10. STATEMENT OF DESIGNATED ACCOUNT
           Statement of designated for the year ended December 31, 2018 comprises:

Source of financing                      IDA Grant               IDA Credit           IDA Credit                  Total
                                       No. H934-KG              No. 5430-KG          No. 5430-KG
Currency                            US dollar               US dollar             US dollar
Bank account                        1180000060619045        1180000060619045      1180000060619348
Bank                                CJSC "Demir Kyrgyz International Bank"
Bank's location                     245, Chui avenue, Bishkek, Kyrgyz Republic

Balance as at January 1, 2018                   181,431                                                                  181,431

Advances                                        100,000                200,000                                           300,000
Replenishment of designated
account                                         735,529                                        316,787                 1,052,316

Total funds received to
designated account                              835,529                200,000                 316,787                 1,352,316

Expenses paid                                (280,464)                   (349)                 (534)                   (281,347)
Transfer to transit account                  (512,328)               (156,399)             (258,353)                   (927,080)
Transfer between designated
accounts                                                              (43,252)                  43,252

Balance as at December 31,
2018                                            224,168                                        101,152                   325,320


     11. UNDRAWN FUNDS
          As at December 31, 2018, undrawn funds are presented as follows:

                                                                                  IDA Credit              IDA Grant
                                                                                 No. 5430-KG             No. H934-KG
                                                                                    inSOR                   inSDR

         Approved financing amount                                                  23,900,000               5,300,000
         Disbursed during the period from July 25, 2014 to December 31, 2018        11,658,376               4,811,263

         Undrawn financing amount                                                   12,241,624                488 737

         Funds received as at January 1, 2018                                        8,447,824               4,219,570
         Disbursed in 2018                                                           3,210,552                 591,693

         Funds received as at December 31, 2018                                     11,658,376               4,811,263




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12.   COMMITMENTS

      In the normal course of activities, the Project concludes agreements with suppliers of goods and services
      in accordance with the established budget and procurement plan. As at December 31, 2018 the Project
      had following commitments:

      Counterparty                Contract#              Cost per         Contract       Paid up to        Remaining
                                                         contract         currency      December 31,      amount to be
                                                                          (In CCV)          201�               paid
                                                                                          (In CCV) ..       (In CCV)

LLC "Xinjiang Beixin
Road and Bridge Group
Co Ltd"                     Nsi CARs/lCB-CW              US dollar        34,120,271       21,888,647       12,231,624
LLC "EGIS International"    N!! CARs/CS/CQBS-01          US dollar           789,333           758,731          30,602
LLC "EGIS International"    N!! CARs/CS/CQBS-01            Euro               842,482          771,498          70,984
LLC "BETAMONT s.r.o."       NS! CARs-lCB-G-01              Euro            1,424,000         1,357,786          66,214
Alexandra Spemol            N2 CARs/CS-IC-15&16          US dollar            341,686          206,222         135,464
LLC "Kyrgyz San Bao"        NS! CARs/SH-G-01             US dollar             91,000           90,800             200
LLC "Baker Tilly Bishkek"   N2 CARs/CS-LCS-02            US dollar           · 49,815           29,�0Q          19,975
Borbuev S.                  N2 CARs/CS-IC-17            Kyrgyz Som         2,105,403       . 1,321,_123        784,280


13. LEGAL CASES

      There were no any legal claims related to the Project.


14. EVENTS AFTER THE REPORTING DATE

      During 2019 until the date of issue of these project financial statements, the World Bank has replenished
      the designated account of the Project as follows:

       Source of      Withd-            Date                   Direct         Replenishment               Total
       flnanclng      rawal                                  payments          of designated
                     applica­                                                 account ("DA")/
                       tion                                                    Statement of
                                                                               expenditures
                                                                                  ("SOE")
       IDA Credit No. 5430-KG
                       29               April 9, 2019           377,810                                      377,810
                       31               May 1, 2019                                      97,423               97,423

                                                                377,810                  97,423              475,233

      Withdrawal application No. 30 for 6,780,641 Kyrgyz som was deleted.

      Based on the letter dated March 7, 2019 the Project completion date was extended until September 30,
      2019.

      As at the date of issue of the project financial statements no significant events or transactions occurred
      which should be disclosed in the project financial statements, except for the events or transactions
      described above.




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