze, and other transactions within the Road Sector accounts and are detailed as follows: Description 2018 2017 Road Fund - Headquarter 13 827 273 642 7363010257 ANE - Headquarter 5 977 793 3 803 944 ANE & RF Delegations 786911435 441 018674 Municipalities 482871 173 67900237 FE - Funcionamento 3 273 979 - Districts 81 663616 41327691 Consolidated Receivables Balance 15 187 971 638 7 917 060 802 5. BANK BORROWINGS 2018 2017 BCI - Sindicato and Millennium BIM (1) 257 496 493 347 523 028 BCI MZN C/3434110510002 - Pagamento Empreiteiros (3) 57 093 445 57 093 445 CGD-Linha Cr6dito de 400 Milh6es E (2) 4062767518 4062767518 4377 357456 4467 383991 Fundo de Estradas received loans from the following financial entities: 1. Financier from BCI - Sindicato and Millennium 8IM are to finance the following activities: (i) Rehabilitation of the Vanduzi - Changara road in Tete Province; (ii) Namacura - Ligonha River road in Zambezia Province; and (iii) Construction of 3 bridges in Manica Province. These loans are payable within twelve years and have as guarantee a comfort letter issued by the Government of Mozambique - Ministry of Economy and Finance. 2. CGD - Caixa Geral de Dep6sitos to finance the following activities: New Tete Bridge: The loan is payable within thirty years and has a sovereign repayment guarantee issued by the Government of Mozambique - Ministry of Economy and Finance. 3. The BCI - Loan in the amount of 1 100 000 000 Meticais was contracted at 21 December 2014 with the purpose of paying several contractors, payable in 10 years and bears an interest rate of 9.25%. This loan has a guatantee a confort letter issued by the Government of Mozambique - Ministry of Economy and Finance- 5. SHORT TERM PAYABLES 27 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) The balance of Short Term payables is related mainly to the value of guarantee retentions in the construction works made in the road fund sector and is detailed as follows: Description 2018 2017 Road Fund - Headquarter 8657 758 416 1 947 345 015 ANE - Headquarter 2 797 339 434 306 ANE & RF Delegations 636 131 567 160 762 280 GNPT 50 656 000 - Municipalities 488 634 177 56 035 864 FE - Funcionamento 84 315 420 - Districts 8 682 460 8 000 377 9928975379 2172577842 6. PREVIOUS YEAR ADJUSTMENTS Description ROAD FUND 2018 5 002 Correction of Advances Balances for projects previous to 2018 11 499 914 Financial Adjustments (13351 212) Correction of invoice duplication in the previous year 1 856 300 OTHER (71 243 492) ANE & RF DELEGATIONS (76 325 923) Municipalities 5 090 250 Districts (7 818) (71 238490) 7. DEFICIT In light with the cash basis principle, the consolidated deficit in the amount of 2 670 656 648 Meticais refers to the fact that the expenditures executed during the year did surpass the collected revenues during the year. The amount of the expenditures, when compared to the revenues, was made with the beginning balance at the Banks accounts, which had an amount of 4 025 418 605 Meticais, In addition, during the year, there were no internal bank borrowings. 8. GOVERNMENT INVESTMENT FUNDS This amount relates to the total transfers received during the current year from the Government financers for investment Project. 2018 2017 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Government Investment Funds - State Budget 975 083 939 714 588 225 975 083 939 714 58B 225 9. BORDER TAXES 2018 2017 Beira 275203435 214021 365 Manica (Machipanda) 127564151 154776308 Niassa (Madimba) 96 300 141 020 Zamb6zia (Milange) 13277936 16108858 Maputo 22151 333 18349627 Tete 132 142 096 197 833 913 570 435 251 601 231 090 10. FUEL LEVY 2018 2017 Received During the Year 3 663 192 499 3841 967 028 3663192499 3841 967028 29 UNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 imounts expressed in Meticais) 1. GRANTS AND LOANS YONORJ LOANER ORIGINAL CURRANCY 31.12.2018 USD EUR MZN ZAR SEK YENE MZN 3AD 28671 846 1403 408 120 861 335 - - 2094225239 3ANCO MUNDIAL 53720045 - - 3311 920647 JE - 16386578 - - - 1158811473 'HINA 10269582 - - 637 432954 NDIA 16314727 985 009 265 (OREA 8 904 770 - 541 503037 'ORTUGAL 8752362 - 362 854 326 ICA 11 023385 - 154162553 - 1 414323000 1 588762200 ANIDA - 627587165 - - 627 587 165 XDF 773650 3782920 - - 60894537 IROMER/FC - 44699183 - - 37426484 "IDA/OPEC - - 130724361 - - - 130724361 229 800 229 800 -otal 128988932 27 315 998 1082010231 - - 1414323000 11 537344402 30 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) !. GRANTS AND LOANS (CONT) ie amounts presented for BAD, JICA, KfW, KOREA, Portugal, CHINA, INDIA and IDA-World Bank are loans granted to the Mozambican Government th interest are supported by the Treasury (31.12.2017). )ONORI ORIGINAL CURRENCY 31-Dec-2017 -OANER USD EUR GaP MZN ZAR SEK YENE IVIZN 1AD 14284059 4446802 1098171 - - 1 017590037 )ANIDA - 238 786 222 - - 238 786 222 :HINA 83300795 - - 5207182927 IE 17138581 - - - 1248579119 ICA 4274384 - 103325391 - - 790041 000 836616002 ,OREIA 10713375 - - - 570184111 'ORTUGAL - 8254442 - - - 368816147 )PEC - 89968485 - - 89968485 IDA-Promer - - 21390886 - - 21 390 886 'ROPESCA - 13492501 - - 13492501 DA-WB 14049689 - - - 2 900 278 839 rotal 126622302 29839825 - 468061 655 - 790041 000 12 512 885 275 31 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 13. BANK INTEREST INCOME 2018 2017 Road Fund Headquarters 3702072 8468166 ANE Headquarters - - ANE+RF Delegations 46869 210566 Municipalities - 24153 3 748 942 8 702 885 14. BRIDGE TOLLS Road Fund 2018 2017 Limpopo River - Xai - Xai 23517490 20371 500 Save River 4919560 4045790 Moamba 3308129 2080350 Zambeze River - Armando Guebuza 44739970 37933380 Ilha de Mogambique 835 400 605 070 Limpopo River - Guija 4 685 800 3 499 780 Lugela 711682 723 250 Zambeze River - Tete Total 82718030 69259120 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 15. EXCHANGE RATE LOSS Accounted in Accounting Exchange Accounting Exchange Rate MZN Balance Balance Bank Account on the date of USD Rate MZN Loss Transaction 31/12/2018 31112/2018 31/12/2018 BCI USD 375 00000 - - 375 00000 BM4895601000 165 630 434.19 2653 556.64 6095 161 734 886.71 3 895 547.48 DIM USD 21441075 335 587.67 2667.58 60.95 162589.00 172998.67 Sub-Total 4443 546.15 Accounted in Accounting Exchange Accounting Exchange Rate MZN Balance Balance Bank Account on the date of ZAR Rate MZN Loss Transaction 31/1212018 31112/2018 31112/2018 BCI ZAR 161822210001 2 237731.32 487137.50 4.23 2 060 591.63 177139.70 Sub-Total 177 139.70 Accounted in Accounting Accounting MZN Balance Exchange Balance Exchange Rate Bank Account on the date of 4 Rate MZN Loss Transaction 31/12/2018 31/12/2018 31/1212018 SB EUR Conta Trans[to 5749910-86 5749910.86 SB EUR 1131573201001 9366841.49 62462.70 77.32 4829615.96 4537225.53 Sub-Total 10 287 136.39 Accounted in Accounting Exchange Accounting Exchange Rate MZN Balance Balance Bank Account on the date of USD Rate MZN Loss Transaction 31/12/2018 31112/2018 31/1 212018 ANFRENA 55 589 494.67 891 950.00 60.95 54 364 352.50 1 225 142.17 T Rodviaria 1 792636,02 70095 42 665.00 1 749 971.02 TaxaRodoviaria 654237.08 5100.00 60.95 310845.00 343392.08 Sub-Total 3 318 505.27 Accounted in Accounting Exchange Accounting Exchange Rate MZN Balance Balance Bank Account on the date of 4 Rate MZN Gain Transaction 31/12/2018 31/12/2018 31/12/2018 Exchange Rate 47 217 261.49 1 47 217 261.49 Gain (Invoi e) Sub-Total 47 217 261.49 Road Fund Total 65 443 689.00 Consolidated RF+ ANE 65 443 589.00 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticals) 16. OTHER INCOME 2018 2017 FE Headquarters (i) 328 876 606 4 442 236 512 ANE Headquarters 1 535 777 1 509 754 GNPT 62 656 000 - South Region Municipalities 158 146 593 1 705 Central Municipalities 121 182 600 - North Region Municipalities 124690200 700 ANE Delegations 3 553 246 4 345 503 FE Delegations 115529 69 FE Operation 206 572 - 800 910 161 4448 094 244 (i) - This refers to tender income, rounding differences and financial adjustments 17. ROAD FUND HEADQUARTERS 2018 2017 Staff Expenses 134 750 267 105 197 238 Goods & Services 309 534 827 156 582 560 Finance Costs 175 471 442 1 267 259 848 Administrative Expenses 619 756 536 1 529 039 646 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 18. ANE (ADMINISTRATIVE DIRECTORATE) 2018 2017 Assets 151 610 785 143 832 830 Bank 145 632 992 140 028 886 Receivables 5 977 793 3 803 944 161 610 785 143 832 830 Liabilities 2 797 339 434 306 Payables 2 797 339 434 306 Equity (148 813 446) 143 398 524 Opening Balance 143398524 157897535 Previous Year Adjustments - (577 706) (Deficit) (5414 922) (14 499 011) Equity and liabilities 151 610 785 143 832 830 Revenue 295 983 095 300 360 451 Road Fund allocations 295640831 297 1590 00 Other 2342264 3156544 Other Income 1 535 777 1 509 754 Tender Income 575 530 1 646 790 Exchange Rate Gain 230 958 - Expenditure 292 568 173 314 859 462 Administrative expenses 280 121 677 261 590 455 Personnel Expenses 218812 135 201497189 Third party Suppliers 15 180610 14959024 Third party Services 46128932 45134241 Capital expenditure 11 250874 41 534902 Housing 9 524 433 35 940 541 Machinery and Equipment 1 726 441 5 594 361 Other Expenses 1 022 623 - Exchange Rate Loss 172999 11 111492 Surplus(Deficit) 5414922 (13921 306) JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) . PROVINCES ACCOUNTS ( ANEIFE DELEGATIONS) -1 Maputo Gaza Inhambane Sofala Manica ANE FE ANE FE ANE FE ANE FE ANE FE 'ssets 3 703 828 31 210784 2772400 74283692 4142185 70355704 1891411 36300212 696971 57450442 tash on Hands - 19060 - 118667 749215 15130 - - - ash at Banks 3702588 2916932 2296384 4166064 2701745 3244942 1 891 791 4440050 570788 1 886845 teceivables 1 240 28274792 476016 69998961 691 225 67095632 (380) 31 860162 126183 55563597 quity and Liabilities 3703828 31 210784 2772400 74283692 4142185 70355704 1 891411 36300212 696971 57450442 )pening Balance (877462) 17707924 2197820 25664278 1 986947 10626684 688022 16777061 (4928 22167904 114) revious Year (1 504) 398 004 3 354 - - - (60 000) - - 15130 Ldjustmentls hort Term Payables 891 536 18977428 2018333 60104511 892800 53536104 669108 13442520 5170325 44038466 )ther Payables - - - - - - - . - urplus(Deficit) 3691 258 (5872572) (1 447107) (11485097) 1 262438 6192915 594281 6080632 454759 (8771 057) 3689755 tevenue 36 081 000 144 754 526 29 778 733 253 473 992 28 721 660 286 572 082 40 659 038 220 844 746 30 190 051 251 446 372 oad Fund Transfers 35990000 144754497 29331 000 253473992 27542000 286572082 40650838 220823746 30016000 251 338770 ender Income 91 000 - 278689 - 443000 - 8200 16000 139000 ank Interest Income - - - - - - - - 7602 ther Income - 29 169044 - 736660 - - 5000 35051 100000 .xpenditure 32389742 150627098 31 225840 264959089 27459222 280379167 40064757 214764115 29735292 260217429 dministrative 31 044 195 7849462 29239959 5352558 27459222 5879693 39389757 14928561 29735292 4306889 xpenses apital Expenditure 1345547 127202187 1985881 217561 996 - 243279934 675000 181 643464 - 217925368 unds Allocations - 15575449 42044534 - 31219540 - 18192070 - 37985172 )ther Expenses - - - - - 20 - - ;urplusl(Deficit) 3 691 258 (5 872 572) (1 447 107) (11 485 097) 1 262 438 6 192'915 594 281 6 080 632 454 759 (8 771 057) 36 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 imounts expressed in Meticais) L PROVINCES ACCOUNTS ( ANE/FE DELEGATIONS) -2 Tete Zamb&zia Nampula Niassa Cabo Delgado ANE FE ANE FE ANE FE ANE FE ANE FE ssets 838090 76432595 7525431 128329218 20679616 30588843 20485297 158 286 499 3622017 133823550 ash on Hands - 6400 - 23600 - - 5 51 - ash at Banks 671 790 1369539 5220 628 1703551 20679 616 2 001916 5488298 1476678 3616456 3533117 ,eceivables 166300 75073056 2304803 126619267 - 28563327 14996999 154809822 - 130290433 quity and Liabilities 838090 76432595 7525432 128329218 20679616 30588843 20485297 156286499 3622017 133823550 )pening.Baiance (10341921) 27526303 6312997 115136499 76342 (3231045) 35136717 59150095 1840598 17707434 revious Year Adjustments - 0 40621 (74 530 766) 39607 229 841 1 (714 750) 75252 (1 820 713) hort term Payables 10400630 57123-637 2663842 96669730 1304762 5377366 2343909 126 616 407 980 775 132909378 ther Payables - - - - - - urp[usf(Deficit) 779 381 (8217 345) (1 492 028) (8946245) 19 258 905 28212681 (16995 330) (28 765 252) 725 392 (14 972 550) evenue 34277 667 241452950 30856548 365632472 51413435 306731976 42703354 411424439 39512134 305428878 oad Fund Transfers 34050000 241412450 29194000 365606472 49494000 306731976 42 214 000 411424439 38292764 305421878 ender Income 179000 40000 750100 16000 503965 - 304000 - 1 129 550 7000 ank Interest Jncome - 0 39267 - - - 0 - - ther Income 48667 500 873181 10000 1415470 - 185354 - 89 820 - xpenditure 33498286 249670295 32 348 576 374 578 717 32154530 278519295 59698684 440189692 38786742 320401428 dministraive Expenses 32841832 3222438 32348 578 6576960 32154528 3571501 59698684 5312619 31718793 3629346 apital Expenditure 656454 219039959 - 311944788 0 223680632 - 394700520 7067949 277988858 unds Al[ocation - 27407898 - 56058969 51267163 40176553 38783224 'ther Expenses - 1 - - 2 - - urplusl(Deficit) 779 381 (8 217 345) (1 492 028) (8946 245) 19 258 905 28 212 681 (16.995 330) (28 765 252) 725 392 (14-972 550) 37 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) 9. PROVINCES ACCOUNTS (ANE I FE DELEGATIONS) - 3 Total 2018 Total Aggregated Inter-Delegations Total Transactions ANE FE ANE+ FE2018 ANE + FE2017 ANE+ FE ANE + FE2018 ANE+ FE2017 ssets 66357246 795 061 539 861 418 786 502 087 361 861 418 786 502 087 361 ash on Hands 754776 182857 937633 1624896 937 633 1624 896 ash at Banks 46840085 26729633 73569717 57704957 73569717 57704957 eceivables 18 762'386 768149050 786911435 442757508 786911435 442757508 quity and liabilities 66357246 795 061 539 861 418 786 502 087 361 861 418 786 502 087 361 lpening Balance 32091945 309233137 341325082 236134797 341 325082 236134797 revTous Year Adjustments 97331 (76 423 254) 76325923 5669383 76325923 5669383 hort term Payables 27336 019 608795548 636131 567 160762280 636131567 160762280 'ther Payables - - urplusl(Deficit) 6831,951 (46 543 891) (39711941) 110859668 39711941 110859668 evenue 364193620 2 870 118 172 3234311791 2884452629 - 3234311791 2884452629 oad Fund Transfers 356774602 2869916041 3226690643 2873096374 - 3226690643 2873096374 ender Income 3826504 79000 3905504 6783717 3905504 6783717 an% Interest Income 39267 7602 46869 210566 46869 210.566 terincome 3553246 115529 3668775 4361 972 3668775 4361972 xpenditure 357 36 669 2834306325 3191667994 2773592 961 - 3191667994 2 773 592 961 dministrative Expenses 345630836 60630027 406260863 376477963 - 406260863 376477963 apital Expenditure 11730831 2414967704 2 426 698 535 2162722375 - 2426698535 2162722375 unds Allocation 0 358708573 358708573 358 708 573 ther Expenses 2 22 24 234392623 24 234392623 urplusl(Deficit) 6831 951 (46 543 891) (39 711 941) 110859668 - (39711 941) 110859668 38 A FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 20. OFFICE OF ZAMBEZE BRIDGE (GPPZ) Notes 2018 2017 Assets 1905 1905 Cash and Bank 19 1 905 Total Assets 1 905 1 905 Equity 1905 1905 Opening Balance 19 1905 1I905 Surplus 1 905 1 905 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 21. GNPT - OFFICE OF NEW BRIDGE OF TETE Notes 2018 2017 Assets 7667488 4926782 Cash and Bank 19 7667488 4926782 Total Assets 7667488 4926782 Liabilities 5 - Short Term Payables 19 5 - Equity 7667483 4926782 Opening Balance 19 4 926 782 4 535 130 (Deficit)/ Surplus 2 740 701 391 652 Total Equity and Liabilities 7667488 4926782 Notes 2018 2017 Revenue - 21147 255 Transfers from Road Fund 19 62 656 000 21 147 255 Expenditure 59915 299 20755604 Administrative Expenses 19 59703199 20755604 Capital Expenditure 19 212 100 - Surplus 2 740 701 391 652 UNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 kmounts expressed in Meticais) L MUNICIPALITIES ACCOUNTS (SOUTH REGION-6) Maputo Gaza Maputo Matala Manhlia Boane Namaacha Xai-Xai Chokwe Chibuto Mandlakazi Bilene Macia kssets 18542602 21 837881 7130648 7052041 6276176 16043414 11402101 12778927 9139195 3 874 332 6218258 'ash on hands - - - - - - - - - - ash at banks 125413 142506 256718 569141 59 554 103914 213549 3395613 21 793 34650 52865 !eceivables 18 417 190 21 695375 8873930 6482900 6216622 15939500 11 188552 9383314 9117401 3839681 6212973 qulty and liabilities 18542602 21 837 881 7 130 648 7052041 6276 176 16 043 414 11 402 101 12778927 9139 195 3874332 6218 258 Ipening Balance (1 192 251) 1 858 644 325 640 3803 808 565 942 152 866 2592361 820 704 1 193 556 (617 224) 827 852 'revious Year Adjustments - - -- - - hort term Payables 19727 872 19163438 9982652 2545 272 5708 400 19131 469 8367535 9055848 7954000 3846532 5 390 000 ther payables - - - - - urplusl(Deficit) 6981 815 799 (3 177 643) 702 961 1 835 (3240922) 445 205 2902 376 (8 362) 644 924 406 evenue 15 213 000 11 500 300 6518400 1603 400 5708400 15939500 8368593 8511 000 7954000 2844800 5390000 oad Fund transfers 15213 000 11 500300 6518400 1 683400 5 708 400 15939500 8357500 8611 000 7954000 2 844 800 5390000 ender Income - - - arnk Interest Income - - - 'her income Xpenditure 15206019 10684501 9696043 980439 5706565 19180422 7923388 5608624 7962362 2199876 5389594 dministrative expenses 0 2335 2335 9943 2335 2 512 48 132 100 31 200 135 086 200 apital expenditure 15206019 10682166 9693708 970495 5704230 19 177909 7875256 5.608 524 7931 162 2334965 5389394 ther expenses - - - - - - - - urplusi(Deficit) 6981 815799 (31774 702 964 1835 (3240922) 445 205 2 902 376 (8362) 644 924 406 41 JNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 imounts expressed in Meticais) . MUNICIPALITIES ACCOUNTS (SOUTH REGION- 2) Inhambane Total Inhambane Maxixe Massinga Quissico Vilanculos 2018 2017 Ssets 12029306 21724295 15358304 16881036 13369834 199658347 29339849 ash on hands - - - - - ash at banks 767 176045 41857 580536 1285923 7390076 5563709 eceivables 12028539 21548250 14939637 16300500 12083908 192268271 22776140 quity and Liabilities 12 029 306 21724295 15358304 16881 036 13 369-831 199658347 29339849 pening Balance 962280 1769605 886207 10399 1 080075 15040466 27446525 revious Year Adjustments - - - (943817) 946817 804 ho term Payables 11 96861 14614300 14585176 24392071 11 994100 188156625 14299383 ther payables - - - - - urplus/(Deficit) (629835) 5340390 (114079) (7521 435) 1239472 (2591 927) 12405256 evenue 11 592700 14614300 14024500 16290600 11 993200 158 146 593 157 757 405 oad Fund transfers 11 592700 14614300 14024500 16290500 11 993 200 158145500 157755700 -nder Income - - - - - ank Interest Income her income - - - 1093 1705 cpenditure 12222535 9273910 14138579 23811935 10 753 728 160738621 170162661 Iministrative expenses 4230 2335 35459 5500 30760 42257 192041 apital expenditure 12218305 9271 575 14103121 23806435 10722989 160696234 169970619 her expenses - - - - irplusl(Deficit) (629 835) 5340390 (114 079) (7 521 435) 1239472 (2 891 927} (12 405 256) 42 � � ' � l ] 1 г З � � � f Э i � � � Е � � � •с�ноо c.s esrrs.дrsдs �пг©о оЕ �sть�►©As �T�S TD ТН� FINANCIAL STA�'�fViE1VT А5 АТ 3'# ❑ECENiB�R 2t1'i8 macгnfs ех ressed гп Meficais '.. MU�11C1PALITIES ACCUUNTS [C�fJTRAL REG[С}1� - 3} 8oh1. }A.nfu гпа Hein pandc F1x+mmeu Nhunstsпd. Оосопдгw САiтоЮ ]д.гг;сl Gипдlл 8usaunCглg. LiEпdal. Tete роwтс НM1атьу.ыю 1�юпgяа п. _ 7t0]9915 � 38г9ц9 tCSlTyfi Ю87Ьл6F Т311791 � S;Б76i61 ]Ь31Qt1 2732Q12 47530lг 839741С S2aGt979 9р8в655 1'![8Т908 2717.93 � а� H�r-0s • ___........._......._......._. _ �_____ .....____�.........__.__ - - - • 1 5 Баг.�� t5 SYi 5Э8 Э 533т19 7 8г1 t�1 5375Q8: 3 78J д47 дЛ3 Э8Р 711 70 J23 ЕТ 2� 171вБ 1 59°:S1 2 i1JC 5 YJd 8I Ig3 сч+аб4вs 54[sIXi7 1855врр in3e3s 53г5{ю3 3szsooo sлочгэег зазоа2г кгзlsеs sзsатез вэаахч sпвo-2<ге во8а5ьs lгаиг'+еи геоове нуапеLi.ыэilie. z2onlоа зывгаs _ эоц7аь 1оьт8аl rytl7вr гаsп7ы ]дгlo-аl zга2о+т s]аеааг _ е]ь7е4о имга7в апчаsьЬ 9lкгэаs _� rпмэ мр На4псе �� lФ373 32Э �4 {д 8iг V151 � 1 a3i 235 Ww�.�iSS •tцi 68 9tг � 5855356 i Е18+56 t 355 и9 �. За1 7дЭ ц7 996 g 5д6 91б �S 9А 5е5 ��� г67 5г�91 1 7олдЭ2 �юиs Уваг AdWatrлeпs • - ' - • • (2 306 Т�� - 0 дррппУяудЫра g2гS6t� Бц535д 27у}$�С 53773д7 369581Б 417д3р68 г538е5f [eTfjlBe 8ZA2p1 8510"a0G Э(Rд&'s 85р85д5 i7554655 2Тд6ц1 rc F.r.aйes - - . . . . _ . . . . и�л.t�пг�чn sнs то г е5Ь оас г 7па гав 5 эгsс�п а szs г�е а ап 8юг г: rгн 2зчг tz итзЭоsl тг5lss trr¢ nsэ lsаага r,6 ггнг iгэ 2Q1! s! тЬа7вч1 �и. � suseae ганоеи х7ыаоа salsooa ssnaoв +э2tв<ое x43awo- хьааооо гдтти агЬSым zsueen sencao ++аа]ею 3FиппТгх�[�ъ ss+saou гвцох araцwo sэlsич± 35гS079 ,г2Тч�с s]Ьаеое ги55овв гz�лю 8гssы� хыzюо 55г'гвао rsa»х . 1ег Исwк - • - - • - • - - . . �мегехй4сnпю • - • • • - - • г iпwпгв • - . - . . . . . - . . i .цJр - мд�� Г ����.�� � 72 БОУ ОБV ВЬl4775 S 32д Зп6 '�"� 6 5Э5 Q56 � ё 9УБ ]75 t]51 Ъ80 Б д:9 ]Sb 113СУ! д01 5 789 7Е9 мuSah.e Едреп�еs . . _ . . - 55 33$ ё З.ц 3 55 fЮ7 V г 335 Б дЕ9 2$рр ��н�'� - . • - 7t8e2[&7 6851906 53г59г1 5535СС`. 887+1'а6°,i 23535b3 55.'дЯе? ггпве;{3у 476778g х Expeгses . . . _ . . - - . . - - 1[ЧУ[RaПC1q 5 44S IXЮ 1 8S5 80С 2 Т{Р 808 6 31S В08 ] Ь29 WG �2 3У258Э11 (1 Т26 t]i1 (2 6i7 306I � 72S 11S _____..._ [7Т@ 776j 1ЬL 4?1! !3ь 7г!} __ [18 2А1! (1 769 7E9j 43 A L JNDO DE ESTRADAS L- :)TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts axpwessed in getica )_ MUNICIPALITIES ACCOUNTS (CENTRAL REGION - 4) Zambezia Total Quolimane Mocuba Milange Mag. Costa Gurue Afto Molocue 2018 2017 ssats 33357070 13334297 3433065 4372124 948 2350634 185511995 55 29T 763 ash on Hands - - - - - ash at Banks 1942727 2947 9065 13556 8748 3134 34684777 26610116 ecelvables 31414343 13331350 3424000 4358568 6 466 2DO 2347500 150827217 28687646 quity and LiabilWes 33357070 1333-4297 3433065 4372124 6474948 2 350 &U 185511995 55297763 penIng Balance 8427727 (625123) (175816) 37636 8142741 (730235) 42 5B6 714 41313401 revious Year Adjustments - - - 6649416 (473415) ort term Payables 27690658 13960527 4121356 4787550 7602482 3219976 141972324 12731049 the r Payablas - - - - - - - urplus/(Def1cft) (2761316) (1107) (512475) (453062) (9270275) (139106) (5676460) 1725729 avenue 22332000 13331400 3424000 4360623 E471 200 2347500 121187123 96753653 oad, Fund Transfers 22332000 13331400 3424000 4358000 6 471 2GO 2347500 121182600 96729500 ,nderJncome - - - - - 3nk Interest I Roome - - - herinoorrie - 2623 - - 4523 24163 Kpendfture 25 093 315 13332507 3936475 4al3684 15741475 2486606 126863582 95026924 Jminist tive Expenses 2235 2335 2335 2920 2335 - 101140 77820 apital ExpendIture 25091080 13330172 3934140 4810764 6777956 2486606 117801258 94949104 ther Expenses - - - - 8961184 - 8961184 - orplusl(Deftit) (2 761 ML (1107) 512 475) 453 J9 270 275) (139 (5676 1726729 44 UNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 \mounts expressed in Meticais) MUNICIPALITIES ACCOUNTS (NORTH REGION - 5) Nampula Niassa Nampula Nacala Manapo Malema Angoche Ribause M LIchinga Cuamba Metangula Mandimba Marrupa ksses 8641 857 14135871 10195593 6 040 457 14557222 4 517 770 10356362 21224 292 1 855064 10470562 4435245 9182408 'ash on Hands - - . - - - - ;ash at Banks 7535306 11252 1 102573 19457 267922 16770 7183 2037782 30564 3265562 66741 681 Zeceivables 1006550 14124819 9093020 6021 000 14289300 4501 000 10349180 19186511 1824500 7205000 4368504 9181 726 quityand 8541857 14135871 10195593 6040457 14557222 4517771 10356362 21 224292 1855064 10470562 4435245 9182408 )Pening 7834652 221 981 (926 015) 5235895 (2034380) (82927) (307581) (1 820708) (1 563447) (709 850) (2 500 486) (1 841077) :alance revious Year djustments - - (3 760) - - - - hortTerm 707205 17853851 9692743 6041 252 18 946 711 5030985 11 024717 20881 899 3482070 7402717 7214328 11 033336 asyables Ither Payables - - - - -- - - - - - urplusl(Deficlt) - 3 939 20 1 428 866 6232 939 2355 109 450 288 360 774 2 163 101 53559 3777695 21 402 9851 evenue - 4986000 9086000 6921000 10848300 4472800 11006300 18870400 1 824500 7205000 4351 000 9176600 oadFund - 4956000 9086000 5921 000 10848300 4472800 11 006300 18870400 1 B24 500 7205000 4351 000 9176500 ranisfers ender Income - - - - - - - ank Interest lcome ther Income - xpenditure - 8 925 960 7657134 11 153 939 13203409 4923 088 11 367074 16707299 1 888059 3 427 305 4329598 9 18I 351 ministrave - 2315 642737 5525 6345 3580 2335 3300 2335 18 2835 15350 xpenses apiture - 8923645 7014398 11 148414 13197064 4919508 11 364739 16 703 999 1 885704 3427287 4326763 9171 000 ther Expenses - - - - - - - 20 - - urplus - 3 939960 1428866 5232939 2355109 450288 360774 2163101 63559 3777 695 21402 91851 45 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts exprssed in Meticais) L MUNICIPALITIES ACCOUNTS (NORTH REGION - 6) Cabo Delgado Total Consolidated Pemba Montepuez Mueda Chifre Mocimb.Praia 2018 2017 2018 2017 4sets 8734889 1823 469 16332541 2900695 8897018 154 201315 39368398 539371 657 124006 010 ash on Hands - ash-at Banks 26 889 1 806 5541 6495 23 108 14425831 22931 949 56500484 56105774 eceivables 8 708 000 1 821 664 16327000 2894200 8873911 139775684 16436449 482 871 173 67900237 quity and Liabilities 8734889 1823 469 16332541 2900695 8897018 154201 316 39360398 539 371 657 124006010 'pening Balance 8224033 (339417) 35792 106155 1 110346 10362966 (10465880) 67970146 58293046 revicus Year Adjustments - (608600) - - - (612350) (73229) 5090 249 (547448) hort Term Payables 9421 167 2778209 16327000 2894290 7772750 158505228 29005432 488634177 56035864 ither Payables urplusl(Deicit) (8910311) (6723) (30252) (99750) 43923 (14054528) 20903075 (22322 915) 10224548 .evenue 8708000 1 241 200 16327000 2894200 7772000 124690 200 116 402480 404023916 370913538 .cad Fund Transfers 8708000 1 241 200 16327000 2894200 7772000 124690200 116401 780 404018300 370 886 980 enderlincome ank Interest income ther Income - 700 5616 26558 xpenditure 17618311 1247923 16357252 2993950 7 758 077 138744728 95499405 426 346 831 360 688 990 dministrahve Expenses 4102 6 800 41 136 3700 200 742613 182661 886041 452522 apital Expenditure 17614208 1 241 123 16316116 2990250 7757877 138002095 95316744 416499586 360236467 ither Expenses - - - - 20 - 8951 204 - urplusf(Deficit) 910 311) (6723) (30 252) (99750) 13 923 (14054528) 20 903 075 (22 322 915) 10 224 548 46 A& FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 25. EXCHANGE RATE GAIN This amount arises from the translation of bank account balances in foreign currencies to MZN at the exchange rate of Banco de Mogambique/BCI ruling at 31 December 2018. Details per Bank Account and Currency are the following: Bank Account Accounted in MZN Accounting Balance Exchange Accounting Balance Exchange Rate on the date of . Rate MZN Gain Transaction 3111212018 31/12/2018 31/1212018 SCI Euro 528727710002 2222 803 31 918 6965 2223 122,13 319 8B1131978241008 419826 8295 59.65 577 746.75 157921 BM4260601009 6 264 028 89 949 69.65 6 264 927 65 899 - 159 140 Sub-Total 159 140 Bank Account Accounted In MZN Accounting Balance Exchange Accounting Balance Exchange Rate on the date of USD Rate MZN Gain Transaction 31/1212018 31/1212018 31/1212018 BIM Dolares 20099080 - 216646 7017 60.95 427 693 644340 BIM Dolares 21627606 3922 67 60,95 4101 178 BIM Dolares72136767 1 622 28 60.95 1 696 74 BM4298601006 44642059 772399 60 95 47077711 2435652 BM4261601007 113063973 2159618 60.95 131 626693 18564719 BM4865601008 83124411 1541 116 60.95 93931 040 10 806 630 BM4896601008 353935964 5992695 60.95 365254788 32371 010 BM4895601006 106929789 2130840 60.95 129874718 22 944 928 BIM20441102 4228872 72772 60.95 4435434 206562 BC1 1977568210002 4092402 130822 60-95 7973584 3881 182 $81131091691001 271447285 4 729 653 60.95 288272355 16 825 069 108 68D 345_ Sub-Total Bank Account Accounted In MZN Accounting Balance Exchange Accounting Balance Exchange Rate on the date of Libras Rate MZN Gain Transaction 31112/2018 31/122018 31112/2018 SB Libras 32 333 000.00 500 000.00 77.32 38 660 000,00 6 327 000 Sub-Total 6327 000 Bank Account Accounted in MZN Accounting Balance Exchange Accounting Balance Exchange Rate on the date of USD Rate MZN Gain . . Transaction 3111212018 311112/2018 31112/2018 Taxa Rodoviaria 331 5 Machipanda 632 450 60.95 332178 545 Sub-Total 545 Bank Account Accounted in M2N Accounting Balance Exchange Accounting Balance Exchange Rate on the date of Rate MZN Gain Transaction 31/1212018 31112/2018 31/1212018 Exchange Rate Ga[n 44651 50404 - 44 651 504 Sub-Total 44 651 504 Road Fund Total 51138 189 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) Bank Account - ANE Accounted in MZN Accounting Balance Exchange Accounting Baance Exchange Rate on the date of Libras Rate MZN Gain Transaction 31/1212018 3111212018 3111212018 BIM Euro 245985572 128 023 435.20 1 841 41268 09103/1900 128 254 393,16 230 958 Sub-Total 230 955 Rounding difference 1 655 271 Consolidated RF + ANE 161 704 763 26. OPENING BALANCE 2018 2017 Opening Balance Road Fund Headquarters 4 721 597 493 (1 478 916 095) ANE Headquarters 143398524 157897535 ANE Delegations Provinces 32 091 945 29 255 263 Road Fund Delegations Provinces 309233 137 205763518 Municipalities 67970146 58293046 GPPZ 1 905 1905 GNPT 4926782 4535130 Districts 33 327 314 57 863 755 5312547246 965305953 JNDO DE ESTRADAS ITES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) '.DISTRICTS ACCOUNTS Maputo Gaza Inhambane Manica Sofala Tete Zamb6zia Nampula Niassa Cabo Total - Delegado 'ssets 2137271 3271856 1286 000 5791336 7202434 12528410 16340876 4540536 22321274 5243623 81663617 ;ash on Hands - - - - - - - - - ;ash at Banks - - - - - - - - - eceivables 2137271 3271856 1286000 6791 336 7202434 12528410 16340876 4540536 22321 274 5243623 81663.617 .quity and liabilities 2137271 3271856 1286 000 6791336 7202434 12 528 410 16340876 4540536 22321274 5243623 816i3617 )pening Balance 1770 328 916929 1164342 3714180 4038640 3418774 9981767 1892329 4463777 1966248 33327314 'revious Year Adjustments - - - - - - (7818) - - - (7818) ,hort Term Payables 961 474 798757 63900 1364562 91364 1256094 (395317) 1 051 164 3490462 - 8682460 Ither Payables - - - - - - - - - -. )eflcit)/Surplus (594531) 1 556170 57758 1 712595 3072430 7853542 6762245 1597042 14367034 3277375 39661661 !evenue 15575449 42044534 31219540 37985172 18192070 27407898 56077970 51267163 40176553 38783224 358729573 oad Fund Transfers 15575449 42044534 31219540 37985172 18192070 27407898 56077970 51267163 40176553 38783224 358729573 ender Income - - - - - - - - - ank Interest Income - - - - - - ther Income - . . xpenditure 16169980 40488364 31161782 36272578 15119640 19554356 49315725 49670121 25809519 35505849 319067912 dministrative Expenses 1085819 835512 1127033 1850128 723170 629000 2059284 956587 1617619 2-030605 12914758 apital Expenditure 15084161 39652852 30034749 34422449 14396471 18925356 47255056 48713532 24191900 33475244 306151767 unds Allocations - - - - - - - - - - . )ther Expenses - - - - - - 1385 2 - - 1 387 )eficit)l Surplus (594 531) 1 556 170 57 758 1 712 595 3072430 7853 542 6 762 245 1 597 042 14 367 034 3 277 375 39 661 661 49 UNDO DE ESTRADAS IOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 Imounts expressed in Meticais) 3. DONORS DIRECT PAYMENTS uring 2018 Fundo de Estradas benefited from direct payments made by donors for rehabilitation of roads, bridge construction and other activities as detailed below: )escription EUROPEAN BAD INDIA JICA PORTUGAL NDF KOREA CHINA WORLD BANK TOTAL UNION MZN MZN MZN MZN MZN MZN MZN MZN MZN MZN Zevenue )irect Payments 1158811478 2094225239 985009265 1588765200 362854328 60894537 541 503037 637432954 2548922284 9978415322 1158811 478 2094225 239 985 009 265 1 588 762 200 362 854 328 60 894 537 541 503 037 837 432 954 2548 922 284 9 978 415 322 ,xpenses ,onsultancies 12251494 73106600 - - - 57111617 - 14938360 157408071 toad Rehabilitation 906116270 1440029417 985009265 - 362854328 637432954 - 4331442234 oad Upgrading - - - 734 247 537 - - 541 503 037 - 1 275 750 574 ?oad Construction - Zoad Maintenance )rojects Preparation - - - 775992544 - - - - 157017654 933010198 iupervision 240443714 - 78522119 - - - - 20669785 339635618 imergencies Works - 581 089 222 - - - - 2 356 296 485 2 937 385 707 :quipment 3 782 920 3 782 296 920 1158811478 2094225239 985009265 1588 762 200 362 854 328 60894537 541 503037 5207182927 2548922284 9978415321 s JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) ;. DONORS DIRECT PAYMENTS (CONT) ie financing per the project, is analysed as follows (2017) EUROPEAN UNION BAD INDIA JJCA Portugal KOREIA CHINA WORLD BANK Total Description MZN MZN MZN MZN MZN MZN MZN MZN MZN .evenue ,irect payments 1248579119 1017590037 - 836616002 341519 172 570184111 5207182927 897928629 10119599995 1248579119 1017590037 - 836 616 002 341519 172 570184111 5207182927 897928629 10119 599 995 xpenses 'onsultances - 87279506 - - 69516457 17422745 174218708 Road Rehabilitation - - 15871614 341519 172 - 5137666471 5495057256 ioad Upgrading 1248 579 118.60 659295070 - 570184111 - 2478058300 Road Construction - 260 432 300 - 356 252 748 - - - 616 685 049 Road Maintenance - - 4143050 - - - 4143050 rojects Preparation - - 460348590 - - - 460 348 590 'Upervision - 10583160 - - - - 10583160 Emergencies Works - -- - - - - 880 505 883.66 880505884 1248579119 1017590037 - 836616002 341519 172 570184111 5207182927 897928629 10 119 599 995 51 INDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) ;. DONORS DIRECT PAYMENTS kD Description Beneficiary Disbursement redit NO Dsrf USD EUR MZN ZAR SEK YENE MZN Isbursement roj: 210015001 3143 Montepuez - Uchiga Road Project ANE/FE 6342 592 - - - - - 489 774 931 roj. 2100150020398 MuWti Nacala Road Coridor (Mozambique) ANE/FE 9230346 1 403408 116217844 - - 745243532 -oj: 2100150023096 Supplementary Loan Montepuez - Lichinga ANE/FE 7617864 - 4643491 - - 598 197 588 -oj, 2100150028343 Nacale Transport Corridor Phase - Ill ANE/FE 5444 634 - - - - 258 837 896 1: 5150155000401 Mtwara Development Corridor ANE/FE - - - ni: 2100150036499 Mueda - Negomano Road Project Phase I ANEIFE 36 410 - - - - 2 171 292 ______ I Total I_ 28 671346 1 403408 120861 335 - - 2094225239 'o: 2100150013143 Montepuez - Lichiga Road Project Design and Supervision of the RehabiJitation of Montepuez 61DG2007 Road - RuaRa Lot A Aurecon -Studi - - - Supervision of the Lichinga Litunde Road Rehabilitation 71G120D7 SNC Lavalin - 9/DIPRO/2008 Rehabilitatron Est. Montepuez Ra a Lot A CMC/CMCAA JV - - IDIPRO13522015 SUpervision of the Lichinga Litunde Road Rehabilitation CPG - - - - - Rehab- Of road N14 Section bet Montepuez & Ruaga in 101PRO/313/2016 Cabo Delgado China Jiangxi 6342592 489 774 931 Total 6342592 - - - - - 489774931 01: 2100150023096 Supplementary Loan Montepuez- Llchinga DIDIPROI2008 Reabilitaoo da estrada entre Lichinga Litunde CMC-MCM J.V 52 JNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 imounts expressed in Meticais) 'redit NO Description Beneficiary Disbursement USD) EUR MZN ZAR SEK YENE MZN Sup. loan LOT C - Litunde Uchinga Road Part II Seven 8/DIPRO/31312016 Bridges Marrupa and Litunde Chico 7323879 - - - - 575 353 906 Consult Serv. For Desing review of works for Mula - 4/DIPRO/2013 Massangulo- Corredor de Nacala Lea Associates South Asia 293 985 - 4 643-491 - - 22 833 682 Tota 7617864 4643491 - - - 598197588 roj: 2100150020398 Multi Nacala Road Corridor (Mozambique) Upgrading of the N13 Road between Nampula and Cuamba 72/DIPRO/2009 Late 8 CCCC 1 303 384 - - - - 46 934 843 Upgrading of the N13 Road between Narm pula and Cuamba 73/D!PRO/2009 Lote C Gabriel Couto - 1 403408 - - - - 69117840 Supervis,o da Reabilitaq5o da Estrada Malema Cuamba 12/DIPRO12010 Lote C SNC Lavalin - - - 3/DIPRO2013 Multinational Nacala Road Corridor'Project SARI Consulting, Ltd 408 906 - - - - - 24 784 340 Tecnica Engenheiros 4/DIPROIANE/35V2013 Multinational Nacala Road Corridor Project Consultores 383 751 - - - - 23 317 287 7/DIPRO- Rehabilitation and Upgrading of Road N13. between NE31312016 Cuamba - Muilta in Niassa Crig - Covec Joint Venture 7 134306 - 116217844 - - - 581 089222 Total 9230346 1403408 116217844 - - -7457243532 raj: 2100150028343 Nacala Transport Corridor Phase - III Upgrading of the N13 Road between Multa- Massangulo VDIPROi2014 Road CCCC 5444634 - - - - 258 837 896 IDIMAN/2015 Nacala Transport Corridor Phase - III Hendrink Johannes Lotter Total 5444634 - - - - - 258837896 ra 2100150036499 Mueda - Negomano Road Project Phase I VDIMAN- E/350/2017 Mueda Negomano Road project Phase I Gran t Brian Separ Consulting 36410 - - - - - 2171 292 Grand Total 36410 - - - - - 2 171 292 Proect Balance 28671 846 1 403 408 120 861 335 - - - 2 094 225 239 53 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) . DONORS DIRECT PAYMENTS DRLD BANK redit no. Description Beneficiary Disbursement 1USD EUR MZNZAR SEK YENE MZN Isbursements 5 roj: PPCR Pilot Proect Climate Changes ANE/FE :487 - - - - 351 271 473 6 roj: GROWTH POLES Growth Poles ANE/FE 050252--- - 369324 395 40 rej; CRW Crisis Window Response ANE/FE 753 - - - - - 2548922284 rol: Prise 4892 A N E/FE 8585--- - - 94 175987 (873 Refund World Bank 077) - - - - - (51 773491) Total _ 045 - - - - _ 3 311920 647 rojectos rol: jCRISIS WINDOW RESPONSE Consultancy Services for the Technical Support 21DIPRO/2013 Group (TSG)- to Provide Technical Assistance to SMEC Ane Bridges-Gaza 506 - - - 19478740 Assessment of Damaged Caused by VDIPRO2013 floods,preparation of conceptual design and TNM bidding docs,support1n Procurement of Civil Works and Monitoring Supervision for I Reconstruction of Roads and Bridges 585 - - - - - 96 698 75 Works and Services under Output and Performance based Road Contract (OPRC) for YGEIANE/313/2015 Improvement, Rehabilitation and Routine ZHONGMEI ENGINEERING ickage 1 Maintenance Works of Road N220 Chissano - GROUP Chibuto and NIC road Crz.N220 - N1 (3 de 12 Fevererio) in Gaza Province 554 - - - - - 725003254 54 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) redit n0. Description BeneFiciary Disbursement USD EUR MZN ZAR SEK YENE MZN Works and Services under Output and Performance based Road Contract (OPRO) for 21GE/ANE313/2015 Improvement, Rehabilitationand Routine ackage 4 Maintenance Works of Road R859 Maniquenique SBI [NTERNATIONAL - Chilembene and Road R452 Chilembene - 4 Mapapa in Gaza Province 332 - - - - 282815228 Worksa nd Services under Output and Performance based'Road Contract (0PRC) for 3/GEIANE/313/2015 Improvement, Rehabilitation and Routine ackage 3 Maintaence Works of Road N221 Guij6 MOTA ENGIL Ch6kwd and Road R448 Ch6kw6 - Macarrelane 1 in Gaza Province 182 - - - - 91 447 896 Works and Services under Output and 3/GE/ANE1313/2015 Performance based Road Contract (OPRC) for ackage 2 Improvement. Rehabilitation and Routine CHICO GROUP CO. LTD Maintenance Works of Road N221 Chibuto - GuijA in Gaza Province 6 169 --- 401 074 757 ank Charge 594 -- -306147 Review of the Procedures Manual Phase 2 KPMG 4654- - - - 4700245 External Audit and Financial and Procurement 2JPRTSEiFE/2017 Services DELLOITTE & TOUCI-IE (MOCAMBIQUE). LDA 377. - - 3111 998 Transfer between Accounts-Reimbursement 029 - - - - 4 423 703 27 Total 794 - - - 1628590756 rol: Growth Poles IDA 52370 Cs for preparation of conceptual design bidding 5/DIMAN/2013 documents,support in procurement of civil works LEA INTERNATIONAL and supervision for R604 CS and supervision of Rehab Works of R702 7/DIMAN2013 Road between N12 Junction and Nacala-a-Velha LEA INTERNATIONAL in Nampula _952 _ 5 833 55 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) redit nc. Description Beneficiary Disbursement USD EUR MZN ZAR SEK YENE MZN Services.under Output and performance-Based 6/DIMAN(31312016 Roads Contracts(OPRC) for: Lot-2- R505. From Crz.N 304{Ulo ngwe) -Ddmue- Furancu ngo-,(Length JJR MOrAMBIQUE4 103,6Km)lct.14 719.0- - - - 249856462 Services under Output and performance--Based BIDIMAN313/2016 Roads Contracts(OPRC) for: Lot-2 R605: From Cr7-N304(Ulongw.e)-D6mue-Furancungo-(Length JJR MOrAMBIQUE2 103,6Km)LOL22 ___________13.lm)o2053 - - 139885068 Projecto Piloto de Resilincia Climbtica-Lot.1 053 - . - - 63888 2/DIMAN/3112017 Chicanhanine-Nalazi M&T -80 6548788 BankBank chargeB charge 459 . - - - 27420 7 Total 202 . . 435,886 000 roj: IDA 4892-Prise Pooled Fund Cat. I 1/DIPLA- Consultancy services for Upgrading of the Bridge NE/360/2017 Information System to Bridge Management RAMBOL SATRA System 434 - 10 240 641 1DG1360/2016 Resettlement Policy Framework Fulalia Macome 9- 1 325848 51DIMAN/043,11112017 Supply of Softwares of Road Design 01sps 8027 6273620 Consullancy Services for the Construction 3JDIMAN/352/2016 Supervision Services for Pilot Projects of Building cpg Cilmate Resilience 3099- - - 8725 S9 1DIMAN1043111/2017 Supply of Softwares of Road Design Rubicon 76 5302630 Consultancy Services for carryng our impact IDGANE/30/2016 evaluation for world bank NEMUS 589 - - - 6808980 Supply of Scales and System )/DIMAN- Hummingbird.enginearing NE1333/2018 construction 347- 25713 893 ank charge 255-- - -198216 a in in g e x p e n s e s 8- 5 3 2 0 3 9 7 Total , 269 - - . - - 67909734 56 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticats) redit n*. Description Beneficiary Disbursement USD EUR MZN ZAR SEK YENE MZN rof: IDA 4892 IDA 4892-Prise Pooled Fund-Cat.2 & 3 Corisultancy Services for the detailed 3/DIPRO12012 engineering design for the rehabilitation of road OPUS INTERNATIONAL N1 between Pambara and Rio Save in Inhambane Province 446 1471 901 Consultancy Services for the detailed 4DIPRO/2012 engineering design for the rehabilliation of road ARUP INTERNATIONAL Ni between Gorangosa and Gala 627 - 1 442 537 (/DGf360)2015 Relat6rio do Estudo Ambiental(REIA) do projecto de R eabilitap o da N i/N i0 E IA 211-1 869 504 1/DIPLA- Consultancy services for upgrading of the bridge NE/360/2017 information System to bridge Management System RAMBOLLSATRA 414 - 15714201 ank charge 126 7560 Total 824 20 505 703 roj : PPCR IDA-15898-15923 Consultancy services for Assessment of Climate /DG12014 Vulnerability and Identification of options for PONA Building Climate Resilience into the Lower Limpopo Roads Network in Gaza Province 749 Projecto Piloto de ResiliAncia Clim6tica-Lot.3 2 165778 YDIMAN/311/2017 Ndonga-Dindiza JJR MOCAMBIQUE 529 - - 121 215263 Projecto Piloto de Resilifncia Climtica-Lot.2 CCH CONSTRUGOES E UDIMAN/311/2017 Mohambe-Maqueze ENGENHARIA 731 - - - 49976126 Projecto Piloto de ResilIrnca ClimAtica-Lot1 1 ?IDIMAN/311(2017 Chicanhanine-Nalazi M & T EMPREENDIMENTOS 796- . . - 85512263 Consultancy Services for the Construction iDIMAN352/2016 Supervision Services.for Pilot Projects of Building Climate Resilience CPG 8911-. - - - 17789519 6 Transfer from MT 6 008 648 to GFDRR account .46444- - - 363643111 57 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 rnounts expressed in Meticais) redit n'. Description Beneficiary Disbursement ________USD EUR MZN ZAR SEK YENE MZN Transfer to Grawth Poles account, for regularization of payment to M & T Empreedimentos g802 - - - - 6706136 Return to IDA, 077-- 51 773 491 ank charpes 797 18112 11 Total 523- - 696800801 'oj IDA 4892 GFDRR 17375 Projecto Piloto de Resili6ncia Cimatica-Lot.3 1 '-02/DIMAN1311/2017 Ndonga-Dindiza JJR MOQAMBIQUE 037 - - - 72 226 203 Projecto Piloto de Resilincia ClImbtca-Lot2 CCH CONSTRUQC)ES E i-02JDIMAN/311/2017 Mohambe-Maqueze ENGENHARIA 158- -- - 28803930 Projecto Piloto de Resil[Lncia Climatica-Lot 1 i-02/DIMAN/311/2017 Chicanhanine-Nalazi M & T EMPREENDIMENTOS 898- - - - 45361 581 Consultancy Services for the Construction WDIMAN/35212018 Supervision Services for Pilot Projects of Building CPG Climate Resilience 228 - - - - 39945202 Review the.Design Standards for roads tn T34 ilDIPLA/2014 Mozambique TRL 330 - - _ - 11 649 992 ink charges 426 - - - - 25768 3 Total 70777 - * - - 198012676 o: PAGAMENTOS DIRECTOS Works and Services under Output and Performance based Road Contract (OPRC) for /GEIANE/313/2015 Improvement. Rehabilitation and Routine ZHONGMEI ENGINEERING ickage I Maintenance Works of Road N220 Chissano - GROUP Chibuto and NIC road Crz.N220 - Ni (3 de 7 Fevererio) in Gaza Province 663 - - - - - 426 553 562 Works and Services under Output and Performance based Road Contract (OPRC) for VGEJANE1313/2015 Improvement, Rehabilitation and Routine ickage 4 Maintenance Works of Road R859 Maniquenique SBI INTERNATIONAL - Chilembene and Road R452 Chitembene - 3 Mapapa in Gaza Province 064 - - - - - 217288635 58 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) redit n. Description Beneficiary Disbursement USD EUR MAZN ZAR SEK YENE MIZN Works and Services under Output and Performance based Road Contract (OPRC) for 31GE/ANE1313/2015 Improvement. Rehabilitation and Routine ackage 3 MaIntenance Works of Road N221 Gulj- MOTA ENGIL Ch6kw6 and-Road R448 Chikw6 - Macarretane 7 in Gaza Province7 i667 - - - - - 438969434 Works and Services under Output and 3GE/ANE/313/2015 Performance based Road Contract (OPRC) for ackage 2 Improvement, Rehabilitation arid Routine CHICO GROUP co. LTD Maintenance Works of Road N221 Chibuto - Gurja in Gaza Province 20 426 - - - - 1 273 464854 Review the Design Standards for roads in 3IDIPLA/2014 Mozambique TRL 494 - - 20 669 784 V/DIPRO- NE/313/2017 Preparationa of Conceptual Designs and Preparation of Bidding Documents(OPRC) OPUS 976 - - - - - 14 938 360 Services under Output and performance--Based I/DIMAN/313/2016 Roads Contracts(PRC) for Lot-2: R605: FroMOQAMBQUE Crz,N304(UIongwe)-DoMUe-Furancungo-(Length JRMCMIU 103,6Km)Lot.1 e 2 930 - - - - 112 859072 ;/DIMAN-ANE-323- Rehab. R702 Between N12 Junction and Nacala 118 a Velha WIETC 532 - - - - 44 158 583 40 - Total 753 - - - - - 2548922284 91 Grand Total 441 - - - - 5 596 627 954 (38 I Project Balance 396) (2 284 707 307) 59 UNDO DE ESTRADAS OTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 lmounts expressed in Meticais) 1. DONORS DIRECT PAYMENTS JROPEAN UNION redit n. Desecrption Beneficlary Disbursement USD EUR MZN ZAR SEK YENE MZN isbursements ro Phase I Milange-Mocuba Road ANE/FE -- - -- mj. Phase 1/ Milange-Mocuba Road ANE/FE - 18 386 578 - - - - 1158811 478 -1 Total - 16386578 - - -1 - 158811478 Proctos -.- - - - .I~ ~ l. -T rpenses pj:Phasel Millange-Mocuba Road '9/D/PRO108 Milange - Mocuba Phase l Mota-Eqgil Total - - - - oj: Phase l Milan ge-Mocuba Road /D/PRO/2013 Milange - Mocuba Phase Il - Lot 2 Mota-Engi 12805519 906 116 270 Super. Of intergrated develop of Milange - /DiPRO/2012 Mocuba Nicholas ODwyer & Company 3 406.656 240 443 714 Techncal-Assistance for Capacity Development /D1AR2013 Support to the Road Sector In Mozambique Pohl 174 403 12251 494 Total L 16 386 578 - - - _ 158 e11l478 60 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 .mounts expressed in Meticais) Grand Total - 16 386 578 - - - 1 158 811 478 1. DONORS DIRECT PAYMENTS -iNA redit nO. Description Beneficiary Disbursement USD EUR MZN ZAR SEK YENE MZN lisbursements roj: 420302052013112359 N: Machipanda to Serra ANEIFE 1O259582 - - - - 637432954 Total 10 269 582 - - - - - 637 432 954 rojects )xpenses roj: 120302052013112359 N6: Machipanda to Beira Rehabilitation and Upgrading of NB Road China Anhui Forei Econ. )7/DIPRO12012 from Machipanda to Beira Constr. 10 269 582 637 432 954 Rehabilitation and Upgrading of N6 Road Shenyang Engineering )7/DIPRO/2012 from Machipanda to Beira Supervising Total 10269582 - - - - 637432954 Grand Total 10 269 582 - - - - - 637432954 61 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 vounts expressed in Meticais) . DONORS DIRECT PAYMENTS DIA ,edit n. Description Beneficiary Disbursement USD EUR MZN ZAR SEK YENE MZN Disbursements *o: N6: Tica Machipanda to Beira ANEFE 16 314 727 - - - - 985009265 Total 16314727 - - - - 985 009 265 ojects Expenses oj: NG: Tica Machipanda to Beira Rehabilitation of Estrada Nacional N6 China Anhui Forei Econ. VDIPRO12013 Tica - Buzi - Nova Sofala Constr. 341 042 20 837669 Rehabilitation of Road N2801201 between Afcons Infrastructure idiprol31312017 Tica. Buzi and Nova Sofala Provnce Limited 15 973 685 964 171 595 Total 16314727 - - - - 985009265 Grand Total 16 314 727 - - - - - 98500 62 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) 1. DONORS DIRECT PAYMENTS )REA I I D isburseme n t s redit NO Description Beneficiary USD EUR DisbuRsements MZN DisbUSDmEUR MZN I ZAR SEK YENEMZ Disbursements rojy N104 Nampula - Narmetil ANE/FE - - -- roj: Nacala Corr[dor Upgrading phase - I ANE/FE 8904770 _ - - - 541 603 037 Totl - 8904770 - - - -1 - 541503037 Projectos Expenses 'of: N104 Nampula - Nametil Total - __- - - oj: Nacala Corridor Upgrading phase - I Upgrading of the N13 Road between 1IDPRO2009 Nampula and Cuamba Lote A Chico Upgrading-of the N13 Road between 2/DIPROl2009 Nampula and Cuamba Loate B CCCC Upgrading of the N13 Road between 3/DIPRO12009 Nampula and Cuamba Lote C Gabriel Couto Upgrading of the N13 Road between /DIPRO312018 Nampula and Cuamba Late C posco 8094 842 492454259 Con sultoria-Services for Desing and Construction N1 D4 bet Nampula and IDIPRO/2014 Nametil KECC 809 928 49048 778 Total 8 904 770 - - - - - 541 503 037 Grand Total 8904770 - - - - - 541 503037 63 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) . DONORS DIRECT PAYMENTS )RTUGUESE GOVERNMENT redit NO Description Beneficiary Disbursements USD EUR MZN ZAR SEK YENE MAZN Disbursements ro: Llnha dos 300 Milhbes de Euros ANEIFE 01 Linha dos 400 Milhdes de Eurcs ANE/FE - 875236 - - - 352854 199 Total 8752363 - - 362854199 rojeats Expenses roj LInha dos 300 MWihes de Euros; Total roJ: Linha dos 400 Milh6es de Euros Reabilitag,5o da N103 e R657 entre Magige. Elevolutlon-(Monte IDIPRO/2010 Etara e Cuamba Adrano), S.A 2984 968 123488 112 Reabilitaro da R602 entre Magoe e Elevoluton-(Monte )IDIPRO/2010 Mucumburra e da R601 Estima Marceira Adriano), S.A 4742114 196181 269 Consultorfa Reab da R602 entre Magoe e ;IDIPROl2010 Mucumburra e da R601 Estima Marceira Pmeongel 389 363 16 399 966 Reabilitag5o da Estrada N103 e R657 entre Magige, Etara e Cuamba na Zambezia e IDIPRO/2010 Niassa Consulmar 635 918 26764852 Total - 8752363 - - - - 362854199 Grand Total - 8 752 363 - - - 362854 199 64 JNDO DE ESTRADAS 3TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts exprssed in Meticais) ; DONORS DIRECT PAYMENTS -A I I D i s b u r s e m e n t s escription Beneficlary USD EUR M2N t ZARI SEK YENE MZN ontepuez- Lichinga Road Project - Project Number ANEIFE ulti Nacala Road Corridor - Project Number ANE/FE andimba - LichingaRoad Upgrading - Project Number ANE/FE 9621 606 734 247 537 Dnstructo n Bridges on the Road Ile and.Cuamba ANE/FE 1 401 782 -- 154 162553 - - 1414 323 000 854614663 )tal 11.023388 154162553 - - 1 4143230001 1583762200 andimba - Lichinga Road. Upgrading - Project Number )nstruction work of the upgranding of the Mandimba - ,hinga Sinohydro 9 621 606 154162553 734 247 537 Ptal 9621606 - 154162553 - - - 734247537 nstruction Bridges on the Road IIe and Cuamba Koncike Constructions 944000000 498413 120 Chodal ColNippon 103 600 000 57 596 420 mdimba Lichinga Road Upgrading Project Nippon Koei Co 1 401 782 84811 964 p. Construr2o de Pontes e Estradas Rurais na Zamb6zia Chodai 35 911 000 20 925 699 Konoike instruo4o de Pontes e Estradas-Rurais na Zamb6zia Constructions 330812000 192767461 senho e SupervisAo da Reabilitagdo da Estrada )ntepuez - RuaRa Lot A Aurecon -Studi at 1401782 - - - - 1414323000 854514663 Grand Total 1023388 - 1546252 553 1414323000 1588 762 200 65 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) . DONORS DIRECT PAYMENTS kNIDA redit N* Description Beneficiary Disbursements USD EUR MZN 2AR SEK YENE MZN "ol: Danida Danida ANEIFE 527 587 000 627 567 000 Total 627587000 - - - 627 587 000 rojects ref DaidaDa nlda Wo rk of. M L de Terra NCG Section Maval a - )NANE-CDIMU2017 Chfpembe Nizvan Empreiteiros 124 45804 12 405 804 Work of ML of Terra NC Sectbon Chiure IlANE-CD/ML/2017 Velho - NWonhane Conduril - Enqenharia,SA 21 227983 21 227 983 Wor of ML of Terra NC Section N14 Nropa 7lANE-CDML/2016 - Mavanda IIulifemno, Lda 7 720 140 7 720 140 Work of ML of Terra NCG Sectio n Mueda W/ANE-CDIMLU2016 Sede - LUpelwa Con struqJo A. Vatdda 18 554 377 18 554 377 Work of ML of Terra N C Sectio n MahossIne ?/ANE-C)lML/21)17 - Natala LUna Amade Contrusbes 12 480 259 12 480 259 Work from ML dle Terra NC S arnora - )IANE-CD)/ML/2G17 Machel section Devisy Construg6es 16 751 668 16 751 668 TroWo Na mu no Meloco, Ponte sob re o rdo IIANE-CD/ML/2017 Namnicuio Globo Construp6es 18 051 256 18 051 256 Namoco= Meloco section, blidge over th e VlANE-CD/ML/2017 river Namniculo MAJAUA Constru;6es 4 424 024 4 424 024 Work ML of Es de Terra N / A, Nanganda VlAO1320/2017 Chiduadua Sucon Supera Construg6es 14 321 270 14 321 270 Work of ML of Terra n C Section C z N 14 r/ML-TPL/314/2017 Ngura Chald Construg6es 8 995 771 8 995 771 Ci-z R698 Nacuca Sectlon, Construction V/ANE-CMLU2017 Works of 5 Architects Conslnfra 826540 8 256 540 ))AO131412017 _ LUpelwa section - Plate, 15 Kmn ML IAC, Lda 5 231 359 5 231 359 M !rate M ahepe secton, bri d ge over the Ceta Construo,es e IIML-TPL/314/2017 Mate river ServiCos 10 018 938 10 018 938 Work M L of Ea rth Road NIfC, LiUtingi na )/ML-TPUIDPANETI2017 Section - Chicufa Hale Construg8es 6 238 268 6 238 268 ML. Terraplenada Road and NC Section: _ML-TPUDPANET/2017 Fu rancu n2o - Th1wi 15 KM Sempre, Lda 4 868 685 4868685. ML, Terrap[enada Road and NC Section: ' D 2 642 5tOA-DPANET/2016 Madajquisse Massalala OC constru;oes 0 2 0 2 66 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 nrounts expressed in Meticais) Disbursements redit N' Description Beaeficiary USD EUR MZN ZAR SrK YENE MZN ML, Terraplenada Road and NC Section. '7OA-DPANET/2016 Mulaguene Utlongue Cetrain Construc5es 3 159 850 3 159850 ML, Terrapienada Road and NC Section. IIML-TPUDPANET/2016 Furancungo - Thiwi 17 KM lot 4 ALM Construg6es 11 908557 11 908 557 ML, Terrapienada Road and NC Section: 1lML-TPUDPANET2017 Cruz.R604 - Namadzi (17Km) lot 2 Adilson Construpbes 4400243 4400243 ML, Terraced-Road and NC Section: Genela !/OA-DPANET/2016 - H kamande (40Km) 8 626 197 8 626 197 ML, Terraced Road and-NC Section: IIML-TPUDPANET/2017 Chidzolomondo Nhachinde lot 5 Salafo Investimentos, Ida 3717532 3717532 ML, Terraplenada Road and NC Section: IML-TPUDPANET/2017 Malowera - Kassuende 20 km lot 6 GRC Constructora, Ida 9925 904 9925 904 ML, Terraplenada Road and NC Section PML-TPUIPANET/2017 Zobud - Wiriamo 17 Km lot 7 EMOTEC. Lda 1 737 636 1 737 636 ML. Terraplenada Road and NC Section: ,/ML-TPLDPANETI2017 Agua Boa - Chibaene 11 Km lot 8 Mica Construgoes 10 048 625 10 048 625 117/ANE- ML, Terraced Road and NC Section. /REABIDNDA/2017 Zambuey - Cassenga 15 Km lot 9 Servitec 10490 850 10 490 850 i1/ANE- DIREAB)ONDA/2017 N IA Corrane / Mecu Africa Constru6es 7601 459 7801 459 119/ANE- DREABONDA/2017 N / A: Meconta / Nemara TCS 7970435 7970435 20/ANE7- DYREAB/DNDA/2017 N / A. Queen / Namahala Recoba 28618146 28618146 116/ANE- :YREAB/DNDA2017 N / A: Muatua / Chivavela TEAM Construges 8598930 8598930 141OA-DPANE- Work of OA de Terra N / A Chibanzo- MITADERIDANIDAJ2017 Maganza Section - Lot 4 Transporte Chabir 4001 786 4001 786 13/CA-DPANE- Work of OA de Terra N IA Chibanzc- MITADER/DANIDA/2017 Maganza Section - Lot 3 JW Construcbes 3887 952 3 887 952 01/A-DPANE- Work of OA de Terra N / A Chibanzo- MITADER/DANIDA/2017 Maganza Section - Lot 1 EREPTZ Construres 10 681 426 10681 426 .5/A-0PANE- Work of OAde Terra N IA Chlbanzo- MITADERIDANIDA/2017 Maganza Section - Lot 5 ADILSON ConstmAo 8413085 8413085 l2/OA-OPANE- Work of OA de Terra N IA Chibanzo- MITADERIOANIDA2017 Maganza Section - Lot 2 TECOM ConstruySes 4 151 033 4151 033 -6/A.DPANE- Work of OA de Terra N / A Chibanzo- MITADERIDANIDA12017 Magarza Section - Lot 6 CHIRACO ConstruQ6es 4 070 883 4070883 /DANIDA- Work from ML de Terra N / C ITADERIDPANElV2017 Machocomane - Mungozi ADILSON Constru28o 8 177 078 8 177 078 /DANIDA- Work of ML de Terra N I C Slice - ITADERIDPANE1I2017 Machocomane FRAME, Lda 6 707 006 6 707006 YDANIDA- Work of OA de Terra N / A Chiboane - ITADERIDPANEII2017 Chichocane CCH Construg6es 16386510 16388510 67 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 wounts expressed in Meticeis) edit N* Description Beneficiary Disbursements USD EUR MZN ZAR SEK YENE MZN IDANIDA- Work from ML de Terra IN I Panda - TADERIDPANEll2017 Manhombanhane JJR e FILHOS 19616106 19 616 106 MOPHRH/DACU11CONS Construction Inspection of 3 Water Supply .TICP/2017 Systems EG, Lda 935 132 935 132 /DANIDA- Construction of Multifunctional Water Supply TADERIDPANES/2017 System Geomoc,SA 8 176 012 8176012 M0ANIDA- Work of OA de Terra N / A Gamba-Deve- TADER/DPANES12017 Nachilawe section TECOM Construmas 9456 809 9456809 IMOPHRHIDAQUI)CONS Work of ML de Terra N I C Caia-Phaza .TICP/2017 Secon (15,5Km) Concreto ConstrugAo 8469827 8469827 IMOPHRHDAQUI/CONS Construction inspection of 3 Water Supply .TICP/2017 Systems EGC, Lda 1 737 239 1 737239 /MOPHRHIDAQUI/CONS Construction of Multifunctional Water Supply .TiCP/2017 System LINTEL, Lda 7463297 7463297 Total - - 418286512 - - - 418286512 Monotorla 819 909 819909 Grand Total - 208 480.579 - - - 203 480579 68 INDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meicais) . DONORS DIRECT PAYMENTS )F redit NO Description Beneficiary Dibursement USD EUR MZN ZAR SEK YENE MZN Disbursements Develop Capacity for a Climate ResIient Road Sector Fase - III :j: 059 - Mozambique TDR - Nacala Project ANE/FE 773860 3 782 920 - - - 60894 537 Total 773 650 3782920 -0894537 Projectos Expenses oj: CS9 Mozambique Develop Capacity for a Cifmate Resilient Road Sector Fase - III TDR -Nacala Project____ Reabilitan,lo da Estrada Nacional FINNOC-Finish Overseas IDG/360/2016 N6 Tica - Buzi - Nova Sofala Consultants, LTD 773 650 57111 617 DIDG36012016 Shiva Enterprise, Ida 145 990 145 990 CIDG/36012016 Ronil 2550000 2550000 IBIDG/360/2016 Mcompunet 1 086 930 1 086 930 Total 773650 3782920 - - 60894537 Grand Total 773 850 3782 920 - 0894537 69 A JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) .. DONORS DIRECT PAYMENTS tOMERIFC Disbursement redit N' Description Dneficmarye ____ ____ ___ ____ _ ]USD ER MZN ZAR SEK YENE M2N Disbursements 4j: PROMER IFAD ANE/FE - oj: PROMERIMOG jANE/FE 44699183 44899 183 Total 44899183 44699183 Prolectos Expenses PROMER IFAD NIC- Mirate - Nquewene (Km /ANE-CD/ML/314/2015 0,0 Ate 12,8Km) Sempre. LDA - NIC Mavala - Sirimula (13,4 IANE-CDIML314/2015 Kn) Devisy Construcbes NIC Lolae Machoca - Papai IANE-CDIML/12 8,9 Km LAC Construgoes R721 Chiute - Entre Lagos (0- /REAB-TPL/DPN/12 18+700Km-10+900kM) Construp6es Casema R721 Chiute - Entre Lagos (0- tREAB-TPUDPN/12 18+700Km) Intramal NC Mulaparata - Nrassa (13,0 -02/ML-TPUDPN/ANE/13 a 23,2Km) AJK Construo8es NIC Mitande - Namicolo.(Km 8 FML - TPL/DPN/ANEl5 -600) Constru6es PfrAmide - Total 70 JNDO DE ESTRADAS 3TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) redit NI Description Beneficiary Disbursement I USD EUR ZN ZAR SEK YENE MZN roj: PROMER MDG 95.1/ML- N/C ý Muresse - Mucunha - PUPROMER/DPANEZ/15 Km 0+000 å Km io+000 SOJOV Construçes 321 2565 321 265 333/ANE- N/C CRU7 N13 Naquessa (km P/TPUMUPROMERJ17 11.00 å km 24.00) CASA 6825 875 6828875 330/ANE- NC CRUZ N13 IAPALA (Km P/TPUMUPROMER/17 0+000 å Km 6+700) GLVEN Construções 5087484 5057 484 Construçåo do aterro de acesso da Ponte sobre 0 Rio 4/ML-TPUPROMER-DPANE- Namalrrué de 35 m. Km '2017 3+100 SCOM 2484 250 I3/ML-TPUPROMER-DPANE- M Localizados na Estrada . 2 484 060 '2017 N/C: Murere - Mucunha Gurue JW Construções 3 651 642 3651642 1.2/AO-TPUPROMER-.PANE- M Localizados na Estrada 2017 N/C: Murece - Mucunha Flecha Construç6es 3861 444 3851 444 Construåo da Ponte sobre o .1/AO-TPUPROMER-DPANE- Ria Niketxe.de 11 Km '2017 Murecece Mucunha Chiraco Construøes 455 620 456 620 )31/ANE- N/C CRU N13 IAPALA (Km P/TPUMUPROMER117 6.70 å Km 8.50) EMOTEC 10170 009 10170009 332/ANE- N1C CRUZ N13 Naquessa (km 1 P/TPUMUPROMERII7 0.00 å km 11.00) SOJOVI Construções 8090190 8 090 190 /ML-TPLJPROMER/DPANE- 2017 ML NC Caiaia/Napala SOJOVI Construçbes 1843613 1 43613 Total - 42795203 - - - 42795203 Grande Total - 42 795 203 - - 42 795 203 Project Balance - 1 903981 - - . .9981o 71 JNDO DE ESTRADAS DTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) L DONORS DIRECT PAYMENTS ADIOFID reditW N Description Beneficiary Disbursement USD EUR MZN I ZAR SEK YENE MZN Disbursements oij PROPESCA OPEC 1540PECPRPESCA ANE/FE 105 724 361 105724361 ,o: PROPESCA OFID 154FIDAPRPESCA ANEIFE 2 06: PROPESCA UE 134UEPRPESCA ANEFE 25 000 000 25000000 Total 130 724 351 130 724 351 Projects Expenses ol PROPESCA OPEC 1540PECPRPESCA /ML-TPL/DPAGAZA314/2016 NC: Chilaulene -Maheile S Ccnstruioes 1 433 782 1 433 762 NIC Nova Mambone - /MR-TPLDPI/201 8 NIC Nova Mambone - Matasse Matasse 5 521 560 5521 ,60 (MR-TPL/DPlt2018 N/C Vianculo-MarngalIce N/C Vilanculo-Mangaftce 740 000 740 000 NIC.Manhala Rex- fMR-TPL/DPU2018 NIC Manhala Rex- Nhabanda Nhabanda 8 629 957 8629957 AR- UPROPESCA/DPANES2018 N/C Chinamancondo - SengD CELMACHA 2017746 2017 746 AR- L/PROPESCAIDPANES/2018 Chinamancondo -Praia Nova Maji Construcbes 353 451 363 451 ,1 /MI[TPLDPANE-Z/2017 N320 Abreu-Sadina ALMANAZI Constru2ces 4703472 4703472 3,2/MI1TPLIDPANE-Z12017 Construgo de Obra de arte Allf ConstruiSes 1 496 347 1 496 347 72 JNDO DE ESTRADAS )TES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 mounts expressed in Meticais) redit N' Description Beneficiary Disbursement USD EUR MZN ZAR SEK YENE M2N l .SIMVTPUDPANE-ZJ2017 N320 Abreu-Sadina Sempre - Sociedade E. LDA 7317 791 7317791 [IIM[ITPUDPANE-Z2017 N/C : Nicadine / Dgo ro Alif ConstruçQes 2 946 983 2946983 1,2/MITPUDPANE-Z/2017 Nc Zalala - Sopinho Troica Construçåes 4872 561 4 872 561 '6,3MR/TPUDPANE-Z/2017 NiC Impaca -Vasco Marrumbane Troica Construçes 256 150 256 150 ,3/MITPUDPANE-Z/2017 NI Caravefa-Namala JW Contruçes 6714226 6714226 P720-TPUDFANE-Z2016 NI: Nicadine / Dogoro Construç6es Karina 1 228 200 1 228 200 ,4/MIITPUDPANE-Z2017 N/C Vasco - Marrubune Kassi Kassi Constru;öes 5 785 059 5785 069 N/C C ruz N 12 N acala Po rto- 172/ANE-NPITPUREAS/201 Mathelene ORATAMERA LDA 8120482 8 120482 126/ANE- R681: Cruz.N324 (Ivate)/Larde 2TTPUREARIPROPESCAJ2017 (35Km) Maisha Construões 6 192 361 6 192 361 27/ANE- N/C 7 de Abril Cruz.(R703) 21TPUREABIPROPESCA12017 Baixo Pinda ECM.Construç5es 27611 188 27611 168 28ANE- IITPUREABIPROPESCA/2017 NIC Mazua-Simuco Moçambique ConstruçCes 8 157 693 8 157 693 29/ANE- N/C Cruz.340/340 Moma- ITPUREAB/PROPESCA/2017 Mucoroge Sojovi 10638257 10638257 1 5/ANE- NIO Namige - Meculuvelane liTPUREAB/PROPESCA/2017 20Km HM Engenharia Lda 7316653 7 316 653 fMR-TPU312,112018 Quissanga - Tandenhangue RW Construções 3307558 3307558 IMR-TPU312,1/2018 NO. Muco jo - Pangane Globo Construçöes 4395713 4395713 'MR-TPL/312,112018 NO: Mucojo - Darumba 22 Km EMACC 879 637 879 637 R764. Cruz R762 Ofumbe ( MR-TPU3121f2018 16Km> Construções Aissa 637 863 637 863 MR-TPU312,1/2018 Cruz. Darrumba - Olumbwa SERVITEC B11 568 811 566 Total - - 132096268 - - - 132096258 Grand Total - 1 371 897 - - - (1 371 897) 73 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amounts expressed in Meticais) 29. OTHERS EXPENSES Description 2018 2017 FE Headquarters 157 323 749 - ANE Headquarters 1 022 623 - ANE Delegations 2 38 FE Delegations 22 - 158 346 396 38 30. EVENTS AFTER THE BALANCE SHEET DATE After the reporting period, until the date on which the financial statements were authorised for issuance, there have been no other favourable or unfavourable events for Fundo de Estradas that affect these financial statements or require disclosure therein.