DELOITTE i Deloitte. VIETNAM Making an impact since 1991 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT Financing Agreement No. 5749-VN AUDITED FINANCIAL STATEMENTS INDEPENDENT AUDITORS' REPORT S AND MANAGEMENT LETTER For the year ended 31 December 2020 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT Financing Agreement No. 5749-VN TABLE OF CONTENTS CONTENTS PAGE(S) PART I FINANCIAL STATEMENTS Statement of the Central Project Management Unit 2-3 Independent Auditors Report 4-6 Balance Sheet 7 9 ,:; N:T Statement of Income and Expenditures 8 TNHH I-O MET NA] Statement of Sources and Uses of Funds Statement of Designated Accounts 10 - 12 "-- -DA Statement of Loan Withdrawals 13 - 19 Notes to the Financial Statements 20 - 29 PART II INDEPENDENT AUDITORS' ASSURANCE REPORT ON 30 - 31 INTERNAL CONTROL PART III INDEPENDENT AUDITORS' ASSURANCE REPORT ON COMPLIANCE Statement of the Central Project Management Unit on Compliance 32 Independent Auditors' Assurance Report on Compliance 33 - 34 PART IV MANAGEMENT LETTER 35 - 45 1 PART I FINANCIAL STATEMENTS VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT Financing Agreement No. 5749-VN STATEMENT OF THE CENTRAL PROJECT MANAGEMENT UNIT The Central Project Management Unit of Vietnam Dam Rehabilitation and Safety Improvement Project (the "CPMU") presents this report together with the financial statements of Vietnam Dam Rehabilitation and Safety Improvement Project (the "Project") for the year ended 31 December 2020. Central Project Management Unit The members of the Central Project Management Unit who held office during the year and to the date of this report are as follows: Mr. Pham Dinh Van Head of the Central Project Office Mr. Nguyen Canh Tinh Deputy Head of the Central Project Office cum Director of the Project Mr. Dang The Luong Chief Accountant - Head of Finance and Accounting Department Responsibilities of the Central Project Management Unit The CPMU is responsible for preparing the financial statements of the Project which comprise the Balance Sheet as at 31 December 2020, the Statement of Income and Expenditures, the Statement of Sources and Uses of Funds, the Statement of Designated Accounts, the Statement of Loan Withdrawals for the year then ended and the Notes to the financial statements, including a summary of significant accounting policies which give a true and fair view of the financial position of the Project and designated account balances as at 31 December 2020 as well as of the income and expenditures, the receipts and disbursements of the Project, designated account movements and fund withdrawals for the year then ended in accordance with the accounting convention and the accounting policies set out in Note 2 and Note 3 of the Notes to the financial statements and the covenants contained in Financing Agreement No. 5749-VN. In preparing these financial statements, the CPMU is required to: • Select suitable accounting policies and then apply them consistently; • Make judgments and estimates that are reasonable and prudent; • State whether applicable accounting principles have been followed, subject to any material departures disclosed and explained in the financial statements; • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Project will continue in operation; and • Design and maintain effective internal control over compliance with requirements that could have a direct and material financial effect on the financial statements, as well as over financial reporting for the purpose of properly preparing and presenting the financial statements so as to minimize errors and frauds; and take responsibility for its assertions as to the effectiveness of such internal control. The CPMU is responsible for ensuring that proper accounting records are kept, which disclose, with reasonable accuracy at any time, the financial position of the Project and that the financial statements comply with the accounting convention and the accounting policies set out in Note 2 and Note 3 of the Notes to the financial statements. The CPMU is responsible for ensuring that the funds have been used as intended for the Project and for complying with Financing Agreement No. 5749-VN as well as laws and regulations applicable to the Project. The CPMU is also responsible for safeguarding the assets of the Project and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities. VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT Financing Agreement No. 5749-VN STATEMENT OF THE CENTRAL PROJECT MANAGEMENT UNIT (Continued) The CPMU confirms that they have complied with the above require preparing these financial statements. on behalf of the CPMU, PHA BAN QUAN L 2! f RUNG liCIN DU AN THUY 1- • (CPO Nguyen Canh Tinh Deputy Head of the Central Project Office cum Director of the Project Hanoi, 30 November 2021 51. Tt Li 3 01. Deloitte Vietnam Co., Ltd *kiting, '''' DELOITTE 1-5th Floor, Vinaconex Tower, Delloitte se: VIETNAM 34 Lang Ha Street, Lang Ha Ward, Dong Da District, Hanoi, Vietnam Tel : +84 24 7105 0000 Making an impact since 1991 Fax: +84 24 6288 5678 www.deloitte.com/vn No.: NW /VN1A-1-IN-BC INDEPENDENT AUDITORS REPORT To: The Central Project Office (CPO) The Central Project Management Unit of Vietnam Dam Rehabilitation and Safety Improvement Project (CPMU) Opinion We have audited the financial statements of Vietnam Dam Rehabilitation and Safety Improvement Project (the "Project"), which comprise the Balance Sheet as at 31 December 2020, the Statement of Incomes and Expenditures, Statement of Sources and Uses of Funds, Statement of Designated Accounts, Statement of Loan Withdrawals- for -the -year then ended, and the Notes to—the financial- statementsTincluding a - summary of significant accounting policies. 25 In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Project and designated account balances as at 31 December 2020 as well as of the incomes and expenditures, the receipts and disbursements of the Project, designated account movements and fund withdrawals for the year iM then ended in accordance with the accounting convention and the accounting policies set out in Note 2 and Note 3 of the Notes to the financial statements. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Project in accordance with the ethical requirements that are relevant to our audit of the financial statements, 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. Accounting convention We draw attention to Note 2 and Note 3 of the Notes to the financial statements, which describes the accounting convention and the summary of the significant accounting policies. The financial statements are prepared in accordance with the accounting convention and the accounting policies set out in Note 2 and Note 3 of the Notes to the financial statements and the requirements of the World Bank. Emphasis of matter We draw attention to Note 12 of the Notes to the financial statements, the expenditures accumulated to 31 December 2020 included some expenditures belonging to Part 1 - Dam safety rehabilitation of the Project amounting to VND 6,455,901,992 incurred before the signing date of the Financing Agreement which have been financed by the counterpart fund (as at 31 December 2019: VND 6,455,901,992). Our opinion is not modified in respect of this matter. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities. DTTL (also referred to as "Deloitte Global") and each of its member firms and their affiliated entities are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. 4 N°1 DELOITTE Deloitte N ot VIETNAM Making an impact since 1991 INDEPENDENT AUDITORS REPORT (Continued) Responsibilities of CPMU and those charged with governance for the Financial Statements The CPMU is responsible for the preparation of the financial statements in accordance with the accounting convention and the accounting policies set out in Note 2 and Note 3 of the Notes to the financial statements, and for such internal control as management 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 CPMU is responsible for assessing the Project's ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the CPMU either intends to liquidate the Project, or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Project's financial reporting process. Auditors' 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 TY from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in TTE accordance with International Standards on Auditing (ISAs) will always detect a material misstatement when it AM exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 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. Conclude on the appropriateness of the CPMU's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Project's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' 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 auditors' report. However, future events or conditions may cause the Project to cease to continue as a going concern. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates, if any, and related disclosures made by the CPMU. 5 '''' \Imof-- DELOITTE Deloitte SO' VIETNAM Making an impact since 1991 INDEPENDENT AUDITORS REPORT (Continued) We communicate with those charged with governance and the CPMU 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. Tran Huy Cong Nguyen Tien Quoc Deputy General Director Auditor Audit Practising Registration Certificate Audit Practising Registration Certificate No. 0891-2018-001-1 No. 3008-2019-001-1 DELOITTE VIETNAM COMPANY LIMITED 30 November 2021 Hanoi, S.R. Vietnam 6 FINANCIAL STATEMENTS VIETNAM DAM REHABILITATION AND For the year ended SAFETY IMPROVEMENT PROJECT to 31 December 2020 Financing Agreement No. 5749-VN BALANCE SHEET As at 31 December 2020 Notes 31/12/2020 31/12/2019 VND VND ASSETS 455,209,835,642 772,522,236,440 I. Current assets 5 174,694,187,222 387,469,243,539 Cash Cash on hand 410,627,141 2,003,976,274 Cash in bank, State treasury 174,283,560,081 385,465,267,265 Accounts receivable 280,515,648,420 385,021,192,001 Prepayments to suppliers 6 278,766,773,843 384,006,992,001 Internal receivables 8 1,748,874,577 855,000,000 Other receivables 159,200,000 31,800,900 Other current assets Advances to employees 31,800,900 455,209,835,642 772,522,236,440 TOTAL ASSETS // RESOURCES 1 292,849,862,433 260,997,3 4,239 \` I. Liabilities Current liabilities 292,849,862,433 260,997,324,239 Trade payables 7 291,260,971,108 260,031,770,417 Taxes and amounts payable to the State 2,711,800 19,136,385 budget Payables to employees 393,635,754 183,427,786 Other payables 9 1,192,543,771 762,989,651 TOTAL RESOURCES 292,849,862,433 260,997,324,239 NET ASSETS 162,359,973,209 511,524,912,201 SURPLUS OF INCOME OVER 162,359,973,209 511,524,912,201 EXPENDITURES P Hq / BAN QUAN Lc/ z , NG liCiNG Z CAC AN Mil' (GPO) \-4 Doan Thu Thuy Dang The Luong Nguyen Canh Tinh Preparer Chief Accountant — Deputy Head of the Central Project Head of Finance and Office cum Director of the Project Accounting Department Hanoi, 30 November 2021 The accompanying notes are an integral part of these financial statements 7 VIETNAM DAM REHABILITATION AND FINANCIAL STATEMENTS SAFETY IMPROVEMENT PROJECT For the year ended Financing Agreement No. 5749-VN 31 December 2020 STATEMENT OF INCOME AND EXPENDITURES For the year ended 31 December 2020 Accumulated to Notes 2020 31/12/2020 VND VND INCOME IDA fund 10 1,398,322,709,725 3,018,637,926,207 Counterpart fund 11 146,757,759,602 416,017,661,722 TOTAL INCOME 1,545,080,469,327 3,434,655,587,929 EXPENDITURES Part 1: Dam safety rehabilitation 1,859,267,914,807 3,204,584,965,384 Part 2: Dam safety management and planning 9,259,456,390 31,198,495,315 Part 3: Project management support 23,341,474,106 51,538,982,685 TOTAL EXPENDITURES 12 1,891,868,845,303 3,287,322,443,384 SURPLUS OF INCOME OVER EXPENDITURES (346,788,375,976) 147,333,144,545 Exchange differences (2,376,563,016) 15,026,828,664 SURPLUS OF INCOME OVER EXPENDITURES 511,524,912,201 AT THE BEGINNING OF THE YEAR SURPLUS OF INCOME OVER EXPENDITURES 162,359,973,209 162,359,973,209 AT THE END OF THE YEAR EJ A N UAN LN? FRU G IJdNG z GAG DV AN THUY Ldl 0 (CPO) 0 Doan Thu Thuy Dang The Luong uyen Canh Tinh Preparer Chief Accountant — Deputy Head of the Central Project Head of Finance and Office cum Director of the Project Accounting Department Hanoi, 30 November 2021 The accompanying notes are an integral part of these financial statements 8 VIETNAM DAM REHABILITATION AND FINANCIAL STATEMENTS SAFETY IMPROVEMENT PROJECT For the year ended Financing Agreement No. 5749-VN 31 December 2020 STATEMENT OF SOURCES AND USES OF FUNDS For the year ended 31 December 2020 Accumulated to 2020 31/12/2020 VND VND RECEIPTS IDA fund 1,398,322,709,725 3,018,637,926,207 Counterpart fund 146,757,759,602 416,017,661,722 TOTAL RECEIPTS 1,545,080,469,327 3,434,655,587,929 DISBURSEMENTS Part 1: Dam safety rehabilitation 1,711,210,979,181 3,186,803,128,856 Part 2: Dam safety management and planning 14,918,532,150 36,089,708,905 Part 3: Project management support 29,066,662,178 51,516,876,335 TOTAL DISBURSEMENTS 1,755,196,173,509 3,274,409,714,096 (DEFICIT)/SURPLUS OF RECEIPTS OVER DISBURSEMENTS (210,115,704,182) 160,245,873,833 Exchange differences (2,376,563,016) 15,026,828,664 SURPLUS OF RECEIPTS OVER DISBURSEMENTS AT THE 387,764,969,695 BEGINNING OF THE YEAR SURPLUS OF RECEIPTS OVER DISBURSEMENTS AT THE END 175,272,702,497 175,272,702,497 OF THE YEAR Represented by the balances as at 31 December 2020 of: Cash 174,694,187,222 Internal receivables 1,748,874,577 Other payables not relating to expenses (See Note 9) (1,170,359,302) 1 -P, \ 131-1,47- BAN 'Pr QUAN C ; 11 T UNG LcONG CAC CO AN THI:IY Lfil 41 ,o (CPO) 0 Doan Thu Thuy Dang The Luong guyen Canh Tinh Preparer Chief Accountant — Deputy Head of the Central Project Head of Finance and Office cum Director of the Project Accounting Department Hanoi, 30 November 2021 The accompanying notes are an integral part of these financial statements 9 I I I VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF DESIGNATED ACCOUNTS For the period : From 01January 2020 to 31 December 2020 Financing Agreeme t : 5749-VN Currency unit : USD Bank Lien Viet Post Joint Stock Lien Viet Post Joint Stock Lien Viet Post Joint Stock Lien Viet Post Joint Stock Commercial Bank - Dong Commercial Bank - Phu Commercial Bank - Quang Commercial Bank - Thanh Do Branch - Trung Yen Tho Branch Binh Branch Hoa Branch Transaction Office Account Holder Central Project Office Management Unit of Phu Management Unit of Management Unit of Tho Agriculture and Rural Quang Binh Dam Thanh Hoa Agricultural Development Construction Rehabilitation and Safety and Rural Development investment Project Improvement Project Construction Investment Project Account Number 21210371236666 006680868888 006616999999 999995766666 PART A - ACCOUNT ACTIVITIES Amount Amount Amount Amount Opening balance (01/01/2020) 397,656.96 1,025,901.50 1,451,425.27 344,626.95 Add: - Total amount replenished to account by the World Bank in the year 38,663,777.98 1,860,371.27 3,013,135.24 Deduct: - Total amount withdrawn 39,038,533.36 42,984.46 3,287,051.81 3,343,465.39 Closing balance (31/12/2020) 22,901.58 982,917.04 24,744.73 14,296.80 PART B - ACCOUNT RECONCILIATION 1. Amount advanced by the World Bank as at 01/01/2020 23,911,260.16 1,261,754.81 1,990,790.59 1,800,000.00 2. Total amount: replenished to Designated Account by the World Bank during the year 38,663,777.98 1,860,371.27 3,013,135.24 3. Deduct: Total amount accepted for advance clearance 45,306,326.35 3,351,161.86 4,113,135.24 4. Total advances to Designated Account as at 31/12/2020 17,268,711.79 1,261,754.81 500,000.00 700,000.00 5. Closing balance of Designated Account as at 31/12/2020 22,901.58 982,917.04 24,744.73 14,296.80 6. Add: Amount claimed but not yet approved 1,615,688.46 235,853.31 7. Add: Amount'withdrawn but not yet claimed 15,630,121.75 42,984.46 475,255.27 685,703.20 8. Total advances to Designated Account as at 31/12/2020 17,268,711.79 1,261,754.81 500,000.00 700,000.00 The accompanying notes are an integral part of these financial statements 10 b ZZ -J 1 1 1 I 1 I 1 1 I 1 1 VIETNAM DAM REHABILITATION AND S FETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF DESIGNATED ACCOUNTS (Continued) Bank Lien Viet Post Joint Stock Lien Viet Post Joint Stock Lien Viet Post Joint Stock Lien Viet Post Joint Stock Lien Viet Post Joint Stock Commercial Bank - Quang Commercial Bank - Dung Commercial Bank - Binh Commercial Bank - Nghe Commercial Bank - Ha Tinh Tri Branch Quat Branch Dinh Branch An Branch Branch Account Holder Management Unit of Management Unit of Management Unit of Binh Management Unit of Management Unit of Ha Quang Tri Agriculture and Quang Ngai Dam Dinh Dam Rehabilitation Nghe An Agriculture and Tinh Agriculture and Rural Rural Development Rehabilitation and Safety and Safety Improvement Rural Development Development Construction Construction Investment Improvement Project Project Construction Investment Investment Project Project Project Account Number 006463333333 00643471.9999 006542410003 006616999999 006629999999 PART A - ACCOUNT ACTIVITIES Amount Amount Amount Amount Amount Opening balance (01/01/2020) 5,821.26 1,241,280.69 3,509.82 55,732.28 Add: - Total amount replenished to account by the World Bank in the year 3,756,634.94 500,000.00 2,507,000.00 6,325,758.22 3,000,000.00 Deduct: - Total amount withdrawn 3,762,456.20 1,337,258.96 2,510,509.82 6,378,271.97 1,630,455.75 - Amount refunded to the World Bank 1,300,000.00 Closing balance (31/12/2020) 404,021.73 3,218.53 69,544.25 PART B - ACCOUNT RECONCILIATION 1. Amount advanced by the World Bank as at 01/01/2020 105,838.82 1,795,382.58 3,509.82 464,064.39 2. Total amount replenished to Designated Account by the World Bank during the year 3,756,634.94 500,000.00 2,507,000.00 6,325,758.22 3,000,000.00 3. Deduct: Total amount accepted for advance clearance 3,428,633.52 1,786,364.00 1,838,057.82 6,227,441.93 4. Deduct: Amount refunded to the World Bank 1,300,000.00 5. Total advances to Designated Account as at 31/12/2020 433,840.24 509,018.58 672,452.00 562,380.68 1,700,000.00 6. Closing balance of Designated Account as at 31/12/2020 404,021.73 3,218.53 69,544.25 7. Add: Amount claimed but not yet approved 672,452.00 1,630,455.75 8. Add: Amount withdrawn but not yet claimed 433,840.24 104,996.85 559,162.15 9. Total advances to Designated Account as at 31/12/2020 433,840.24 509,018.58 672,452.00 562,380.68 1,700,000.00 The accompanying notes are an integral part of these financial statements 11 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF DESIGNATED ACCOUNTS (Continued) BAN QUAN LV TRUNG L LING CAC DO AN TRAY LO Doan Thu Thuy Dang The Luong (CPO) .y/ en Canh Tinh Preparer Chief Accountant — Deputy Head of the Central Project Office cum Head of Finance and Accounting Department Director of the Project Hanoi, 30 November 2021 The accompanying notes are an integral part of these financial statements 12 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Amount disbursed/accepted for advance clearance Differences No. Currency Date Disbursement Advance clearance Advance Date Disbursement Advance clearance Disbursement Note clearance Designated Account Central Project Office CPMU074-DAKNONG USD 27/12/2019 21/01/2020 907,401.81 764,610.46 (907,401.81) (764,610.46) (*) CPMU073-QUANGNAM USD 27/12/2019 - 26/01/2020 756,648.73 (756,648.73) (5) CPMU072-GIALAI USD 27/12/2019 17/01/2020 432,096.10 23,706.48 (432,096.10) (23,706.48) (5) CPMU069-TUYENQUANG USD 18/12/2019 02/01/2020 308,315.67 209,540.15 (308,315.67) (209,540.15) (5) CPMU192A- KONTUM USD 25/12/2020 575,450.95 - 29/12/2020 575,450.95 - CPMU190B-LAOCAI USD 25/12/2020 216,920.00 30/12/2020 216,920.00 CPMU194-THAINGUYEN USD 23/12/2020 992,641.82 29/12/2020 992,641.82 CPMU193A-GIALAI USD 23/12/2020 954,861.11 29/12/2020 954,861.11 CPMU191- HAGIANG USD 22/12/2020 591,084.68 29/12/2020 591,084.68 CPMU188B-BINHTHUAN USD 18/12/2020 822,515.18 29/12/2020 822,515.18 CPMU187-HOABINH USD 18/12/2020 918,004.34 29/12/2020 918,004.34 CPMU186A-TUYENQUANG USD 18/12/2020 341,907.81 29/12/2020 341,907.81 CPMU189-KHANHHOA USD 18/12/2020 681,235.14 - 29/12/2020 681,235.14 CPMU 184-BACGIANG USD 15/12/2020 - 575,547.32 21/12/2020 - 575,547.32 CPMU 185-BACGIANG USD 15/12/2020 146,419.00 - 21/12/2020 146,419.00 CPMU180A-DAKNONG USD 15/12/2020 1,234,035.98 - 21/12/2020 1,234,035.98 CPMU181-MONRE USD 13/12/2020 39,265.77 22/12/2020 - 39,265.77 CPMU183-YENBAI USD 13/12/2020 1,518,438.00 - 21/12/2020 1,518,438.00 CPMU182-MONRE USD 13/12/2020 504,270.00 - 23/12/2020 504,270.00 CPMU173B-QUANGNI NH USD 08/12/2020 - 371,660.18 13/12/2020 371,660.18 CPMU173-QUANGNI NH USD 08/12/2020 448,051.09 - 11/12/2020 448,051.09 CPMU179-TUYENQUANG USD 04/12/2020 131,943.73 13/12/2020 - 131,943.73 CPMU178-SONLA USD 01/12/2020 11,462.00 - 08/12/2020 11,462.00 CPMU176-KONTUM USD 30/11/2020 247,376.48 07/12/2020 - 247,376.48 CPMU177-TUYENQUANG USD 30/11/2020 152,417.73 - 08/12/2020 152,417.73 CPMU165-NINHBINH USD 30/11/2020 225,575.00 - 08/12/2020 225,575.00 CPMU172-YENBAI USD 27/11/2020 212,029.43 08/12/2020 - 212,029.43 CPMU174-HUE USD 27/11/2020 290,286.36 08/12/2020 - 290,286.36 CPMU175-HUE USD 27/11/2020 169,335.00 - 08/12/2020 169,335.00 CPMU172B-YENBAI USD 27/11/2020 888,461.00 11/12/2020 888,461.00 CPMU170-TUYENQUANG USD 16/11/2020 200,969.47 25/11/2020 200,969.47 CPMU-169H0ABI NH USD 09/11/2020 159,056.12 - 20/11/2020 159,056.12 CPMU-159 HUE USD 06/11/2020 102,222.75 10/11/2020 - 102,222.75 CPMU163-GIALAI USD 06/11/2020 321,663.22 02/12/2020 - 321,663.22 CPMU164-TUYENQUANG USD 06/11/2020 524,075.71 10/11/2020 - 524,075.71 CPMU167-HOABI NH USD 06/11/2020 86,508. 2 .A.1:,,.1./.202g, - 86,508.22 ---..........--- The accompanying notes are an integral part of these financial statements 13 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Amount disbursed/accepted for advance clearance Differences Advance No. Currency Date Disbursement Advance clearance Date Disbursement Advance clearance Disbursement Note clearance Designated Account (Continued) Central Project Office CPMU-158 HAGIANG USD 06/11/2020 43,904.62 10/11/2020 43,904.02 CPMU162-LAMDONG USD 06/11/2020 310,191.49 10/11/2020 310,191.49 CPMU-166PHUYEN USD 06/11/2020 38,120.89 10/11/2020 38,120.89 CPMU-160HUE USD 06/11/2020 290,000.00 - 09/11/2020 290,000.00 CPMU-168 BACGIANG USD 05/11/2020 575,547.00 - 12/11/2020 575,547.00 CPMU159-DAKLAK USD 27/10/2020 466,260.04 03/11/2020 466,260. CPMU161-THAINGUYEN USD 27/10/2020 452,684.24 03/11/2020 452,684. 4 CPMU159A-DAKLAK USD 27/10/2020 793,390.35 - 04/11/2020 793,390.35 CPMU158-DAUTIENG USD 23/10/2020 999,128.53 03/11/2020 999,128.53 CPMU156-LAOCAI USD 21/10/2020 364,989.22 03/11/2020 364,989.22 CPMU154-BINHTHUAN USD 21/10/2020 181,625.30 03/11/2020 181,625.30 CPMU-157 SONLA USD 21/10/2020 389,811.04 03/11/2020 389,811.04 CPMU155-NINHTHUAN USD 21/10/2020 362,383.16 03/11/2020 362,383 16 CPMU153B-QUANGNINH USD 21/10/2020 371,660.17 26/10/2020 371,660.17 CPMU153A-QUANGNINH USD 20/10/2020 72,644.61 27/10/2020 - 72,644.61 CPMU147A-YENBAI USD 08/10/2020 632,363.14 15/10/2020 - 632,363.14 CPMU147B-YENBAI USD 08/10/2020 215,434.00 22/10/2020 215,434.00 CPMU-152BACKAN USD 07/10/2020 41,379.33 15/10/2020 - 41,379.33 CPMU149 USD 06/10/2020 197,767.79 15/10/2020 - 197,767.79 CPMU148A-TUYENQUANG USD 06/10/2020 992,083.82 21/10/2020 - 992,083 82 CPMU150-DAUTI ENG USD 06/10/2020 999,128.53 13/10/2020 999,128.53 CPMU148B-TUYENQUANG USD 06/10/2020 520,229.15 13/10/2020 520,229.15 CPMU1S1-THAI N GUYEN USD 06/10/2020 442,325.55 13/10/2020 442,325.55 CPMU14S-YENBAI USD 02/10/2020 - 655,516.49 14/10/2020 - 655,516 49 CPMU146-MOT USD 02/10/2020 - 64,465.31 12/10/2020 - 64,465 31 CPMU139B-KONTUM1 USD 29/09/2020 304,623.76 - 07/10/2020 304,623.76 CPMU143-THAINGUYEN USD 23/09/2020 - 218,826.70 30/09/2020 - 218,826.70 CPMU-144 HUE USD 22/09/2020 888,966.17 19/10/2020 888,966 17 CPMU142A-QUANG NINH USD 18/09/2020 - 662,889.26 29/09/2020 - 662,889 26 CPMU141-TUYENQUANG USD 14/09/2020 - 624,128.11 30/09/2020 - 624,128 11 CPMU139A-KONTUM USD 14/09/2020 1,090,833.45 30/09/2020 1,090,833 45 CPMU140-DAKNONG USD 14/09/2020 - 175,897.60 22/09/2020 - 175,897 60 CPMU137-TUYENQUANG USD 14/09/2020 994,884.98 25/09/2020 994,884.98 - CPMU138-BINHTHUAN USD 08/09/2020 - 555,806.59 14/09/2020 - 555,806 59 CPMU-136BACKAN USD 01/09/2020 134,810.47 09/09/2020 - 134,810.47 CPMU-134 HAGIANG USD 27/08/2020 814,793.00 01/09/2020 - 814,793 00 CPMU128A-KHANH HOA USD 27/08/2020 2,072,832.72 01/09/2020 2,072,832 72 The accompanying notes are an integral part of these financial statements 14 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Arncunt disbursed/accepted for advance clearance Differences No. Currency Date Disbursement Advance clearance Advance Date Disbursement Advance clearance Disbursement Note clearance Designated Account (Continued) Central Project Office (Continued) CPMU125A-NINH THUAN USD 27/08/2020 598,227.04 02/09/ 020 598,227.04 CPMU-135QUANGNAM USD 27/08/2020 529,975.69 02/09/ 020 529,975.69 CPMU129-YENBAI USD 27/08/2020 - 998,352.91 02/09/ 20 998,352.91 CPMU128B-KHANH HOA USD 27/08/2020 704,921.72 02/09/ 20 704,921.72 CPMU125B-NINH THUAN USD 27/08/2020 362,373.01 02/09/ 020 362,373.01 CPMU133-TUYENQUANG USD 26/08/2020 627,815.48 08/09/ 20 627,815.48 CPMU130-TUYENQUANG USD 21/08/2020 - 59,136.16 04/09/ 20 59,136.16 CPMU131-THAINGUYEN USD 21/08/2020 - 933,458.67 02/09/ 20 933,458.67 CPMU-127BACGIANG USD 05/08/2020 - 73,455.61 20/08/ 020 73,455.61 CPMU124-YENBAI USD 04/08/2020 - 691,672.24 06/08/ 020 691,672.24 CPMU117A-CPMU USD 03/08/2020 306,686.11 306,686.11 14/08/ 020 306,686.11 306,686.11 CPMU120-QUANGNINH USD 20/07/2020 - 1,422,318.61 21/07/ 020 1,422,318.61 CPMU112A-LAOCAI USD 20/07/2020 605,013.00 505,335.65 22/07/ 020 605,013.00 505,335.65 CPMU121-KONTUM USD 07/07/2020 1,088,895.92 1,198,125.92 24/07/ 020 1,088,895.92 1,198,125.92 CPMU118-HAGIANG USD 07/07/2020 858,697.62 - 23/07/ 020 858,697.62 CPMU119-QUANGNAM USD 07/07/2020 703,951.00 22/07/ 020 703,951.00 CPMU116B-VINHPHUC USD 06/07/2020 877,770.85 228,737.15 09/07/ 020 877,770.85 228,737.15 CPMU111 DAKNONG USD 01/07/2020 786,595.48 14/07/ 020 786,595.48 CPMU109DAKNONG USD 01/07/2020 54,918.55 - 10/07/ 020 54,918.55 CPMU114A-BAC KAN USD 30/06/2020 259,608.10 - 10/07/ 020 259,608.10 CPMU103-DAKLAK USD 20/05/2020 - 2,041,036.60 27/05/ 020 2,041,036.60 CPMU-106MONRE USD 20/05/2020 111,570.00 - 28/05/ 020 111,570.00 CPMU-107SONLA USD 13/05/2020 1,458,337.52 31/05/ 020 1,458,337.52 CPMU-108BACGIANG USD 13/05/2020 73,150.00 05/06/ 020 73,150.00 CPMU101-YENBAI USD 11/05/2020 1,652,465.87 923,230.03 12/05/ 020 1,652,465.87 923,230.03 CPMU105-BINHTHUAN USD 11/05/2020 809,307.88 19/05/ 020 809,307.88 CPMU104-KHANHHOA USD 11/05/2020 2,099,110.40 - 19/05/ 020 2,099,110.40 CPMU098-LAMDONG USD 30/04/2020 446,961.20 07/05/ 020 446,961.20 CPMU100-NINH THUAN USD 29/04/2020 545,412.79 - 06/06/ 020 545,412.79 CPMU102-QUANGNAM USD 28/04/2020 - 110,343.58 07/05/ 020 110,343.58 CPMU099-THAINGUYEN USD 08/04/2020 376,136.06 13/04/ 020 376,136.06 CPMU083A USD 31/03/2020 982,372.76 03/04/ 020 982,372.76 CPMU092A-MOIT USD 31/03/2020 25,137.81 03/04/ 020 25,137.81 CPMU091A-NINH THUAN USD 31/03/2020 764,028.44 03/04/ 020 764,028.44 CPMU090A-LAOCAI USD 31/03/2020 881,902.01 03/04/ 020 881,902.01 CPMU096-DAKNONG USD 24/03/2020 - 193,122.84 26/03/ 020 193,122.84 CPMU095-KONTUM USD 24/03/2020 - 132,167.21 26/03/ 020 132,167.21 CPMU094-TUYENQUAN G USD 24/03/2020 346,661.23 26/03/ 020 346,661.23 The accompanying notes are an integral part of these financial statements 15 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Amount disbursed/accepted for advance clearance Differences Advance No. Currency Date Disbursement Advance clearance Date Disbursement Advance clearance Disbursement Note clearance Designated Account (Continued) Central Project Office (Continued) CPMU089-HAGIANG USD 19/03/2020 1,514,659.00 24/03/2020 1,514,659.00 i 1 CPMU088-HOABINH USD 19/03/2020 322,825.11 24/03/2020 322,825.11 CPMU-093MONRE USD 15/03/2020 55,963.23 26/03/2020 55,963.23 CPMU-097PHUYEN USD 15/03/2020 176,027.67 26/03/2020 176,027.67 CPMU085-LANGSON USD 02/03/2020 113,951.78 11/03/2020 113,951.78 CPMU084-BINHTHtJAN USD 02/03/2020 676,030.86 11/03/2020 676,030.86 CPMU086-QUANGN IN H USD 02/03/2020 2,150,699.71 1,207,206.10 05/03/2020 2,150,699.71 1,207,206.10 CPMU087-VINHPHUC USD 02/03/2020 774,776.30 25/03/2020 - I 774,776.30 CPMU081-LANGSON USD 21/01/2020 163,510.22 05/02/2020 163,510.22 CPMU079-YENBAI USD 21/01/2020 1,705,836.00 2,301,560.04 24/01/2020 1,705,836.00 2,301,560.04 CPMU080-KONTUM USD 21/01/2020 336,094.31 l., 9 9 4, 5 2 2 . 0 4 24/01/2020 336,094.31 1,994,522.04 CPMU082-SONLA USD 21/01/2020 1,850,879.00 07/02/2020 1,850,879.00 - - CPMU075 USD 06/01/2020 785,911.00 21/01/2020 785,911.00 - CPMU078-KHANHHOA USD 02/01/2020 135,106.87 24/01/2020 135,106.87 ' CPMU076-BINHTHUAN USD 01/01/2020 676,180.17 614,317.37 13/01/2020 676,180.17 614,317.37 CPMU077-LAOCAI USD 01/01/2020 508,361.00 80,167.15 24/01/2020 508,361.00 80,167.15 CPMU 199- BACGIANG USD 30/12/2020 - 146,419.61 07/01/2021 146,419.61 (4,1 CPMU200-BACGIANG USD 30/12/2020 841,648.00 - 06/01/2021 841,648.00 (**) CPMU 197-PHUYEN USD 28/12/2020 32,444.00 - 08/01/2021 32,444.00 (**) CPMU195-QUANGNAM USD 25/12/2020 155,796.92 07/01/2021 155,796.92 (**) CPMU190-LAOCAI USD 25/12/2020 225,717.88 06/01/2021 225,717.88 CR 1 CPMU 196-QUANGNAM USD 25/12/2020 1,163,971.00 06/01/2021 1,163,971.00 CPMU193-GIALAI USD 23/12/2020 124,824.08 05/01/2021 124,824.08 CPMU192-KONTUM USD 23/12/2020 57,616.57 06/01/2021 57,616.57 (**) CPMU188-BINHTHUAN USD 18/12/2020 53,384.54 06/01/2021 53,384.54 (4,1 CPMU171- KHAN HHOA USD 18/12/2020 710,065.97 12/01/2021 710,065.97 (* *) CPMU186-TUYENQUANG USD 18/12/2020 141,862.89 06/01/2021 - 141,862.89 (*I The accompanying notes are an integral part of these financial statements 16 I 1 1 1 1 1 1 1 I 1 1 I I 1 1 1 1 I I I 1 I VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Amount disbursed/accepted for advance clearance Differences Advance No. Currency Date Disbursement Advance clearance Date Disbur'sement Advance clearance Disbursement Note clearance Designated Account (Continued) Management Unit of Quang Binh Dam Rehabilitation and Safety Improvement Project QB011 USD 09/12/2020 487,439.27 487,439.27 29/12/2020 487,439.27 487,439.27 QB010 USD 10/11/2020 1,304,447.45 24/11/2020 1,304,447.45 QB009 USD 09/11/2020 500,000.00 20/11/2020 500,000.00 QB006 USD 22/04/2020 872,932.00 1,559,275.14 19/05/2020 872,932.00 1,559,275.14 Management Unit of Quang Ngai Dam Rehabilitation and Safety Improvement Project QN010 USD 11/11/2020 500,000.00 20/11/2020 500,000.00 QN009A USD 09/11/2020 436,173.97 22/11/2020 I 436,173.97 QN008A USD 10/08/2020 464,531.37 20/08/2020 464,531.37 QN007 USD 27/02/2020 885,658.66 01/04/2020 885,658.66 Management Unit of Phu Tho Agricultural and Rural Developme t Construction Investment Project PPM U PT003-WB8 USD 13/12/2020 235,853.31 07/01/2021 235,853.31 **) Management Unit of Quang Tri Agricultural and Rural Development Construction Investment Project QTR15 USD 04/12/2020 433,840.24 - 17/12/2020 433,840.24 - QTR14 USD 11/11/2020 - 558,678.55 13/11/2020 558,678.55 QTR13B USD 10/09/2020 558,678.55 519,036.14 22/09/2020 558,678.55 519,036.14 QTR12A USD 05/08/2020 519,031.14 864,304.24 14/08/2020 519,031.14 864,304.24 QTR 11 USD 17/06/2020 834,513.88 30/06/2020 834,513.88 - QTR10 USD 24/05/2020 621,327.10 17/06/2020 621,327.10 QTR 009 USD 21/04/2020 865,287.49 15/05/2020 865,287.49 QTRI 008 USD 19/03/2020 651,117.46 - 01/04/2020 651,117.46 - QTR1 006 USD 01/01/2020 759,453.67 - 22/01/2020 75 ,453.67 - Management Unit of Binh Dinh Dam Rehabilitation and Safety Improvement Project BD012A USD 20/02/2020 560,000.00 - 02/03/2020 56 ,000.00 - BD014 USD 03/03/2020 560,000.00 563,509.82 12/03/2020 560,000.00 563,509.82 BD015A USD 24/03/2020 720,000.00 560,000.00 01/04/2020 720,000.00 560,000.00 BD016A USD 15/05/2020 714,237.47 31/05/2020 714,237.47 BD023 USD 19/11/2020 667,000.00 310.53 08/12/2020 667,000.00 310.53 BD024A USD 29/12/2020 672,452.00 08/01/2021 - 672,452.00 (**) The accompanying notes are an integral part of these financial statements 17 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) For the year ended 31 December 2020 Withdrawal Application Amount claimed for disbursement/advance clearance Amount disbursed/accepted for advance clearance Differences Advance No. Currency Date Disbursement Advance clearance Date Disbursement Advance clearance Disbursement Note clearance Designated Account (Continued) Management Unit of Thanh Hoa Agricultural and Rural Development Construction Investment Project TH 006 USD 16/12/2019 10/01/2020 1,135,210.75 1,135,210.75 ( ,135,210.75) (1,135,210.75) ("1 TH 009 USD 17/07/2020 477,924.49 1,577,924.49 07/08/2020 477,924.49 1,577,924.49 - - TH 010 USD 06/09/2020 700,000.00 700,000.00 21/09/2020 700,000.00 700,000.00 - TH 011 USD 25/11/2020 700,000.00 700,000.00 08/12/2020 700,000.00 700,000.00 Management Unit of Nghe An Agricultural and Rural Development Construction Investment Project NA015 USD 04/12/2020 117,403.25 14/12/2020 117,403.25 NA016 USD 04/12/2020 500,000.00 17/12/2020 500,000.00 NA014 USD 17/11/2020 170,871.35 27/11/2020 170,871.35 NA013 USD 14/10/2020 389,474.95 27/10/2020 389,474.95 NA012 USD 17/09/2020 - 404,980.45 24/09/2020 404,980.45 NA011 USD 03/09/2020 690,830.00 674,243.27 28/09/2020 690,830.00 674,243.27 NA 010 USD 26/06/2020 - 871,476.05 23/07/2020 871,476.05 NA009 USD 06/04/2020 1,178,406.48 1,448,309.86 14/04/2020 1,178,406.48 1,448,309.86 NA008 USD 15/03/2020 2,000,000.00 1,742,350.64 26/03/2020 2,000,000.00 1,742,350.64 NA007 USD 25/02/2020 1,956,521.74 03/03/2020 1,956,521.74 - USD 06/01/2020 - 408,732.11 03/02/2020 408,332.11 400.00 (***) NA006A Management Unit of Ha Tinh Agricultural and Rural Development Construction Investment Project 01-HATINH USD 26/12/2019 16/01/2020 3,000,000.00 (3,000,000.00) (*) 02 - HAT I N H USD 31/12/2020 - 1,630,455.75 11/01/2021 - 1,630,455.75 (**) Refund USD 27/11/2020 (1,300,000.00) 27/11/2020 (1,300,000.00) Direct payment Management Unit of Binh Dinh Dam Rehabilitation and Safety Improvement Project BD020 VND 16/11/2020 6,130,340,000 04/12/2020 6,130,340,000 BD018 VND 16/11/2020 9,114,616,000 03/12/2020 9,114,616,000 BD022 VND 16/11/2020 12,785,972,000 04/12/2020 12,785,972,000 BD019 VND 16/11/2020 4,291,294,000 04/12/2020 4,291,294,000 BD021 VND 16/11/2020 5,490,653,000 04/12/2020 5,490,653,000 BD013 VND 28/02/2020 9,912,680,000 16/03/2020 9,912,680,000 Total USD 54,581,716.32 67,316,253.67 58,326,677.65 66,051,120.72 (3,744,961.33) 1,265,132.95 VND 47,725,555,000.00 47,725,555,000.00 The accompanying notes are an integral part of these financial statements 18 i -J 1 VIETNAM DAM REHABILITATION AND SAFETY IMPROVEMENT PROJECT FINANCIAL STATEMENTS Financing Agreement No. 5749-VN For the year ended 31 December 2020 STATEMENT OF LOAN WITHDRAWALS (Continued) (1 Represent withdrawal applications submitted in 2019 and accepted for disbursement and advance clearance by World Bank in 2020 with the respective amounts of USD 5,783,024.33 and USD 2,889,716.57. (**) Represent withdrawal applications submitted in 2020 and accepted for disbursement and advance clearance by World Bank in 2021 with the respective amounts of USD 2,038,063.00 and USD 4,154,449.52. (***) Represent amount whose claims for advance clearance were rejected by the World Bank as the claimed amount exceeded amount stated in the attached SOE. P. PH4). - BANANLy QUAN TRUNG UtiNG