ФarАRGRоuр TSIAR-FINANS, LLG
Ж}2а, Chust street, Tashkent, 100077, Uzbekistan
8 Tel/Fax: (998-71 ) 262-50-70, 262-50-90, 2В2-08-47
Ж E-mail : reception@ciar,uz; reception@ciarg rоч p.net
www,ciar.uz
"FERGHANA VALLEY WATER RESOURCES
MANAGEMENT PRoJECT _ PHASE ll"
IDA CREDlT No.6083-UZ
EU GRANT No. тFоА9862
lNDEPENDENT AUDlToR,S REPoRT
ON SPECIAL PURPOSE FINANC|AL STATEMENTS
FоR тнЕ YEAR ENDED 31 DECEMBER 2022
lndependent [\4епllrеr ol Б' GENEVA GRoUP |NTERNAT|oNAL
_,
фсrак GRoup TSIAR-FlNANS, LLc
lNDEPENDENT AUDlToR,S REPoRT
То: Management of the Сепtеr for lmplementation of Fоrеigп lnvestment Projects iп Water Sector
We have audited the accompanying Special Рчrроsе Fiпапсiаl Statements (hereinafter - Fiпапсiаl
Statements) of the "Fеrghапа Valley Water Resources Management Project - Phase ll" (hеrеiпаftеr -
Project) financed against the credit proceeds of the lпtеrпаtiопаl Development Association (hereinafter -
lDA), based оп the provisions of the Financing Аgrееmепt No.6083-UZ dated 20 SерtеmЬеr 20,17
(hеrеiпаftеr- the Fiпапсiпg Agreement) and the grant рrосееds of lnternational Вапk fоr Reconstruction and
Dечеlоргhепt / lnternational Development Association acting as ап Administrator of the Ечгореап
Commission - World Вапk Раrtпегshiр Рrоgrаm Asia Рrоgrаmmаtiс Single-Donor Trust Fчпd, based on the
provisions of the EU Grапt Agreement No.TFOA9862 dated 13 Арril 2019 (hеrеiпаftеr - the EU Grant
Agreement) as of 3,1 DесеmЬеr 2022 апd fоr the уеаr then ended.
The Special Рчrроsе Fiпапсiаl Statements соmрrisе:
(i) for Credit No.6083-UZ: Summary of Sочrсеs and Uses of Fчпds showing the World Bank and
Сочпtеrраrt funds separately, Detailed Statement of expenditures оп Project components апd
subcomponents, Designated Ассочпt Statement, Оthеr Accounts Statements, SOE withdrawal schedule,
Reconciliation statement fоr replenished and rесочеrеd SOE disbursements, Direct payments schedule,
Special рчrроsе Ьаlапсе sheet;
(ii) for Grant No.TFOA9862: Sчmmаrу of sочгсеs and uses of EU Grant funds, Detailed Statement of
use of funds Ьу project components and sчЬсоmропепts, Grапt and Other Accounts Statements, SOE
withdrawal schedule, Reconciliation statement fоr rерlепishеd and rесочеrеd SOE disbursements, Special
рчrроsе Ьаlапсе sheet; апd
(iii) а sчmmаrу of significant accounting policies and other ехрlапаtоrу information.
The Fiпапсiаl Statements have Ьееп рrераrеd Ьу the management of the Сепtеr fог lmplementation of
Fоrеigп lnvestment Projects iп Wаtеr Sector (hеrеiпаftеr - Center) according to the lnternational Public
Sесtоr Accounting Standards (lPSAS), based оп the cash flow method, issued Ьу the lnternational Public
SectorAccounting Standards Воаrd of the lnternational Fеdегаtiоп of Accountants.
Auditor's opinion
lп очr орiпiоп,
. The above-stated Financial statements give а true and fair view of the sочrсеs and uses of the
"Ferghana Valley Water Resources Management Project - Phase ll" Project funds as of DесеmЬеr
31,2022, and for the уеаr then ended and comply with conditions of the Financing Аgrееmепt, EU
Grant Agreement and lPSAS - cash basis of accounting;
. All disbursed lDA credit and Eu Grапt proceeds have Ьееп used solely fоr the project objectives as
епdоrsеd Ьу the Fiпапсiпg Agreement and EU Gгапt Аgrееmепt; and no Credit and Grапt proceeds
have been used fоr оthеr purposes;
. Моrеочеr, with rеsресt to soEs, adequate supporting documentation has Ьееп maintained to support
claims to the lDA fоr rесочеrеd of expenditures iпсчrrеd under the Credit No.6083-UZ and чпdеr the
Gгапt No.TFOA9862; and the expenditures comply with objectives stipulated iп the Financing
Agreement No.6083-UZ and EU Grant Аgrееmепt Nо.ТFОА9862;
. The Designated Account Statement on lDA Сrеdit No.6083-UZ and Grапt Account Statement оп Grant
Nо.ТFОА9862 for the уеаr ended 3'1 December 2022 give а trче and fair view of the financial position of
the Designated and Grant Accounts of the Project as of 31 DесеmЬеr 2022 апd of the cash flows for the
for the уеаr then ended and comply with the World Bank's guidelines.
Basis for opinion
We conducted очr audit iп ассоrdапсе with lпtеrпаtiопаl Standards оп Auditing (lSAs), Очг responsibilities
чпdеr those standards аrе fчrthеr described iп the Auditor's Responsibilities fоr the Audit of the Fiпапсiаl
Statements section of очr rероrt. We аrе independent of the Сепtеr in ассоrdапсе with the lnternational
Ethics Standards Воаrd of Accountants'Code of Ethics for ProfessionalAccountants (lESBA Code), and we
have fulfilled очr оthеr ethical responsibilities iп accordance with this code. We believe that the audit
evidence we have obtained is sufficient and аррrорriаtе to provide а basis fоr очr opinion.
lmportant circumstances - accounting principles and distribution restrictions
We drаw attention to Note 2 to the Special Purpose Fiпапсiаl Statements, which describes the basis of
accounting. The Special Purpose Fiпапсiаl Statements аrе рrераrеd to assist the Center to comply with the
financial rероrtiпg provisions on the rеqчirеmепts conditions of the lPSAS_cash basis.
фсrак GRoup TSIAR-FlNANS, LLc
As а геsчlt, the Special Рчrроsе Fiпапсiаl Statements may Wоrld Вапk and the Gочеrпmепt of the Republic
of Uzbekistan, as well as the Сепtеr, and should not Ье distributed to оr used Ьу оthеr parties.
other Matter
FinancialAudit rероrts and opinions, as ruled Ьу the rеqчirеmепts set Ьу the World Вапk, shall Ье uploaded,
published and publicly accessible оп the World Bank's website.
Management's Responsibility
The management of the Сепtеr is rеsропsiЬ|е for рrераrаtiоп and fаir presentation of these special рчrроsе
financial statements based оп the cash flow basis iп ассоrdапсе with lPSAS-cash basis. This responsibility
includes designing, implementing and maintaining internal control relevant to the рrераrаtiоп and fair
presentation of the special purpose financial statements that аrе frее from mаtеriаl misstatement, whether
due to frачd оr еrrоr; selecting and applying appropriate accounting policies; and making accounting
estimates that аrе reasonable in the circumstances.
Auditor's responsibilities for the audit of the financial statements
Our objectives аrе to obtain rеаsопаЬlе assurance about whether the financial statements as а whole аrе
free from material misstatement, whether due to fraud оr еrrоr, and to issue ап auditor's rероrt that includes
our орiпiоп. Reasonable аýsчrапсе is а high level of assurance, but is not а guarantee that ап audit
conducted iп ассоrdапсе with lSAs will always detect а mаtеriаl misstatement when it exists. Misstatements
can arise frоm fraud оr еrrоr and аrе considered material if, individually оr iп the aggregate, they could
rеаsопаЬlу Ье expected to influence the economic decisions of users taken on the basis of these financial
statements.
As раrt of ап audit in ассоrdапсе with lSAs, we ехеrсisе professional judgment and maintain professional
skepticism throughout the audit. We also:
. ldentify and assess the risks of mаtеriаl misstatement of the financial statements, whether due to frачd
оr еrrоr, design and реrfоrm audit рrосеdчrеs responsive to those risks, and obtain audit evidence that
is sufficient and аррrорriаtе to provide а basis fоr очr орiпiоп. The risk of not detecting а material
misstatement resulting frоm frачd is highеr than for one resulting from еrrоr, as fraud may involve
collusion, fоrgеrу, intentional omissions, misгерrеsепtаtiопs, оr the очеrridе of internal control.
. obtain ап understanding of iпtеrпаl control rеlечапt to the audit in оrdеr to design audit рrосеdчrеs that
аrе аррrорriаtе iп the сirсчmstапсеs, but not fог the purpose of ехрrеssiпg ап opinion оп the
effectiveness of the Сепtеr's iпtеrпаl control.
. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disсlоsurеs made Ьу management.
о conclude оп the аррrорriаtепеss of management's use of the going сопсеrп basis of accounting and,
based оп the audit evidence obtained, whether а mаtеriаl uncertainty exists related to events оr
conditions that may cast significant doubt оп the Сепtеr's ability to continue аs а going сопсеrп. lf we
conclude that а mаtеriа| uncertainty exists, we аrе rеqчirеd to drаw attention in очr ачditоr's rероrt to
the related disclosures iп the financial statements оr, if such disclosures аrе inadequate, to modify our
opinion. Очr conclusions аrе based оп the audit evidence obtained up to the date of очr auditor's героrt.
However, future events or conditions may cause the Сепtеr to cease to continue as а going сопсеrп.
о Evaluate the очеrаll presentation, strчсtчrе and content of the financial statement, including the
disclosures, and whether the financial statements рrеsепt the чпdегlуiпg transactions and in а mаппеr
that achieves fаir presentation.
We communicate with the Сепtеr's management rеgаrdiпg, among other matters, the planned scope апd
timing of the audit and significant audit findings, including апу significant deficiencies iп iпtеrпаl control that
we identify during очr audit.
We also provide the Сепtеr management with а statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other mаttегs
that may rеаsопаЬlу Ье thought to Ьеаr on очr independence, and whеrе applicable,
Auditor:
TSIAR-FlNANS LLc
2А, Chust Street,
Tashkent,,l 00077, Uzbekistan ГOпrz
к25> March 2023
Fеrgапа Vа|lеу Water Resources Мапаgеrпепt Phase-2 Project
lDA cRED|T N9 608З_Uz
SUMMARY ОF SOURCES AND USES ОF FUNDS SHOW|NG ТНЕ WORLD BANK AND
for tho period from Jап ua ry 01, 2022 to Decomber 31, 2022
(lп USD)
Actl,tal
Yеаr to Date Cumulative to {)ate
sources of Funds
lDд Funds 6 930 562 49 в75 581
t)S- д 360 000 6 560 000
Dircct paymontS 6 570 562 43 315 5в1
Government paylnents 2 о79 7в7 2 в5в 225
shаrе of the llcpublic of uzbckistan 2 075 74з 2 в12 вв0
[]id, [)ocuments rесеiрts 0 40 095
Other 4 02.4 5 2-51
Total 9 010 329 52 7зз 806
iDд Funds
Works, goods, Consulting, Non-consulting, Trairrin91, Operating
coSt
Sub соm Д1 f]cstoгation of the main апd iпtсr,fаrп1 irrigat]on nctwor
with facilitics 3 51в в25 15 04в 71
sub-com д2-Nсw construction of irrioation wells 2 505 ввз 1в 703 54с
sub-con] дз- lleconstruction of pumpinq station 1 в21 2з1 в 4зз з9:
suь-сопl д4-сопstruсtiоп of pumpinq station 339 595 5 75в 10:
Sub-com д5-Strепqthепiпq of coast
sub,com д6,сопчегsiоп of the kandion sedimcntation to the
:leScrVoir
SuЬ-соm д7-[)ачmепt of compcnsation fог land allocation
Sub-com ДВ-[)urсhаsе of lаЬоrаiоrу equipment
suь-соrп []1-дqriсultuгаl intensif icaiion and dive гsif ication
Sub,com [32 lmprovcd Watcr lйапаgеп-]спt
Sub-com t]3 I)ilot and lnl-]ovatiVo approachcs/au
fu р_-
go_m с ]]QpgE]m g 9qe9 ! _Ll ]l \]_9le1I__ _ 497 90в 1
,l9Q
52 454
9_4в
Sub-com С2,[)uгсhаsе of сагs fог [)lU
-сопl ()З дппttаl attdit aо оАп 52 5вв
Sub-com С4- Мопitrоiпg апd evalUation 265 559 4т1 097
Sub-com C5-Serviccs of thc supervision в55 в32 2 502,11,|
Sub-com С6-[)апсl of рurсhаsеs 210 7зз
Sub-com С'l, Т cchnical audit
Sub соm СВ-[:пчirопmспtаl рlап
Total 9 824782 52 633 892
'endor's docutnentation
cndeas documentation ?,45 зв 912
Total 245 зв 912
other costs plu
1
m-5251
Total proiect expcnditure 9 829 051 52 67в 054
Excoss of receipts over Paytnetlts (81 8 723) 55 752
Оропiпо Cash Ваlапсе
lt)д []unds в73 046 0
_GруgцдsЦ рзудепВ _ 257 0
Total 873 303 0
Net available cash 54 581 55 752
CIosincl Cash Balallce
l[)д I:unds 54 569 54 56€
(;overnmont paymontS 0
т 54 569 54 569
Xchang]e rato (iittoronce (12 l loJ
оп Маrсh 25, ?,а?,3
i\*ili
lб 2li
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l,zubareva
Dcputy chief AccoUntant
"SUmmагу of Sources апd USeS of [:UndS Showiпg thc World []апk and соUпtеrрагt fUnds" Separately to Ьс rcad il,]
conjunction wlth Note s thcrcto forming ап iпtоgrаl раrt of thc [)roject special financlal state ments.
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Fеrgапа Valley Water Resources Management Phase-2 Project
lDA cREDlT Ns 6083_UZ
Special financiaI statement for the project
RECoNclLlATloN STATEMENT FoR REPLENlS}lED AND REcOVERED SoE DlSBURSEMENTS
for the period from January 01 , 2022 to DесеmЬеr 31 , 2022
(USD)
Total SOE Expenditures 1 10з 074
lncluding oxponscs fоr 2О21 according to WД No,101- (261 94з)
Total в41 131
[lссочсrсd 1 103 074
lncluding rссочt;rсd оп WA No.'l 01* (261 943)
Total B41 131
Difference 0
-
Expctlditures tгlсчrrеd iп October - DсссmЬсr 2021 (WA No,101)
Signcd fоr and оп bchalf of t оп Магоh 25,2023
Sh.Rajametov.
Project Manager
l.Zubareva
Deputy Chief Accoun
"llcconciliation Statcmcnt fоr tloplcnished and llccovorcd SOE Disbursements " to Ье rсаd in conjunction with Nott;s
thcrcto fоrmiпg ап iпtсgrаl раrt of thr: Projcct special financial statomcnts
Fеrgапа Vаllеу Water Resources Management Phase-2 Project
lDA CRED|T Ns 6083-UZ
Fеrgапа Valley Water Resottrces Management Phase -2 Project
Schedule of direct payments under the lDA Credit
for the period from Jantrary 01,2022 to DесеmЬеr 31,2022
(USD)
Total amount in
withdrawal
USD
application No Category рачmепt сurrепсч
99 Works,Goods,Consulting services,Non- Consulting,'T'raining, Opcrating Cost USD 5в 356 50 5в 356,5о
100 Works,Goods,Consulting services,Non- Consulting,T rаiпiпg, Operating Cost USD 1 13 01в,77 1 1з 01в,7 /
102 WoгkS,GoodS,ConSulting Services,Non- ConSUlting,]raining, opcrating Cost USD 117 962,22 117 962,22
,130,00 ,]
103 Works,Goods,()onsulting sorviccs,Non- Consulting,'T rаiпiпg, Opcrating Cost USD 147 147 з0,00
104 Works,Coods,Consulting scrviccs,Non- Consulting,''I rаiпiпg, Opcrating Cost USt) 559 07в,в9 559 07в,в9
105 Works,Goods,Consulting scrviccs,Non- Consulting,'l raining, Operating Cost USD 260 069,1 5 260 069,,1 [j
,1
106 Works,Goods,Consulting scrviccs,Non- Consulting, T-raining, Орсrаtiпg Cost USD 1 0зв 216,60 0зв 2,] 6,60
107 y'Vorks,Goods,Consulting scrviccs,Non- Consulting,'T rаiпiпg, Opcrating Cost USD 159 з35,00 159 335,00
10в WoгkS,GoodS,conSulting services,Non- conSulting,'I'raining, opcrating cost USD 66 417,12 66 417,12
,lз
110 Works,Goods,Consulting scrviccs,Non- Consulting, Т raining, Opcrating Cost USD 1 13 065,00 1 065,00
111 Works,Goods,Consulting scrviccs,Non- Consulting,'T raining, Opcrating Cost USD 25 46в,65 25 46в,65
112 Works,Goods,Consulting scrvices,Non- Consulting, Т raining, operating Cost USD 94 в76,00 94 в76,0с
,l
13 Works,Goods,Consulting services,Non- Consulting,'T'raining, Opcrating Cost USD 122 749,46 12.2, 7 49,4с
114 Works,Goodз,Consulting serviccs,Non- Сопsultiпq,'Тrаiпiпg, Operating Cost USt) 522 з94,зз 5?.?. зg4
115 Works,Goods,Consulting scrviccs,Non- Consulting,'T rаiпiпg, Opcrating Cost USt) 60 43в,67 60 4зс
116 Works,Goods,Consulting scrviccs,Non- Consulting,'T raining, Opcrating Cost LJSD 100 694 100 694
117 Works,Goods,Consulting serviccs,Non- Consulting,'l ralning, Operating Cost USD бв7 5в7,00 бв7 5в l
11в Works,Goods,ConSUlting scrvices,Non- conSulting,'T rаiпiпg, operating Cost USD 73 95в,00 /З 958
Е
120 Works,Goods,()onsulting serviccs,Non- Consulting, T'raining, Opcrating Cost USD 12з 261,2з 12з 261
122 Works,Goods,Consulting scrvices,Non- Consulting,I'raining, Орсrаtlпg Cost USD 50 295,00 50 295
123 Works,Goods,Consulting services,Non- Consulting, Т-rаiпiпg, operating Cost USD бз 745,7в 63 /46
124 Works,Goods,Consulting scrviccs,Non- Consulting,''I rаiпiпg, Ореrаtiпg Cost USD 621з72,22 621 з72
126 Works,Goods,Consulting sorvices,Non- Consulting,l'raining, Operating Cost USt) 2в7 214,92 2в7 215
127 y'Vorks,Goods,ConSulting scrvices,Non- conSulting, T'raining, operating Cost USD 4з 494,16 4з 4s4
128 /Vorks,Goods,Consulting services,Non- Consulting,'T'raining, Operating Cost USD 74 551 ,00 74 551
131 y'Vorks,Goods,Consulting scrviccs,Not-l- Consulting, ] raining, Opcrating Cost USD 62 в72,зз 62 в72
132 /Vorks,Goods,Consulting scrviccs,Non- conSUlting,'] raining, opcrating cost USD 202 219,20 202 219
,|
33 Works,Goods,ConSUlting Scrvices,Non- Consulting, T'raining, Ореrаtiпg Cost USD зз9 594,в4 зз9 59tj
134 Works,Goods,Consulting scrviccs,Non- Consulting,Training, Opcrating Cost USD 1 17 659,00 117659
136 /Vorks,Goods,Consulting scrviccs,Non- Consulting,'I rаiпiпg, Opcrating Cost USD 125 з65,91 1 25 з66
,lзв Works,(joods,Consulting services,Non- Consulting, Т raining, ()peratinq Cost USD 37 545,20 37 545
139 Works,Goods,Consulting scrviccs,Non- Consulting,'Iraining, Opcrating Cost USD 100 556,00 1 00 55с
Total 6 570 562
Signed for and on lv]arch 25,202З
Sh.Raj
Project
\7о-.rХЧ
\еra&ь
l.Zubareva \*оа,.,
Deputy Chief Ассо
[)irссt [)aymcnts Schcdulc - lDД Credit to Ьс read iп conjunction with Notes thcreto forming an intcgral part of the F)rоjоt;t spc:r;ial
financial statcmcnts.
Fе rg а п а Va l l еу *",:ьlтiшЁ е nt Р h as е-2 Р roj ect
лх ъъътm
SPECIAL PURPOSE BALANсE SHEET AS оF DECEMBER 31,2022
Notes
as of 31 .12,2022 as of 3,1 .12,2021
ASSETS
cash and cash equiva|ents 54 569 в73 303
Fixed assets 68 803 бв 803
proiect expenditures:
lDA Funds 49 76в 530 42 019 491
Government funds 2 в12 вво 7з7 137
тепdеr docu m c;ntatiorl 29 16в 2в 922
Оthеr expenses 5 251 1 226
Total expenditures 52 6,15 82в 42786 776
Gain (Loss)from forcign exchangc
differences 1 1вз 1 171
Total assets 52 740 звз 43 730 053
Accumulated funds
Project financing
lDд Funds 49 в75 5в,1 42 945 01 9
Government funds 2 в12 вв0 7з7 137
тепdеr documentation 40 095 40 095
Оthеr expensc;s 5 251 l zzc)
Total financinq 52 733 в07 43 723 477
llc;valuation of [--ixod дssеts 6 576 6 576
TOTAL ACCUMULATED FUNDS 52 740 звз 43 730 053
Signed fоr and on bc,.half of lМапаgеmепt оп Маrсh 25,202З
uJUl1].I,
у э_ \ [*.Lj '
к*ж
"Special Рurроsе Ваlапсе Shc;et to Ье rеаd iп conjunction with Notes thеrеtо fоrmiпg ап integral раrt ot the
Projc,.ct special financial statements.
SPEClAL DESlGNATED ACCOUNT STATEMENT
_ for the period from January а1,2022 to June 15,2022
дссоuпt Ns 2262 бв40 7054 05з1 9002
Dopositary [Запk SСts "lnFinBank "
дddrсss lJzbekistan, 100084'[ashkent Navoiy str, 1ВВ
-Гурс
of account Designatcd Account
Crcdit No 60ВЗ-UZ
Сurrспсу tJSt)
USD
Ваlапсе as ofJanuary 1,2022
в65 5вз
cash inflow: 0
Total 0
cash outflow:
Сопчсrsiоп in LJZS 545 00()
l'ransfc:r of thtэ balancc of funds duc to the closing of thc
accoUnt 320 5вз
Total в65 5вз
Ваlапсе as of June 15,2022 (date of account closure)
Signcd fоr and on bchalf of l\Лапаgеmопt оп Маrсh 25, ?,023
S
l.Zubareva
Special Designatod Account Statomcnt to Ье rcad iп conjunction with Notes thereto forming an intcgral part of thc l)rojc:ct
spocial financial statcmonts.
SPEclAL DESlGNAI,ED AccoUNT STATEMENT
for the period June 1 3, 2022 to December 31, 2022
Account Ns 2021 0в40 в054 0531 9009
Depositary Вапk JSCB "lnFinBank "
Addrcss 1ВВ Navoi str., Tashkent, 1000В4 Ljzbckistan
Т уре of account Designatcd Account
Credit No 6083-UZ
Currcncy LJSt)
USD
Ваlапсе as of June 13,2022 ( date of account opening)
0
cash inflow:
J'rапsfеr of tho Ьаlапсс of funds duo to tho opcning of thc
account з20 tjвз
lleplonishmont from thc W[]'s account з60 000
Total бв0 5вз
cash outflow:
Convcrsion iп l,,lZS 640 000
Bank сhаrgсs 125
Total 640 1 25
Ваlапсе as of December 3'1 ,2022 40 45в
Signed for and on bohalf of It4anagemcnt on \4аrсh 25, ?-О?-З
Deputy С hief Accountant
Spocial Dcsignatcd Дссоuпt Statcmcnt to Ье read iп conlunction with Notes thereto forming an intcgral раrt of thc Рrоjссt
spccial financial statcmonts,
USD CONVERSlON ACCOUNT STATEMENT
for the period from January 1,2022 to June 15,2022
дссоuпt Ns 2262 6000 0054 0531 9002
[)tlpository [Запk: JSC[] "lпFiпt]апk "
дddrеss 1ВВ, Navoi str., Tashkent 100000, Uzbekistan
Credit: N960B3-tJZ
Сurrепсу: UZS
USD 000. Uzs
Balatlce as of Jalruary 1, 2022 7 225 7в 034
cash irrflow:
Conversion iп LJZS 545 000 6 053 730
Total 545 000 6 053 730
cash outflow:
[)aid to suppliers of goods and scrvices з47 444 3 в71 556
l-rапsfеr of the Ьаlапсе of funds due to the closing of
the account в в14 96 42,|
'Т'rапsfеr
to соrроrаtе plastic сагd 2 766 30 500
[)ауmепt of salaries and trачеl oxpenscs to plastic
cards ,150
145 1 656 993
Paymont of iпсоmе taxes zU |zo 222 432
Charges to Pcnsion Fund 196 2 161
social taxes 20 157 22з 176
Ohargcs to trade uniorl 1 954 2,1 516
[)аупlепt of alimonies and fоr education of the staff
against sаlаrу 62з 7 00з
Total 552 225 6 ,tз1 764
Balatlce as of June 15, 2022 (date of account
closing) 0
Signcd fоr and оп behalf of lt4anagcment оп Маrсh 25,2023
Sh.Rajametov
Project Manager
l.Zu Ьа rеча
Deputy Chief Ассоuп
[JSD Conversion Дссоuпt Statcmcnt to Ье rcad in conjunction with Notes thereto forming ап integral рагt of the Projcct spccial
financial statements.
USD CONVERSlON ACCOUNT STATEMENT
for the period from June 1 3, 2022 to December 31,2022
дссоuпt Np 202,1 0000 4054 0531 9014
Depository [3апk JSCB ,lNF|NвдNк
дddrеss 1ВВ, Navoi str., Tashkent, '1000В4, Uzbekistan
Credit N960B3-UZ
Сurrепсу UZS
USD 000. UZS
Ваlапсе as of June 13,2022 ( date of ассоuпt орепiпg) 0 0
cash irrflow:
Ilcccipt of proceeds from the center'S рrimаry accoUnt 4 024 43 904
'l
rапsfеr of the Ьаlапсс of funds due to the closing of the account в в14 96 42-7
conversion in uzs 640 000 7 05з 950
Total 652 8з8 7 194 2в1
cash outflow
t)аid to suppliers of goods and sсгчiсеs з55 099 3920211
'l'rапsfсr to соrроrаtо pIastic
card з 74з 41 100
[)ауmепt of salarics апd travcl expcnses to plastic cards 220 бв9 2 426 412
Г)ауrпепу of incomc tax 30 032 з29 49в
Chargcs to Pension []und 217 2 з79
social taxcs 26 059 2в5 117
Рауmепt of alimonies апd fоr education of the staff against salary l IoZ 1з 022
Сhаrgеs to trade union 2 110 Z.1 l J.]
Total 639 1,1,t 7 040 в72
Balatrce as of December 31 ,2022 13 727 1 53 409
Signcd for and оп bchalf of Managcment оп [\,4аrсh 25,202З
Sh.Rajametov
Project Мап
l.Zubareva
Deputy Chief Асс
LJSD Conversion Дссоuпt Statcment to Ье rcad in conjunction with Notes thereto forming ап integral рагt of thc Рrоjесt spccia{
financial statements.
TENDER ACCOUNT STATEMENT
for the period from January 1,2022 to June15, 2022
дссоuпt Ng 22626000 1054 05з1 9003
Depository Bank JSCB "lпFiпВапk "
дddrеss 18В, Navoi str,, Tashkent,1000В4, Uzbekistan
Сrеdit Nq6OВЗ-UZ
Сuгrепсу tJZS
UsD 000.UZS
Cash Ьаlапсе as of January 1,2022 257 2 725
cash inflow:
Total 0 0
cash outflow:
'Т'rапsfсr одЕ
of balanccl to thc,, Сепtеr's рrimаry acoount 2 725
[:xchange rаtе diffc;rcnce 12
Total 257 2 725
Cash Ьаlапсе as of June 1 5 2022 (date of ассоuпt closing)
0 0
Signed fоr and оп bchalf of Management оп Маrсh 25,2023
2*16$rM у|
Sh.Rajametov {s)j.rf*t[.
Project Мапа
$ъ\
\о4
lиcJ
|т},
/ь:
|й с",
ý_ý /
l.Zubareva
Deputy Chief Асс
Тепdеr Account Statement to Ье rеаd iп conjunction with Notes thereto forming an integral раrt of the Рrоjесt special
financial statements.
_
UZS PLAST|C CARD ACCOUNT STATEMENT
for the period from January 1,2022 to December 31,2022
дссоuпt Ns 2262 0000 в054 0531 9006
Depository Bank: JSCB "lnFinBank "
дddrеss 1ВВ, Navoi stг., Tashkent, 1000В4, [Jzbekistan
Credit: No 60ВЗ-UZ
Сurгепсу: UZS
UsD 000 UzS
Balance as of January 1,2022 45 4в1
cash inflow:
тгапsfеrrеd fгоm uzs дссоuпt 1 401 15 400
Total 1 401 15 400
cash outflow
Paid to suppliers of goods and services 1
аоа 15 з50
Total 1 398 15 350
Balance as of December 31 ,2022 48 53,1
Signed fоr and оп behalf of Management on lt4arch 25, 202З
Sh.Rajametov
Project Ма
l.Zubareva
Deputy Chief Accountant
UZS Plastic Card Дt;соuпt Statement to Ье rеаd in conjunction with Notes thеrеtо fогmiпg an iпtоqrаl part of the
Рrоjссt special financial statements.
UZS PLAST|C CARD ACCOUNT STATEMENT
for the period from Jапчаry 1,2022 to December 31,2022
дссоuпt Ns 2262 0000 2054 0531 9003
Depository Bank: JSCB "lпFiпВапk "
дddrеss 1ВВ, Navol str., Tashkent, 1000В4, uzbekistan
Сrеdit: No 60ВЗ-IJZ
Сurrепсу: UZS
USD 000 UZS
Ваlапсе as of January 1,2022 56 605
cash inflow:
тrапsfеrгеd frоm uzs Account 1 169 12 900
Total 1 169 12 900
cash outflow:
Paid to suppliers of g;oods and sеrчiсеs 1 172 12 909
Total 1 172 12 909
Ваlапсе as of DесеmЬеr 31 ,2022 53 596
Signed fоr and оп behalf of Manage ment оп Маrсh 25,2023
Sh,Rajametov
Project Мапаgеr
l.Zubareva
Deputy Chief Accou ntant
"UZS Plastic Сz:rd Дсссluпt Statemсэnt to Ье rеаd in conjunction with Notes thегеtо fоrmiпg an
iпtс;grаl рагt of the Рrоjесt special fiпапсiаl statements.
UZS PLAýT|C CARD ACCOUNT STATEMENT
for the period frоm January 1,2022 to December 31, 2022
дссоuпt Ns 2262 0000 0054 0531 9007
Depository Bank: JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent, 1000В4, LJzbekistan
Сrеdit. No 60B3-LJZ
Сurrепсу: LJZS
USD 000 UZS
Ваlапсе as of January 1,2022 7з 7вз
cash inflow:
-rrапsfеrrеd
frоm uzs дссоuпt 1 172 12 900
Total 1 172 12 900
cash outflow
Paid to supplicэrs of goods and services 1 151 12 бзв
Total 1 ,l51 12 63в
Balance as of December 31 ,2022 94 1 045
Signed fоr and on bchalf of lVапаgеmепt on [Vаrсh 25,2023
Sh.Rajametov
Project Managerffi
;lаяl
\?
]l0 Y',
;lФ Е
l.Zubareva
Deputy Chief Accountant
"L.jZS Plastic Саrd Дссоtlпt Statc:mr:nt to Ье rеаd iп сопjuпсtiоп with Notes thereto fогmiпg ап integ;ral рагt of
thc Projcct special financial statements.
l UZý PLASTIC CARD ACCOUNT STATEMENT
for the period from January 1,2022 to December 31,2022
дссоuпt Ns 2262 0000 4054 0531 9004
Depository Bank: JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent, 1000В4, Uzbekistan
Сrеdit. No 60B3-UZ
Сurrепсу: UZS
USD 000 UzS
Balance as of January 1,2022 49 523
Cash inf|ow:
тrапsfеrrеd frоm uzs дссоuпt 4 а1-7 14 600
Total 1 327 ,t4 600
cash outflow
Paid to suррliсrs of goods and sеrчiсеs 1 259 13 в17
Total ,l 259 ,lз в17
Ваlапсе as of DесеmЬеr 3'| ,2022 117 1 306
Signcd fог and оп Lэc:half of Management on Маrсh 25,202З
Sh.Raja
д, Project
Ё
Deputy Chief Accountant
UZS Plastic Card Дссоuпt Statement to Ьi: rеаd in сопjuпсtiоп with Notes thereto forming an iпtеgrаi раrt of thc:
Project special financial statements.
UZS PLAST|C CARD ACCOUNT STATEMENT
for the period from January 1,2022 to December 31,2022
Account Ns 2262 0000 6054 0531 9005
Dc;pository Bank: JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent, 1000В4, Uzbekistan
Credit: No 60B3-UZ
Сurrепсу: UZS
USD 000 UZS
,l5
Ваlапсе as of January 1,2022 159
cash inflow:
тrапsfеrrеd frоm uzs Account 1 439 15 в00
Total 1 439 15 в00
cash outflow
Paid to suррliеrs of goods апd sегчiсеs l JoZ 15153
Total 1 зв2 15 153
Balance as of DесеmЬеr 3'| ,2022 72 в06
Signed fог and on Ьеhalf of Мапаgеmепt оп IVаrсh 25,202З
Sh,Raja
Project
l,Zubareva W
Deputy Chief Accou
LJZS Plastic Саrd Account Statement to Ье rеаd in conjunction with Notes thеrеtо fоrmiпg ап integral р;;rt of thc;
Project special financial statements.
"Funds of the RUz-FVWRMP/lCB'1-2 Uzgidrotexnik" ACCOUNT STATEMENT
for the period from Jan ua ry 1 , 2022 to Decem Ь er 31 , 2022
Account Nq 2340 2000 з001 0000 1010
Separate account 100 010 в60 262 697 049 в01 170 025
Depository Вапk Тrс;аsury of the Ministry of Finance
Address LJzbekistan, 1 000В4 Tashkent,
Сrеdit No 60ВЗ-UZ
Сurrепсу UZS
USD 000 UzS
Ваlапсе as ofJanuary 1,2022 0 0
Cash inf|ow:
Rcplcnishment of funds 65в 947 7 262 971
Total 658 947 7 262971
cash outflow
Pa:id to Сопtгасtог Uzgidгоtс;хпik uпdеr сопtrасt
Ruz-FVWRl\4PllCB1-2 65в 947 7 262 971
Total 65в 947 7 262971
Ваlапсе as of DесеmЬеr 31 ,2022
Signed fоr and оп behalf of Management оп NЛаrсh 25,202З
Sh.Rajam
Project Man
Deputy Chief Accountant
"Funds of the RUz-FVWRI\ЛPllCB1-2 Uzgidrotexnik" ACCOUNT STATEMENT" to Ье геаd in сопjuпсliоп with
Notos thcreto forming an integral par1 of the Project specia| financial statements.
"Fчпdý of the RUz-FVWRMP/lCB2-3 O'zmaxsussuvqurilish" ACCOUNT STATEMENT
forthe period from January 1,2022 to December31,2022
дссоuпt Nq 2340 2000 з001 0000 1010
Sераrаtе account 1 00 01 0 в60 262 697 049 в01 170 027
Deposttory Bank Тrеаsurу of the Мlпistrу of Fiпапсе
Address Uzbekistan, 1 000В4 Tashkent,
Credit No 60B3-LJZ
Сurrспсу UZS
USD 000 UzS
Ваlапсе as of Janua ry 1, 2022
0
cash inflow:
Replenishment of funds зз0 зв9 з 65з зз9
Total 330 389 3 653 339
cash outflow:
Paid to Сопtrасtоr O'zmaxsussuvqurilish under
сопtrасt FVW RtM P/lC В2-3 330 зв9 з 653 зз9
Total 330 зв9 3 65з 339
Ваlапсе as of December 31 ,2022 0
Signed for and оп bohalf of lйапаgеmепt on Магсh 25,202З
Sh.Ra
Project
l,ZuЬаrеча
Deputy Chief Accountant
"[:unds of the ГlUz-FVWRlVP/lCB2-1] O'zmaxsussuvquгilish" ACCOUNT STATEMENT" to Ье rе::d iп
conjunction with Notes thereto fоrmiпg ап integral раrt of the Project speciaI financral staternents.
"Funds of the RUz-FVWRMP/lGB3-3 T'opalang" ACCOUNT STATEMENT
for the period from January 1,2022 to December 31,2022
AccoLlnt Ns 2з40 2000 з001 0000 1010
Sерz:rаtе account 100 010 в60 262 697 049 в01 170 026
Depository Bank Тrеаsurу of the N/iпistrу of Fiпапсе
дddrеss Uzbc;kistan, 1 000В4 Tashkent,
Credit No 60ВЗ-UZ
Сuгrепсу UZS
USD 000 UzS
Ваlапсе as of Janua ry 1, 2022 0 0
cash inflow:
Replenishment of funds 1 0вб 407 1 2 000 000
Total 1 0вб 407 12 000 000
cash outflow
Paid to сопtrасtоr Т'ораlапg uпdеr contract
,12
FVWRмр/lсв3-з 1 0вб 407 000 000
Total 1 0вб 407 12 000 000
Ваlапсе as of December З1 ,2022
Signed for and on bc:half of Мапаgеmепt оп N/lаrсh 25,202З
J'-'/
a"":{
Sh.Raj
Project
l,Zubareva
Deputy Chief
"Funds of the RUz-t-VWRlVP/|CB3-3 T'opalani;" ACCOUNT STATEI\4ENT to Ье rеаd in conjunction with Notos
thereto forming ;ln iпtеgrаl раrt of thc Рrоjесt special financial statements
Fеrgапа Valley Water Resources Management Phase-2 Project
EU GRANT No. ТFоА9В62
Summary of sources and uses of EU Grапt funds
for the period from January 01,2022 to December 31,2022
(Ечrо)
Actual
year to date cumulative to date
sources of funds
ЕU Grant funds 1 966 в07 3 326 в07
- EU Grапt Account 1 000 000 2 360 000
- [)irect pavments 966 в07 966 в07
Othcr 1 5,1в 1 51в
Total 1 968 325 3 32в 325
Project expenditureS
y'vorks,Goods,consultinq services and Traininq
Аqriсultuгаl intcnsification and d ivorsification 912 051 91 2 051
mproved Wаtеr l\z]anaqemcnt 7об 344 1 520 396
Эрсrаtiпq cost & PllJ Staff 540 501 694 261
Эthег 1 5,1в 1 51в
Total 2
,t
60 4,14 3 12в 227
Total proiect expenditure 2160 4,14 3 12в 227
xceSS of Receipts over Payments (192 088) 200 099
Opening Cash Ваlапсе
E[J funds аос 1в7 0
Total 392 1в7 0
Net availbale cash 200 099 200 099
Closing CashBalance
EtJ funds 200 099 200 099
Total 200 099 200 099
Exclrange rate difference
Signod fоr and оп bchalf of Managemont оп Маrсh 25,20?_З
l.Zu bareva
DopUty Chief Ассочпtапt
" Summаrу of sourccs and uses of El.J Grапt funds" scparately to Ьс rеаd iп conjunction with Notes thercto forming ап intcgral
раrt of the Pro.jOct spi:cial financial Statcments.
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Government of Republic of Uzbekistan
Fergana Vаllеу Water Resources Management Phase-2 Project
EU Grant ТFоА9862
Special Fiпапсiаl Statements
Summary Statement of Credited and Replenished Funds of the lDA Credit Spending Statement Рrосеdurе
for the period frоm January 01,2022 to DесеmЬеr 31,2022
(USD)
Total amount of expenditures under the expense sheet procedure ,l 531 640
lncluding, cxponditurcs of 2021 fоr request NsТt-04 (607 244)
Total expenditures: 924 396
Crcditcd 1 531 640
lncluding, fоr roquest NqТ'Г:04' (607 244)
Total refunded and credited 924 396
variation 0
- l-he
аmочпt о/ cxpcllsos ttlcttrred tп October -Dccember З1, 2021 (WA No. ТF04)
Signcd for and оп bohalf of IИапаgсmспt оп Маrсh 25, ?-О?-З
Sh.Rajametov
Projoct Мапаgеr
l,Zubareva
Deputy Chief Accountant
Summаrу Stateпlcnt of Crcdited and llcplcnishod t:unds of the lDA Crcclit Spending Statement Рrоссdurе" to Ьс rсаd in
conjunction with Notcs thorcto forming an iпtсgrаl рагt of the Project special financial statcmonts.
Fi
Fergana Vаllеу Water Resources Management Phase-2 Project
GRANT No. ТFоА9862
Special Financial Statements
Schedule of direct payments
forthe period from January 01,2022 to DесеmЬеr 31,2022
(USD)
Amoutrt in
WA No. Category Рауmепt счrrепсу Euro
Wоrks, Goods, Consultinq services, Non- Consulting Services, Тrаiпiпg and
тF05 USD 41з 295,00 з74 124
Дdditiопаl Operating Cost
Wоrks, Goods, Consulting scrvices, Non- Consulting Serviccs, I'raining and
тF07 USD 27 500,00 27 з9з
Additional Opcratinc Cost
Works, Goods, Consulting services, Non- Consulting Services, Training and
тFOв USD 551 106,00 537 927
Additional Operating Cost
Works, Goods, Consulting serviccs, Nоп- Consulting Serviccs, Т'rаiпiпg апd
тF,11
Дdditiопаl Ореrаtiпg Cost
tjSD 27 500,00 27 з63
Total 966 в07
Signed for and on behalf of Managemcnt оп Маrсh 25,202З
Sh.Rajametov,
Project Manager
l.Zubareva
Deputy Chief Accountant
[)irc:ct [)aymcnts Schedulc - lDД Credit to Ьс rсаd in conjunction with Notes thеrсtо forming an integral раrt of thc Г)rоjесt spoc:iai
financial statcmcnts,
Fеrgапа Valley Water Resources Management Phase-2 Project
GRANT No. ТFоА9862
Project special purpose financial repoЁing
SPEC|AL PURPoSE BALANGE SHEET AS оF DEGEMBER 31,2022
(EURo)
Notes 31.12.2022 31.12,2021
ASSETS
Cash and cash equivalents 200 099 392 187
Property, Plant and Equipment 0
Proiect expenditure:
GRдNТ Fuпds 3 126 709 967 вlз
NЛisсеllапс;оus expcnses 1 51в
Total expenditures 3 128 227 967 в,13
Gi:in (Loss) frоm fоrсiqп c;xchan<]<.. diffcrcnccs
TOTAL ASSETS 3 328 326 1 360 000
ACCUMULATED FUNDS
Project financing:
GRАN'Г Funds з з26 в07 1 з60 000
оthсr cash inflow 1 51в
Total financinq 3 328 326 1 з60 000
Rcvaluation of the Рrореrtч, Plant and Equipment
TOTAL ACCUДlULATED FUN DS
3 3_28 з26 1 .36.0 000
Signe d fоr and оп behaIf clf Nz]anc lИаrсh 25, 2023
i/11 'Ь"цдLАRlIg7
э"-оу:ж
Sh.Rajametov
Project Мапаgеr
l.Zubareva ии7-
Deputy Chief Accountant
Spccial Purpose Balance Shect to Ье rеаd in conjunctiorl with Notes thereto fоrmiпg ап integraI раrt of the Project
special finanoial statements.
EU GRANT ACCOUNT STATEMENT
for the period frоm June 15, 2022 to December 31,2022
дссоuпt Ns 2021 097в 7054 0531 9002
Depositary [Jank JSCt] "Ml lCRoctiEDlTI]ANK"
дddrсss 14 t_utfi street, Tashken, Uzbekistan
Туре of account Grапt
Grant No l'Г-OА9В62
Сurrеncy Еurо
EUR
Ваlапсе as of June 15,2022 (date of account opening)
0
cash inflow:
'I'rапsfсr
of thc: Ьаlапсt., of funds whon орепiпg ап accotlnt 703 5в9
total 703 5в9
cash outflow:
Conversion iп LJZS 505 000
Total 505 000
Ваlапсе as of December 31,2022 19в 5в9
Signi:d fоr and оп bchalf of on IVаrоh 25,202З
Sh.Rajametov
Project Manager
bareva
|.Zu
gИ,,
Deputy Chief Accountant
EU Grапt дссоuпt Statcment to Ьс гсаd in conjunction with Notes thereto forming ап iпtеgrаl раrt of the Projcct special
financial statcments,
EU GRANT ACCOUNT STATEMENT
for the period from January 1,2022 to DесеmЬеr 31,2022
дссоuпt N9 2262 697в ,]054 0531 9001
Dopositary Вапk jSCB "мlсRосt]ЕDl"гtsдNк"
Addrcss 14, Lutfi street, l'ashken, Uzbekistan
1'урс of account Grапt
Grапt No ТFOд9В62
Сurrепсу Еurо
EUR
Ваlапсе as ofJanuary 1,2022 33в 776
cash inflow:
[leplenishmcnt frоm tho WB's account 1 000 000
Total ,l
000 000
cash outflow:
convcrsion in uzs 635 000
'I'rапsfсr
of the Ьаlапсо of funds whcn closing an account 70з 5в9
[Запk Сhаrgсs 1в7
Total 1 33в 776
Balance as of June 15,2022 (date of account closing) 0
siqn<ld fоr and on bt:half of 25,202з
Sh.Rajametov
Project Manager
l.Zubarcva
Deputy Chief Accountant
"[:U Grant дссоuпt Statc.,ment" to Ьс rоаd iп conjunction with Notes thereto fоrmiпg ап integral
раrt of thc Project spccial
financial statcments,
EU GRANT ACCOUNT SТАТЕNlЁNТ
for the period from January 1, 2022 lo December 31, 2022
дссоuпt N9 2021 0в40 6054 0531 9002
L)epositary [Запk JSсtз "MlcRocREDlTBдNK"
дdd ress 'T'ashken,
14, Lutfi strcet, Uzbekistan
'Т'урс
of ассоuпt Grant
Grапt No ТF0д9В62
Сurrепсу USt)
UsD EUR 000 UzS
Ваlапсо as of January 1, 2022
0 0 0
cash inflow:
Сопчеrsiоп in US[) 1 00 000 89 4в2 1 0вв 500
Total 1 00 000 в9 4в2 1 088 500
cash outflow:
[)aylncnt of goods and sct viccs ,100
000 в9 4в2 1 0вв 500
Total 1 00 000 89 482 ,1
088 500
Ваlапсе as of Decomber 31,2022
0 0
Signed fоr and оп 25,2023
Sh.Rajametov
Project Manager
l.Zuba reva
Deputy Chief Accountant
"El.J Grапt дссоuпt statome nt" to Ье read in conjunction with Notcs thereto forming ап integral раrt of the project spccial financial
state mcnts.
Grапt Funds Сопчеrsiоп Account statement
for the period from June 15,2022 to DесеmЬеr 31,2022
дссоuпt Ns 2021 097в 7054 053,1 9002
Dороsitоrу [3ank; JSCB "MICRoCREDlTBдNK"
дddrсss 14, Lutfi street, Tashken, Uzbekistan
Гурс of account Grant
Grапt: No ТFOА9В62
Сurrспсу: EURo/UZS
EUR 000 UZS
Ваlапсе as of June 15,2022 (date of account opening) 0 0
cash inflow:
convcrsion iп uzs 505 000 5 5в4 010
Тrапsfсr of the balance of funds whcn opening the account 1,11в00 1 305 в-]9
,16
othcr funds 1 51в з0 /
Total 61в 31в 6 906 136
cash outflow:
[)aymcnl of goods and scrviccs 373 545 4 1вв з19
Payment of sаlаrу and public utilitics cxpcnses to саrd 1в4 077 2 044 64в
[Запk chargos 111в 12 з49
[)aymcnt of incomc tax 25 174 27в 26в
Chargcs to Pension Fund 200 2 2о5
T'axcs for social сhаrgсs 31 920 353 794
Chargtes to trаdс union 775 в 619
Total 616 в09 6 ввв 202
Ваlапсе as of Decemb er 31 , 2Q22 1 509 17 934
Signed fоr апd оп bchalf of l\,4anagcment оп [t4аrсh 25,2023
Sh.Rajametov
Project Manager
l.Zu Ьа reva
Deputy Chief Accountant
Grant Funds Сопчсrsiоп Account Statcrncnt to Ьс rсаd in conjunction with Notes thcre to fоrmiпg an iпtсgrаl part of thcl [)rojc:ct
spccial financial statements,
Grant Funds conversion Account statement
for the period from January 1,2022 to June 15,2022
дссоuпt Ns 2262 6000 9054 0531 9001
Dcpository [3ank: JSCB "MlCttocREDll BANK"
дddrеss ]4, Lutfi street, Tashken, Uzbekistan
Туре of account Grant
Grапt: No ТFоА9В62
Сurrепсу: UZS
EUR 000 UzS
Ваlапсе as ofJanuary 1,2022 53 411 647 33в
cash inflow:
Sсrчiсе рrочidсr rc:fund 40 4вб
conversion in uzs 635 000 7 619 250
Total 635 040 7 6,19 7зб
cash outflow:
Payment of goods and services зв9 вв1 4 69/ 905
[)aymcnt of staff loans 545 6 5в0
Paymcnt of sаlаrу and public utilitics oxpcnsos to саrd 75 751 914 414
[3ank charges ,11
1 в00 1 305 в19
[)ауmспt of income tax 10 ,1 13 122 2s0
[)eductions fоr Pcnsion [:und в5 1 02,/
']'axcs
fоr social chargcs 10 121 122 з69
Ohargtes to trado union 67з в 170
'гrапsfеr
of funds fоr сопчсrsiоп into LJs dollars в9 4в2 1 0вв 50о
Total 688 451 8 267 074
Ваlапсе as of June 15,2022 (date of account closing) 0
Signcd fог and оп bchalf of l\rlanagcmont оп Маrсh 25,202З
Sh.Rajametov
Project Мапаgеr
l.Zubareva
Deputy Chief Accountant
(]rапt []unds Сопчсrsiоп дссоuпt Statcmcnt to Ьс read iп conjunction with Notes thсrе to forming an iпtеgrаl
раrt of thc Prolcct
spccial financial statemcnts.
FERGANA VALLEY WATER RESOURCES MANAGEMENT PROJECT. PHASE 2
lDA CREDlT No.6083-UZ/EU Grant No. ТFоА9862
Nаrrаtiче note to the Project Financial Statements
as of 3'1't DесеmЬеr 2022 апd overall period оп the date
1. Project background
The Government of the Republic of Uzbekistan has received financing frоm lnternational Development
Association (hеrеiпаftеr - lDA) toward the cost of Fегgапа Valley Wаtеr Rеsочrсеs Management Project.
Phase-2.
The financino was allocated in accordance with:
. Аgrееmепt between the Republic of Uzbekistan and lDA (lDA Credit No.6083-UZ) signed оп
Тhлр Fiпапсiпg
2O'"September 201 7. The project Effectiveness Day is 29tn Decemb еr 2О17 . The project Closing Date is 31't
August 2024.
о between the Republic of uzbekistan and lпtегпаtiопаl Development Association (hеrеiпаftег lDA) acting as
the administrator of the Рrоgrаm Тrчst Fund of опе dопоr of the Ечrореап Commission-World Bank
Раrtпеrshiр Ргоgrаm, the Grant Аgrееmепt of the Ечrореап Union (hеrеiпаftеr the EU Grапt) - EU Grапt
No.TFOA9862 dated 13tП Арril 2019. The Closing date is 28th FеЬrчаrу 2О24,
According to the Presidential Decree dated ,16th September 2017 No.PP-3282 "Оп Measures fоr lmplementation
of the WB-supported Fеrgапа Valley Wаtеr Resources Management Project. Phase-2", the Ministry of Water
Resources of the Republic of Uzbekistan (hereinafter - MWR) is the Executing Agency геsропsiЬlе fоr the
Project implementation, targeted and efficient use of the Credit proceeds, and fоr achieving of all Project target
indicators.
The main obiectives of the proiect аrе:
(i) Rehabilitation of irrigаtiоп systems;
(ii) lmрrоvеmепt of water rеsоurсеs management рrасtiсе iп the Рrоjесt аrеа оп а sound and financially
efficient basis.
The main objectives of the Project аrе expected to Ье achieved through implementation of the following
components:
The total project cost is $US 228.21 million, including $US 83.3 million as а contribution of the GOU, including
$USз6.9 milliоп as the exemptions from tax and customs duties. The Сrеdit рriпсiраl and interests аrе repaid Ьу
the Ministry of Fiпапсе of the Republic of uzbekistan (моF) frоm the budget. Fоr additional financing of the
Project, the EU Grant was attracted in the amount of g.950 million Ечrо.
The proiect financino рlап is shown below:
Sources of financing USD Euro
lDA credit 144 900 000
Gou сопtriьчtiоп 83 314 780
EU Grапt 9 950 000
Total 228 214 78о 9 950 000
The lDA credit is expected to cover the following cost items:
Percentage of
Category lDA Credit (USD) expenditures to Ье
,fi1t"1nggd (О/ф
Works, Goods, Non-Consulting services, Consulting services, Traininý
144 900 000 'l000/o
з,п_{ Аd"ý i!!9п а"| О_р""9 1;а
!iо_п а | С_о 9!9 "
Total 144 900 000
The GOU contribution is expected to сочеr the following cost items:
Ёёiсёпiigё-ёf
Category share (USD) jexpenditures to Ье
financed
civilworks 26 305 500
Miscellaneous costs 1 800 000
100%
Fiпапсiаl charges dчriпg investment period ]8 243 830
тах and customs benefits 36 965 450
Total 83 iilrа0
The EU Grапt is expected to сочеr the following cost items:
Percentage of
Category EU Grant
(Ечrо) expenditures to Ье
li"п"зпgяd" ("/"")
Works, Goods, Non-Consulting services, Consulting services, Тrаiпiпg
and Addi!!onal О_реrаtiопаl Costs 9 950 000 100%
Total 9 950 000
2. Accounting policy
The Project Special Financial Statements have Ьееп рrераrеd in ассоrdапсе with the lnternational РчЬliс
Sector Accounting Standards (hеrеiпаftеr - lPSAS) issued Ьу the lnternational Accounting Standards Board in
pub|ic sесtоr of the lпtеrпаtiопаl Fеdеrаtiоп of Accountants, based on the cash method and relevant
rесоmmепdаtiопs of the world Вапk.
2.1, Fiпапсiпg
FiПапсiпg of the Рюjесt is recognized when payments to the suppliers of tangible (i.e. "mаtеriаl") rеsочrсеs оr
fоr services аrе made Ьу lDA (procedures: "Direct Payment", "WB Special Commitment").
FiПаПсiпg on the Рюjесt Designated and Grant Accounts is rесоgпizеd when the proceeds аrе trапsfеrrеd frоm
lDA Credit account and EU Grant account administered Ьу lDA to the Project Designated and Grапt Accounts
using the advance method.
Financing оп the GOU contribution is recognized when the proceeds аrе tгапsfеrrеd from the accounts of the
Ministry of Fiпапсе of the Republic of Uzbekistan to the Budget Account established at the Тrеаsчrу office of
the Ministry of Fiпапсе of the Republic of Uzbekistan,
2.2. Expenditures
The Project expenditures аrе recognized and rероrtеd in the Fiпапсiа| Statements рrераrеd оп the cash basis
when:
account ("Direct Payment", 'WB Special Commitment" рrосеdчrеs) оr frbm the Designated, Grапt and
other Accounts of the Project;
bank interests frоm the Designated, Grапt апd other Accounts of the Project.
2.3. Currency of Fiпапсiаl Sfafemenfs апd Fоrеigп Ехсhапgе Poticy
Сurrепсiеs of the Pýect Fiпапсiаl Statements аrе United States Dоllаr (USD) for the Credit рrосееds, and
Ечrо for the Grапt рrосееds.
lп рrераrаtiоп of the Project Fiпапсiаl Statements the following fоrеigп exchange policy was applied:
States Dollars at the exchange rate effective оп the date of replenishment оr раrtiсчlаr expenditures;
effective оп the date of USD conversion into UZS;
converted into the united states Dollars at the rate of the lnternational fоrех trade effective оп the date
of transaction.
date of Ечrо conversion into uzs.
I The Ьа|апсе оп the Project accounts аrе rечаlчеd at the last exchange rаtе effective as of the rерогtiпg date.
3. Project Financial Statements Submitted оп IDA-Financed Expenditures (Credit-6083-UZ)
Ег
Project Fiпапсiаl Statements for the героrtiпg period have Ьееп рrераrеd iп ассоrdапсе with the WB's
Guidelines "Reports оп Fiпапсiаl Мопitоriпg of Projects Fiпапсеd Ьу the World Bank" and include as follows:
- 3.1. Fiпапсiаl sfafemenf ол sources and иsеs of funds showing the World Вапk апd counterpart
fuпds separately
Duriпg the rероrtiпg реriоd, the Pюject expenditures have Ьееп financed using the funds of lDA, GoU and
other financing sources.
The total lDA financing amount is $US 6,930,562.
- The total GOU financing amount is $US 2,О75,743,
Also, the Project received оthеr proceeds iп the amount of $US 4,024 lor payment of bonus to the project staff
using the Сепtеr's рrimаrу account.
During the rероrtiпg реriоd, the Project total financing amount was $US 9,0'l0,329.
- Financing and expenditures related to рrераrаtiоп of the bidding documents and miscellaneous costs аrе
included in the Fiпапсiаl Statement оп Sources and Uses of Funds Showing the World Bank and Сочпtеrраrt
Funds Separately, but they wеrе not reflected in the Detailed Statement of Expenditures as these аrе поt direct
_ Project sочrсеs/ expenditures.
During the rероrtiпg реriоd, cumulative total Project expenditures аrе $US 9,829,051 including:
3.2. Detailed Sfafemenf of Expenditures Ьу project соmропелfs and sчЬсоrпролепfs
, This Statement details:(i) expenditures iп the rероrtiпg period with а breakdown Ьу the Project components and
subcomponents, (ii) Project budget in the reporting реriоd and (iii) deviation of actual expenditures against the
scheduled ones. Fоr the rероrtiпg period, the Рюjесt budget WaS рrераrеd according to the schedule Ъf Project
Е activities and PlU ореrаtiпg costs approved Ьу the Мiпistгу of Wаtеr Rеsочrсеs (MWR) of Uzbekistan.
This Statement includes the information оп expenditures only directly related to the Project, Expenditures fоr
pension, рrераrаtiоп of the bidding documents and miscellaneous costs wеrе not included.
ч
3.3. USD Desigлated Ассоuпt апd lDД Proceeds Сопуеrsiоп Дссоuпt
FОr fiПапСiпg of eligible lDA expenditures (Credit-6O83-UZ), the following Project accounts wеrе established at
- OPERU "lNF|NBANK' JSC: Designated Account (DA) in USD and account for сопчеrsiоп of the lDД proceeds
into UZS.
l
l
l_
usD Designated ассочпt is used for сопчеrsiоп of usD into uzs or any other счrrепсу as specified in the
signed contracts, and to сочеr the iпtегпаtiопаl trачеl expenditures, payment to supplieis of the goods and
services, fees fоr the individual international consultants.
l
l
- Ассоuпt for usD conversion frоm the lDA Designated account into uzs is used for payment to the national
suppliers in ассоrdапсе with the ехрепditчrе сайgоriеs, payment for the pýect staff's salaries and individual
national consultants, payment of taxes withheld at the source of payment,
Г -' "' -' local trачеl expenditures and bank
_ interests.
|п ассоrdапсе with the Presidential Decree No. '14'| "оп Measures fоr lmproved Settlement System and
Payment Discipline of Business Entities" of Мау 25,2022 (No, UP-141), bank accounts lype"2262i3" (Special
Ё 1"_T!I!.!S)
wеrе closed and the balance amount was transferred to the newly established Ьапk ассочпts type
"20210" (Demand deposit accounts).
3.4. Other accounts
- The Project maintains five соrроrаtе UZS plastic саrds of oPERU ,|NFINBдNK JSC for payment of local travel
expenditures and fuel costs.
Е 3,5. GOU accounts
UZS accounts established at the Тrеаsчrу office of the Мiпistrу of Fiпапсе of Uzbekistan аrе used fоr GOU
fiпапсiпg of the following contracts: FVWRMP/ICB1-2 <Uzgidrotexnik>, FVWRMp/lcB2-3
-
3.6. SOE withdrawal schedute - lDд Credit
'* This Statement includes the informatio.n оп expenditures categories used from lDA Сrеdit account according to
the SOE fоr the уеаr ended оп 3'1'' DесеmЬеr 2022, The SOE detail the expenditures from the Project
Designated account and submitted to lDA for replenishment during the reporting period.
3,7. Rесопсiliаtiоп statementfor replenisfied апd recovered SOE dbbursements - lDД Credit
Reconciliation statement fоr replenished and rесочеrеd SOE disbursements reflects the information оп total
_ expenditures under SOE рrосеdurеs indicting amounts replenished from deposit.
3.8. Direct рауmелfs sсhеdчlе - lDД Credit
This Statement shows the proceeds_.by categories withdrawn from lDA Credit Ассочпt чпdеr the Direct Payment
рrосеdчrе for the уеаr ended on 3,1't бесеmЪеr 2022.
3.9. Specfal Ьаlапсе sfieef
l The submitted Special Ваlапсе Sheet was compiled using the cash method in USD and contains the
information оп the Project рrосееds:
documents) and rе-чаlчеd fixed assets purchased чпdеr the Project.
- The indicator "CaSh" includes the cash Ьаlапсе оп all Pýect accounts as of the end of the rерогtiпg period.
The indicator "Fixed assets" includes fixed assets purchased under the Рrоjесt at fаir (re-valued) cost as of the
, end of rерогtiпg period. Fоr the рчrроsеs of this financial statement, Fixed assets аrе not depreciated.
The indicator "project expenditures" includes total expenditures related to the project implementation and
iпсчrrеd frоm all financing sources.
l
The iпdiсаtоr "Revaluation of fixed assets" includes amount of fixed assets revaluation as of January 1 (rеfеr to
Note No.6). As 9f ,1s Jапuаrу 2о22, the fixed assets wеrе not revaluated iп accordance witЁ рЁчаiliпg
ц legis|ation of the Republic of Uzbekistan.
4. Financial Statements Submitted оп ЕU Grant (Grant TFoA9862-Uz)
project Fiпапсiаl statements fоr the rероrtiпg period have been
рrераrеd in ассоrdапсе with the wB's
Guidelines "Reports оп Fiпапсiаl Мопitоriпg of projects Financed Ьу thb wоrld Bank" and include as follows:
Ё 4.1. Fiпапсiаl Sfafemenf оп Sources and Use of Ell Grant Proceeds
Duriпg the reporting period, the Рюjесt expenditures using Eu Grапt funds have Ьееп financed iп Ечrо.
The total financing amount iп 2о22 was 't,968,326 Ечrо. lDA financing amount was '1,966,807 Ечrо. дlsо,
- miscellaneous proceeds wеrе rесеiчеd iп the amount of '1,518 Ечrо fог payment of bonus for the Project staff
using the Center's рrimаrу account.
Duriпg the reporting period, the totalexpenditures amounted to 2,16О,414 Ечrо.
_
4.2. Detailed Sfafemenf of use of fuпds Ьу Project соmропепts апd suЬсоmропепfs
This Statement details:(i) expenditures iп the reporting реriоd with а breakdown Ьу the Project соmропепts and
Е subcomponents, (ii) Project budget for the reporting period and (iii) deviation of actual expenditures against the
scheduled ones. Fоr the rероrtiпg period, the project budget was prepared according to the Рrосчrеmепt Рlап
and PlU operating costs approved Ьу the Ministry of Water Resources (MWR) of Uzbekistan.
Ц
This Statement includes the information оп expenditures опlу directly related to the component financed Ьу EU
Grant,
F
4.3. EU Grant дссоuпt iп Euro апd Grапt Fчпds Сопvеrsiоп дссоuпt
The Project established the fotlowing accounts at "Mikrokredit Вапk" fоr financing of eligible expenditures using
EU Grапt (GrапtТFоА9862): EU Grапt Account iп Еurо, and account for conversion of EU Grant funds into
UZS. After establishment of Center, the proceeds from the accounts of the PlU WB have been trапsfеrrеd to the
following newly established accounts at "Mikrokreditbank": EU Grant Account in Ечrо, and account fоr
сопчеrsiоп of Eu Grant funds into uzs.
lnaccordancewiththePresidential DесrееNо. UP-141 of Мау25,2022, bankaccountstype'22626" (Special
accounts) wеrе closed and the Ьаlапсе amount was trапsfеrrеd to the newly established bank accounts type
"20210" (Demand deposit accounts): EU Grant Account iп Ечrо, and account fоr сопчеrsiоп of EU Grant funds
into UZS.
4.4. SOE withdrawal schedule - EU Grапt
This Statement includes the information оп expenditures саtеgоriеs used frоm EU Grапt account ассоrdiпg to
the SOE for the уеаr ended оп 3'1't December 2О22. The SOE detail the expenditures frоm the Рrо]есt
Designated account and submitted to lDA for replenishment dчriпg the rероrtiпg period.
4.5. Reconciliation sfafernent for replenished апd recovered SOE disburseme пts - EIl Grапt
Reconciliation statement fоr replenished and recovered soE disbursements геflесts the information on total
exPenditures uпdеr SOE рrосеdчrеs indicting amounts replenished frоm deposit.
4.6. Specia/ Ьаlапсе sheef
The submitted special Ваlапсе sheet was compiled using the cash method iп Ечrо and contains the
information оп the Project рrосееds:
The indicator "cash" includes the cash balance оп the Eu Grant account and Grапt Funds Сопчеrsiоп Ассочпt
as of the end of the героrtiпg period and intended fоr eligible expenditures.
The indicator "project expenditures" includes expenditures related to the project implementation and iпсчrrеd
frоm the EU Grапt funds.
5. Legal Status, Taxes and Duties
The plu is а legal entity acting оп the basis of the statute registered Ьу the Resolution of the khokim of
Shaykhantahuг District of Tashkent city No.564 dated 21't Мау 20б1
According to the Presidential Dесrее No.PP-2506 dated 1Oth March 2О1б апd the МдWR's огdеr No.52 dated
]3", Маrсh 2016, the PlU's Statute has Ьееп revised and then approved Ьу the MAWR's оrdеr No.93 dated
31"'Мау 2016 апd.rеgistеrеd Ьу the Resolution of the Khokim of Shaykhantahur District of Tashkent city No.R-
09-о169'1 dated 1Oth June 2о16.
lп ассоrdапсе with the Presidential Decree No.UP-5134 dated O4th August 2017 "оп Measures for Fundamental
lmprovements of Activities of the Мiпistrу of Agriculture and water Resources of the Republic of uzbekistan'',
the Presidential Resolution No.PP-3'l72 dated 04tn August 2017 "оп Measures for Fчrihеr lmprovements of
Activities of the Ministry of Agriculture and wаtеr Resources of the Republic of uzbekistan" the Gепtrе's statute
has Ьееп revised and approved Ьу the MAWR's оrdеr No.249 dated 06th SерtеmЬеr 2017, and registered Ьу
Resolution of the Khokim of Shaykhantahur District of Tashkent city No.09-0,tбgt oateO 15th DесеmЬёr 2О17,
According to the Presidential Dесrее No.UP-5418 dated 17th Дрril 2О18 and the Resolutions of the СоМ No.940
and No.241 dated 21't November 2018 and 22nd Маrсh 2О19, respectively, Бп ZO'i йаrсrr 2019 the Сепtrе fоr
Implementation of lnvestment Projects iп Agriculture and Wаtеr Resourcei Sесtоr was liquidated due to mеrgе
with the Rural Restructuring Agency апd establishment of the Agency fоr lmplementation of pюjects in the Field
of Agroindustry and Food security. The latter is а legal successor of the Rural Restructuring hgency апd the
сепtrе fоr lmplementation of lnvestment Рrоjесts iп Agriculture and wаtеr Resources sесtоr in-terms of their
rights, liabilities and сопtrасtчаl obligations.
Ассоrdiпg to the Presidential Decree No. РР-4486 dated gth October 2О'19 "оп Measures for Fчrthеr
lmрrоvеmепt of Wаtеr Manaqement System" and the Resolution of the Cabinet of Мiпistеrs of the Republic of
Uzbekistan No. 45 dated 29'n January 2020 "оп Establishment of the Agency for lmplementation of Wаtеr
]_ Sесtоr Pюjects uпdеr the Ministry of Wаtег Resources of the Republic or UzbeKistan", оп 12th FеЬrчаrу 2О20
the lmplementation unit of the world Bank's projects was established responsible fоr implementaiion of
Fеrghапа valley wаtеr Rеsочrсеs Management project - phase ll". The plu wB is а legal succeýsor of the
Agency fоr lmplementation of Pýects iп the Field of Agroindustry and Food Security iп teims of all rights and
obligations чпdеr the above Pýect.
ln ассоrdапсе with the Presidential Dесrее dated бth Арril 2021 No. РР-5055 "Оп mеаsurеs fоr Fчrthеr
lmprovement of Activities of the Ministry of Wаtеr Resources of the Republic of Uzbekistan", the structure of the
Сепtеr for lmplementation of Fоrеigп lnvestment Projects iп Water Sесtоr (the Сепtеr) was approved. The
Сепtеr is а legal Successor of the lmplementation Unit of the World Вапk Projects iп terms of the rights,
liabilities and contractual obligations.
АссоrdiПg to the Credit Аgrееmепt and EU Grant Agreement, lDA has allocated the funds fоr сочеriпg of ,100О/о
of taxes withheld at the source of payment (socia| contributions, income tax fоr Uzbek residents and поп-
residents, customs duties).
Ассоrdiпg to the Presidential Resolution No.PP-3282 dated ,16th September 2О17 "оп Measures for
lmplementation of Fеrghапа Valley Water Resources Management Project - Phase ll", during the project
im plementation реriоd:
exempted from,customs payments (except fоr customs duties), value added tax, as well as mайdаtоrу
payments and fees to state trust funds;
payment of iпсоmе tax.
The amount released as а result of the above exemptions is the contribution of the Republic of uzbekistan to
the implementation of the Project.
6. Fixed assets purchased under lDA Credit (Credit-6083-UZ)
Fixed assets when purchased оr received for the efficient implementation of the pюject аrе accounted iп the
cost items. Fоr the purposes of this financial statement, fixed assets аrе not depreciaied and accounted at the
fair (re-valued) cost.
The project fixed assets include fixed assets purchased fоr operating needs. control of the safety of used fixed
assets is carried out ЬУ аппчаl inventory. The last inventory was саrrЬd out on 1't Decembe r 2О22.
The fixed assets movement iп the rероrtiпg period is shown in table below:
united sfafes Dollars
ва]апсе as of Balance as of
lncreased Revalued Decreased
01,01,2022 31.12.2022
Vehicles 59 059 0 0 0 59 059
Соmрutеr equipment 9 744 0 0 0 9 744
Total 68 80з 0 0 0 68 803
7. Reconciliation of lDA funds disbursement (Credit-6083-UZ)
As of 31't DесеmЬеr 2О22, по deviations аrе found in reconciliation of the C|ient Connection payments with the
PlU project financial statement data:
Sfafes
сliепt Соппесtiоп Сепtеr Deviations
j lDA 49 875 581 49 875 581 0
8. Reconciliation of EU Grant funds disbursement (Grant тF oA9862-Uz)
As of 31't Dесеmьеr 2о22, по deviations аrе found in rесопсiliаtiоп of the client Соппесtiоп payments with the
PlU project financial statement data:
Еurо
lDA