ФсIАR GRoIJp TýIAR_FINANý, LLc
8 Tel/Fax: (99s-71) 262,50,70, 262,50,90, 262,08,4т
Ж E-mail: reception@ciar.uzl rесерtiоп@сiаrqrочр,пеt
www.ciar.uz
"FERGHANA VALLEY WATER RESOURCES
MANAGEMENT PRoJECT - PHASE ll"
l-r lDA CREDIT No.6083-UZ
EU GRANT No. тFоА9862
lNDEPENDENT AUDlToR,S REPoRT
ON SPECIAL PURPOSE FINANCIAL STATEMENTS
FoR тнЕ YEAR ENDED 31 DECEMBER 2021
GRoup TSIAR-FINANS, LLc
фсrак
lNDEPENDENT AUDlToR,S REPoRT
projects in water sector
то: Management of the center for lmplementation of Fоrеigп lnvestment
we have audited the ассоmрапуiпg special purpose Fiпапсiаl statements (hеrеiпаftеr - Financial
Statements) of thе ''Ёеrghапа'ЧаrrеУ Wjter Resouices Management Project
-.Phase ll" (hereinafter -
Project) fiпiпсеd against-the credit рrосееds of the lnternational Development
Association (hereinafter -
iоД), base6 оп trlЪ pioui.ion' of the Financing Аgrееmепt No.6083-UZ dated 20 September 2017
(БеiЁlпаrtеr - the Financing Дgrееmепt) and the grint ръсееds of lпtеrпаtiопаl Bank fоr Reconstruction and
bevelopment / lnternatio-nal- Development AsБociation acting as аП Administrator of the ЕurОРеаП
Trust Fund, based оп the
соmmiъsiоп - wоrld Вапk Раrtпеrshiр Рrоgrаm Asia Рrоgгаmmhiс single-Donor
JЙчlsiопs of the EU Grant Agreembnt Nъ.тгодgв62 dated 't3 April 2019 (hereinafter - the EU Grапt
Аgrееmепt), for the уеаr ended 31 December 2021,
The Special Рчrроsе Financial Statements comprise:
(i) for Credit Nо.608з-UZ: Sчmmаrу of Sочrсеs апd Uses of Funds showing the World Вапk and
сочпiеrрап funds separately, Detailed statement ехрепditчrеs оп project components and
of
subcomponents, Designated дссочпt Statement, Other Accounts Statements, SOE withdrawal schedule,
Reconciliation stаtеmБпt fоr replenished and rесочеrеd soE disbursements, Direct payments schedule,
Special рчrроsе Ьа|апсе sheet;
(ii) for Grant Nо.ТFоА9862: Sчmmаrу of sources and uses of EU Grапt funds, Detailed Statement of
use'or funds Ьу project components and subcomponents, Grапt and other Accounts statements, soE
withdrawal schedule,'Reconciiiation statement fоr replenished and rесоvеrеd SOE disbursements, Special
purpose balance sheet; and
(iii) а summary of significant accounting policies and other ехрlапаtоrу iпfоrmаtiоп.
The Fiпапсiаl statements have Ьееп рrераrеd Ьу the management of the Сепtеr fоr lmplementation of
Fоrеigп lnvestment Рrоjесts iп Water'Sector (heieinafter - Сепtеф according to the lпtеrпаtiопаl Public
public
sectoi Дссочпtiпg stanbards (lpsAs), based оп the cash flow method, issued Ьу the lnternational
sесtоr Дссочпtiпg standards Board of the lnternational Federation of Accountants.
Auditor's opinion
ln очr орiпiоп,
. The above-stated Fiпапсiаl statements give а trче and fair view of the sоurсеs and uses of the
''Ferghana Valley Water Resources МаЪаgеmепt Project - Phase ll" Pýect funds for the period
rrоmЪ,t January iozl to з1 December 2о2l Й ассоrdапсе with the accounting рriпсiрlеs of the IPSAS;
о дll disbursed lDД Lоап and EU Grant proceeds have Ьееп used solely fоr the Project objectives as
proceeds
endorsed Ьу the Financing Дgrееmепt and EU Grant Agreement; and по Loan апd Grant
have Ьееп used fоr оthеr purposes;
о Моrеочеr, with respect to SOEs, adequate supporting documentation has Ьееп maintained to support
claims to the lDд iоr rесочеrеd of expenditures iпсчirеd чпdеr the credit No.6083-uz and under the
Grant Nо.тFод9862; and the expenditures comply with objectives stipulated in the FiПаПСiПg
Agreement No.6O83-UZ and EU Grапt Agreement No.TFOA9862;
. The Designated дссочпt Statement оп lDA Credit No.6083-UZ and Grапt Account Statement оп Grant
Nо.ТFод9862 fоr the реriоd frоm 01 January 2О21 to 31 December 2021give а truе and fair view of
the financial position oi the Designated апd Grапt Accounts of the Рrоjесt as at 31 DесеmЬеr
2021 and
of the cash flows for the fоr the уЪаr then ended and complies with the World Bank's guidelines.
Basis for opinion
we conducted our audit in ассоrdапсе with lnternational standards оп Auditing (lsAs). our responsibilities
чпdеr those standards аrе further described iп the Auditor's Responsibilities for the Audit of the Fiпапсiаl
statements section of очr rероrt. we аrе independent of the Сепtеr in ассоrdапсе with the lпtеrпаtiопаl
Ethics Standards Board of дссочпtапts' Code of Ethics for ProfessionalAccountants (lESBA Code), and we
have fulfilled очr оthеr ethical responsibilities in ассоrdапсе with this code. we believe that the audit
evidence we have obtained is sufficient and аррrорriаtе to provide а basis for оur opinion.
lmpoЁant circumstances - ассочпtiпg principles and distribution restrictions
we draw attention to Note 2 to the special purpose Financial statements, which dеsсriьеs the basis of
accounting. The special Рчrроsе Financial statements аrе рrераrеd _to assist the Сепtеr to comply with the
financial Йропiпg provisions'on the requirements conditions of the lpsAs-cash basis.
GRoup TSIAR-F]NANS, LLc
фсrлк
лs а result, tne ýpeclal Рчrроsе Flпапсlаl ýtalements may vvorld вапк апd the Gоvеrпmепt от tne kepuDllc
of Uzbekistan, as wellas the Сепtеr, and should not Ье distributed to оr used Ьу оthеr parties.
other Matter
FiпапсiаlДчdit rероrts and opinions, as ruled Ьу the requirements set Ьу the World Вапk, sha|l Ье uploaded,
published and publicly accessible оп the Wоrld Bank's website.
Management's Responsi bility
I
The management of the Center is rеsропsiЬlе fоr рrераrаtiоп and fair рrеsепtаtiоп of these special рuгроsе
financial sйtеmепts based оп the cash flow basis in ассоrdапсе with lPSAS-cash basis. This responsibility
1
includes designing, implementing and maintaining iпtеrпаl control relevant to the preparation and fair
presentation oJ ttrё special рчrроье financial statements that аrе free frоm material misstatement, whether
due to fraud оr еrrоr; selecting and applying аррrорriаtе accounting policies; and making accounting
estimates that аrе rеаsопаьlе iп the сirсчmstапсеs.
Дчditоr's responsibilities for the audit of the financial statements
очr objectives аrе to obtain rеаsопаьlе assurance about whеthеr the financial statements as а whole аrе
free frоm material misstatement, whether due to fгачd оr еrrоr, and to issue ап auditor's rероrt that includes
очr opinion. Reasonable аssчrапсе is а high level of assurance, but is not а guarantee that ап audit
conducted in ассоrdапсе with lsAs will always detect а material misstatement whеп it exists. Misstatements
сап аrisе frоm fraud оr еrrоr and аrе сопsidеrеd material if, individually оr iп the aggregate, they could
геаsопаьlу Ье expected to influence the economic decisions of users taken оп the basis of these financial
statements.
Дs раrt of ап audit in ассоrdаПсе with lSAs, we ехеrсisе professional judgment and maintain рrоfеssiопаl
skepticism throughout the audit. We also:
. ldentify and assess the risks of material misstatement of the fiпапсiаl statements, whether due to fraud
оr еrrоr, design and реrfоrm audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and аррrорriаtе to provide а basis for очr орiпiоп. The risk of not detecting а material
misstatement resutting'from fraud is higher than for опе resulting from еrrоr, as fraud may iпvоlvе
collusion, fоrgеrу, intentional omissions, misrepresentations, оr the override of internal control.
о obtain ап understanding of internal control rеlечапt to the audit in оrdеr to design audit рrосеdurеs that
аrе аррrорriаtе in the circumstances, but not fоr the рчrроsе of expressing ап opinion оп the
effectiveness of the Сепtеr's internal сопtгоl.
. Evaluate the аррrорriаtепеss of accounting policies used and the rеаsопаЬlепеss of accounting
estimates and related disclosures made Ьу management.
. Conclude оп the appropriateness of management's use of the going сопсеrп basis of accounting and,
based оп the audii evidence obtained, whether а material чпсеrtаiпtу exists related to events оr
conditions that may cast significant doubt оп the Сепtеr's ability to continue as а going сопсеrп. lf we
conclude that а material чпЪеrtаiпtУ exists, We аrе required to draw attention in оur auditor's rероrt to
the related disclosures iп the financial statements оr, if such disclosures аrе inadequate, to modify оur
орiпiоп. очr conclusions аrе based on the audit evidence obtained up to the date of оur auditor's rероrt.
ноwечеr, future events оr conditions may cause the center to cease to continue as а going сопсеrп.
. Evaluate the очеrаll presentation, strчсtчrе and content of the financial statement, including the
disclosures, and whеthеr the financial statements present the underlying transactions and in а mаппеr
that achieves fаir presentation,
We communicate with the Сепtеr's management rеgаrdiпg, among other matters, the planned sсоре and
timing of the audit and significant audit findings, including апу significant deficiencies iп iпtеrпаl сопtrоl that
we identify dчгiпg очr audit.
we also provide the Сепtеr management with а statement that we have complied with relevant ethical
rеqчirеmепts regarding iпdерепdепЪе, and to communicate with them all relationshipg;7ffi5gBtters
that may reasonibly Ье thought to Ьеаr оп очr independence, and whеrе applicable,
Auditor:
TSlAR-FlNANS LLc
2А, Chust Street,
TSjjB -Pr, NSlЁё
Tashkent, 1 00077, Uzbekistan
<10> Мау 2022 /ý
Fеrgапа Vаllеу Water Resources Management Phase-2 Project
lDA cREDlT Ns 6083-UZ
SUMMARY ОF SOURCES AND USES ОF FUNDS SHOWING ТНЕ WORLD BANK AND
for the period from Jапuаry 01, 2021 to December 31, 2021
(lп UýD)
Actual
Year to Date cumulative to Date
sources of Funds
lDA Funds 18 205 760 42 945 01 9
DS- А 6 200 000
,1в
Dirесt pavments 205 76с зб 745 019
Government payments 7з7 251 778 458
Share of the Republic of Uzbekistan 737 137 lзl |3l
3id. Documents receipts 0 40 095
Эthеr 120 1 226
Total 18 943 017 43 723 477
iDA Fчпds
Wоrký, goods, consultlng, Non-consultlng, Training, operating
cost
Sub-com Дl-Rеstоrаtiоп of the main and inter-farm irrigation networ
mith faeilitiёý 2 929 281 1 1 529 вв€
,lб
Sub-com A2-New construction of irriоаtiоп wells 6 732 з2в 1 97 66з
Sub-com А3- Reconstruction of pumping station 3 5в9 121 6 612 162
Sub-com A4-Construction of pumping station 5 418 508 5 418 50в
Sub-com A5-Strenqtheninq of coast
sub-com A6-conversion of the kandion sedimentation to the
Reseruoir
SчЬ-соm A7-Payment of compensation for lац9|а|]q!а,Фп
Sub-com A8-Purchase of laboratory equipment
sub-com Bl-Aqricultural intensiflcation and diversification
Sub-com B2-1mproved Wаtеr Management
sub-com Вз- pilot and lnnovative approaches/audit
Sub-com С,l-ореrаtiпg coast & PlU staff 365 27€ 902 64с
Sub-com C2-Purchase of cars for PlU 52 454
Sub-com С3- Аппчаl audit 10 86€ 32 638
Sub-com С4- Monitroinq and evaluation 205 5зв 205 538
Sub-com C5-Services of the supervision 526 в20 1 646 886
Sub-com С6-Рапеl of purchases 47 690 210 7зз
Sub-com C7-Technical audit
Sub-com CB-Environmental plan
Total 19 825 428 42 809 110
Tender's documentation
Tender's documentation в2 38 667
Total 82 38 667
other costs plu
other costs plu 12Q l zzo
Total 120 1 226
Total proiect expenditure 19 825 630 42 849 003
Excess of receipts очеr Payments (882 61 2) 874 474
ng Cash Ваlапсе
Dд Funds 1 755 577
эочеrпmепt oavments
Total 1 755 919 0
Net available cash 873 306 874 474
osing Cash Balance
lDA Funds в73 046 873 046
Government payments
Total 873 303 873 303
]xchange rate difference ,,:
3 1 171
tonI 10,2022
:::::""ffi
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Di rector ...,
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l.zubareva
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Deputy chief Accountant
"Summary of Sources and Uses of Funds showing the World Bank and counterpart funds" separately to Ье read iп
conjunction with Notes thereto forming ап iпtеgrаl раrt of the Project special fiпапсiаl statements.
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Fergana Valley Water Rеsочrсеs Management Phase,2 Project
lDA CREDIT Ns 6083-UZ
Special financial statement for the project
RECONClL|AT|ON STATEMENT FОR REPLENISHED AND RECOVERED SOE D|SBURSEMENTS
for the period from Janriary 01, 2021 to December 31, 2021
(USD)
1 0з2 856
Total SOE Expenditures
(412 269)
lncluding ехрепsеs of 2020 according to the SOE No.52
620 588
Total
1 032 856
Recovered
(412 2в9)
lncluding rесочеrеd on SOE No.52
Total 620 588
(
Difference
*
Expenditures iпсurrеd Ьу December 31 , 2020 (WД No.52)
Signed fоr and оп behalf of Management оп Мау 1О,2022
B.Kamalov
Director
|.Zubareva fu.--
Deputy Chief Accountant
"Reconci|iation statement for Replenished and Recovered soE Disbursements " to Ье read in conjunction with Notes
thereto forming ап integral рагt of the Project special financial statements
Fеrgапа Valley Water Resources Management Phase-2 Project
lDA cREDlT Ns 6083-UZ
Fеrgапа Valley Water Resources Management Phase,2 Project
Schedu]e of direct payments under the lDA Credit
forthe period from January 01,2021 to December 31,2021
(USD)
withdrawal Total amount
application in USD
No Category Payment счrrепсу
53 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 27 208 27 208
54 Works,Goods,Consulting services,Non- Consulting,Training, Ореrаtiпg Cost USD 69 775 69 775
,164 64 435
55 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 435 1
56 Works,Goods,Consulting services,Non- Consulting,Training, operating Cost USD 365 321 365 321
57 Works,Goods,Consulting services,Non, Consulting,Training, Operating Cost USD 120 348 120 348
58 Works,Goods,Consulting services,Non- ConsuIting,Training, Operating Cost USD 326 395 326 395
59 Works,Goods,Consulting services,Non- Consulting,Training, Ореrаtiпg Cost USD 120 227 120 227
60 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 708 879 708 879
61 Works,Goods,ConsuIting services,Non, Consulting,Training, Operating Cost USD 1 98 961 1 98 961
62 Works,Goods,Consulting services,Non- Consulting,Training, Ореrаtiпg Cost USD 60 307 60 307
63А Works,Goods,ConsuIting services,Non- Consulting,Training, Operating Cost USD 13 з14 13 314
64А Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 15 000 15 000
65 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 489 913 489 91 3
66 Works,Goods,ConsuIting services,Non- Consulting,Training, Operating Cost USD 57 210 57 21о
67 Works,Goods,ConsuIting services,Non- Consulting,Training, Operating Cost USD 31 9 406 31 9 406
68 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 31 9 808 319 в08
69 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 263 225 263 225
70 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 4оо 752 400 752
94 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 531 722 531 т22
95 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 204 923 204 g23
96 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 281 32з 281 з23
97 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 2 260 в15 2 260 в15
98 Works,Goods,Consulting services,Non- Consulting,Training, Operating Cost USD 5 418 508 5 418 508
Total 18 205 760
Signed for and оп behalf of 10,2022
ffi
,be*J'
----Т-----Т
*ъ]\;*ý.\,,_У;f1Е/.ýi
l.Zubareva
Deputy Chief Accountant
Direct Payments Schedule - lDA Credit to Ье read in conjunction with Notes thereto forming ап integral раrt of the Project special
financial statements.
Fеrgапа Valley Water Resources Management Phase-2 Project
lDA CREDIT Ns 6083-UZ
SPEсIAL PURPoSE BALANCE SHEET AS оF DECEMBER 31,2021
31.12.2021 31.12,2020
Notes
ASSETS
cash and cash equivalents 873 303 1 755 919
РrореЁу, P]ant and Equipment 68 803 68 803
proiect expenditure:
lDA Funds 42 019 491 22931 200
Government funds 737 137 0
тепdеr's documentation 28 922 28 841
Other expenses 1 226 1 106
Total expenditures 42786 776 22 961 147
Gain (Loss) frоm fогеigп exchane
differences 1 171 1 167
Total assets 43 730 053 24 787 036
Accumulated funds
Project financing
lDA Funds 42 945 01 9 24 739 259
Gочеrпmепt funds 737 137 0
Tender's documentation 40 095 40 095
,1
Оthеr ехрепsеs 1 226 106
Totalfinancinq 43 72з 477 24 780 459
Revaluation of the Рrорегtу, Plant and
Equipment 6 576 6 576
TOTAL ACCUMULATED FUNDS 43 730 053 24787 035
Signed for and оп 10,2022
л
B.Kamalov
Director
l.Zubareva ё2и/,-
Deputy Chief Accountant
"Special Рчrроsе Ваlапсе Sheet to Ье rеаd iп conjunction with Notes thеrеtо fоrmiпg ап iпtеgrаl part of the
Project special financial statements.
SPEClAL DESIGNATED ACCOUNT STATEMENT
fоr the period from January 01 ,2021 to ОсtоЬеr 14,2021
Account N9 2021 0840 7051 8,128 5008
Depositary Вапk SCB "lпFiпВапk "
Address Uzbekistan, 100084 Tashkent, Navoiy str, 18В
Туре of ассоuпt Designated Account
Credit No 6083-UZ
Сurrепсу USD
USD
Ва]апсе as ofJanuary 1,2021 748 483
Gash inflow:
Total
cash outflow
conversion iп uzs 435 700
Transfer of the Ьаlапсе of funds due to the closing of the
account 1312783
Totak 1 748 483
Ваlапсе as of October 14,2021 (date of account ciosure)
Signed for and оп behalf of Management оп Мау 10,2022
B,Kamalov
Director
l.Zubareva
Deputy Chief Accountant
Special Designated Account Statement to Ье rеаd iп conjunction with Notes thereto forming ап integral раrt of the Рюjесt
special financial statements.
SPEC|AL DESIGNATED ACCOUNT STATEMENT
for the period frоm June 23,2021 to December 31 ,2021
Account Ns 22626840 7054 0531 9002
Depositary Bank JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent, 1000В4, Uzbekistan
Туре of account Designated Account
Credit No 6083-UZ
Счrrепсу USD
UsD
Ваlапсе as of Jчпе 23,2021 ( date of account opening)
0
cash inflow:
Transfer of the Ьаlапсе of funds due to the орепiпg of the
accoUnt 1 312 78з
Tota] 1 312 783
cash outflow
conversion iп uzs 447 200
Total 447 200
Balance as of December 31, 2021 865 58з
Signed for and оп behalf of Management оп Мау 10,2022
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
fu,
Special Designated Account Statement to Ье rеаd in conjunction with Notes thereto forming ап integral раrt of the Project
special financial statements.
USD GONVERS|ON ACCOUNT STATEMENT
for the period from January 1,2021 to ОсtоЬеr 14,2021
Account Ns 2021 0000 9051 8128 5005
Depository Вапk JSCB "lNFlNBANK
Address 1ВВ, Navoi str., Tashkent, 100084, Uzbekistan
Сrеdit N960ВЗ-Uz
Сurrепсу UZS
UsD Uzs
Balance as ofJanuary 1,2021 6 978 72 996
cash inflow:
conversion iп uzs 435 700 4 582 653
Total 435 700 4 582 653
cash outflow
Paid to suppliers of goods and sеrчiсеs 324 908 з 415 279
Тrапsfеr to соrроrаtе plastic саrd 2 в00 29 391
Payment of salary апd mission expenses to саrd 74 997 789 9з0
Рауmепу of income tax 10 103 1 06 261
Deduction of pension Fund 85 893
Taxes fоr social charges 28 174 296 877
Рауmепу of staff salary against 5з1 5 596
Тrапsfеr of the Ьаlапсе of funds due to the closing of the
,1
accoUnt 080 11 421
Total 442678 4 655 649
Ваlапсе as of 14 October, 2021 ( date of account closing)
0
Signed fоr and on Мау 10,2022
B,Kamalov
Director
''-'
l.Zubareva fu
Depuý Chief Accountant
USD CONVERSlON ACCOUNT STATEMENT to Ье rеаd iп conjunction with Notes thereto forming ап integra| раrt of the Project
special financial statements.
USD CONVERSION ACCOUNT STATEMENT
for the реriоd frоm Juпе 23,2021 to DесеmЬеr 31,2021
Account Ne 2262 6000 0054 0531 9002
Depository Bank: JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent 100000, Uzbekistan
Credit: N96083-Uz
Сurrепсу: UzS
USD 000. Uzs
Balance as of June 23,2О2'| (date of account opening) 0 0
Gash inflow:
Тrапsfеr of the Ьаlапсе of funds due to the орепiпg of the account 1 080 11 421
сопчеrsiоп iп uzs 447 200 4 782 450
Return of previously paid funds to suppliers iп ассоrdапсе with the
reconciliation act 120 1 з00
Total 448 401 4795 171
cash outflow:
Paid to suppliers of goods and sеrviсеs 2,19 088 2349 442
Тrапsfеr to соrроrаtе plastic саrd 3 378 36 000
Рауmепt of salaries and travel missions (plastic card) 171 063 1 823299
Bank charges 226 2 400
Payment of iпсоmе taxes 22955 244 876
,166
Deductions fоr pension Fund 1 766
social taxes 24 300 259 354
Total 441 175 4717 137
Ваlапсе as of December 31,2021 7 225 78 034
Signed fоr and оп behalf of Managementon Мау 10,2022
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
USD CONVERSlON ACCOUNT STATEMENT to Ье read in conjunction with Notes thereto forming ап integral рагt of the Рrоjесt
special financial statements.
TENDER ACCOUNT STATEMENT
fоr the реriоd from January 1,2021 to October 14,2021
Account Ns 2021 0000 3051 в128 5001
Depository Bank JScB "|NFlNBANK
Address '18В, Navoi str., Tashkent, 100084, Uzbekistan
Credit N96083_Uz
Счrrепсу UzS
UsD 000uzs
Balance as ofJanuary 1,2021
342 3 583
cash inflow:
Total 0
Gash outflow
Paid to suppliers of goods and sеrчiсеs 81 852
Тrапsfеr of the Ьаlапсе of funds due to the closing of the
account 258 2731
Exchange rаtе difference 3
Total 342 3 583
Ваlапсе as of 14 October, 2021 ( date of ассочпt closing) 0
Signed for апd оп Мау 10,2022
В.Каmаlоч
Director
т,*р
l.Zubareva
Depuý Ghief Accountant
Тепdеr Account Statement to Ье rеаd in conjunction with Notes thereto fоrmiпg an integral part of the Project special
financial statements.
TENDER ACCOUNT STATEMENT
for the period from June 23, 2021 to DесеmЬеr 31,2021
Account Ns 2262 60001054 053,1 9003
Depository Bank JSCB "lпFiпВапk "
дddrеss 18В, Navoi str., Tashkent, '100084, Uzbekistan
Credit Ns6083-UZ
Сurrепсу UzS
UsD 000.UzS
Gash Ьаlапсе as of June 23,2021 (ассочпt орепiпg date)
0
Gash inflow:
Тrапsfеr ofthe Ьаlапсе offunds deu to the орепiпg ofthe
account 258 2 7з1
Total 258 2731
cash outflow:
Paid to suppliers of goods and services 1 7
Total 1 7
Cash balance as of December 31 2021 (account opening
date) 257 2725
Signed fоr and оп behalf of Management оп Мау 1О,2022
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
Tender Account Statement to Ье rеаd iп conjunction with Notes thereto forming ап integral раrt of the Project special
financial statements.
UZS PLASTIC CARD ACCOUNT STATEMENT
for the period frоm January 1, 2021 to Decembet 31, 2021
Account Ns 2262 0000 8054 0531 9006
Depository Bank: JSCB "lnFinBank "
Address 1ВВ, Navoi str., Tashkent, 100084, Uzbekistan
Credit: No 60B3-UZ
Сurrепсу: UzS
UsD 000 Uzs
Balance as ofJanuary 1,2021 0 2
cash inflow:
тrапsfеrrеd frоm uzs Account 1 446 15 299
Total 1 44в 15 299
cash outflow
Paid to suppliers of goods and sеrчiсеs 1 401 14 820
Total 1 401 14 820
Balance as of December 31, 2021 45 481
Signed fоr and on behalf of Management оп Мау 10,2022
B.Kamalov
Director
l,Zubareva 9И,-
Deputy Chief Accou ntant
UZS Plastic Card Account Statement to Ье rеаd iп conjunction with Notes thereto fоrmiпg ап integral раrt of the
Project special financial statements.
UZS PLASTIC CARD ACCOUNT STATEMENT
fоr the реriоd from Jапuаrу 1,2021 to December 31,2021
Ассочпt Ns 2262 0000 2054 0531 9003
Depository Bank: JSCB "lnFinBank "
,lBB, Navoi str,, Tashkent, 1000В4, Uzbekistan
Address
Credit: No 60B3-UZ
Счrrепсу: UzS
UsD 000 Uzs
Balance as of Jапчаry'1,2021 16 163
cash inflow:
тrапsfеrrеd frоm uzs Ассочпt 1
,1
15 11 800
Total 1 115 11 800
cash outflow:
,l1
Paid to suppliers of goods and services 1 074 35в
Total 1 074 1,1 358
Balance as of December 31, 2021
56 605
Signed fоr and оп behalf of Management on Мау 10,2022
B.Kamalov
Director
l.Zubareva
"UZS Plastic Саrd Account Statement to Ье read in conjunction with Notes thereto fоrmiпg ап
integral раrt of the Project special financial statements,
UZS PLASTIC CARD ACCOUNT STATEMENT
for the period from Jапuаrу 1,2021 to December 31,2021
Ассочпt Ne 2262 0000 0054 053,1 9007
Depository Bank: JSCB "lnFinBank "
Address 1ВВ, Navoi str., Tashkent,'t00084, Uzbekistan
Сrеdit: No 60B3-UZ
Сurrепсу: UZS
USD 000 UzS
Balance as of January 1,2021 29 301
cash inflow:
,1
тгапsfеrrеd from uzs Account 105 11 697
TotaI 1 105 11 697
cash outflow
,1
Paid to suppliers of goods and sеrчiсеs 06,1 11 214
,l 061 11 214
Total
Balance as of December 31 ,2021 73 783
Signed fог and on ton Мау 10,2022
B.Kamalov
Director
l.Zubareva ýи,-
Deputy Chief Accountant
"uzs plastic Сагd Account statement to Ье read iп conjunction with Notes thereto fоrmiпg ап integral part of
the Project special financial statements.
UZS PLASTIC CARD ACCOUNT STATEMENT
fоr the реriоd fгоm Jапuаrу 1,2021 to December 31 ,2021
Account Ne 2262 0000 4054 0531 9004
Depository Bank: JSCB "lпFiпВапk "
Address 1ВВ, Navoi str., Tashkent, 100084, Uzbekistan
Credit: No 6083-UZ
Счrrепсу: UzS
USD 000. UzS
Balance as ofJanuary 1,2021 46 479
cash inflow:
тrапsfеrrеd frоm uzs Account 1 185 12 548
Total 1 185 12 548
cash outflow
Paid to suppliers of goods and services 1 183 12 505
Total 1 183 12 505
Balance as of December 31, 2021 49 523
Signed for and оп behaIf of Management оп Мау 10, 2022
B.Kamalov
Director
l.Zubareva 2ffir,--
Deputy Ghief Ассочпtапt
UZS Plastic Саrd Account Statement to Ье read iп conjunction with Notes thereto forming ап integral раrt of the
Project special financial statements,
UZS PLASTIC CARD ACCOUNT STATEMENT
for the реriоd frоm January 1,2021 to DесеmЬеr 31,2021
Account Ns 2262 0000 6054 0531 9005
Depository Bank: JSCB "lпFiпВапk "
Address 18В, Navoistr., Tashkent, 1000В4, Uzbekistan
Credit: No 60B3-UZ
Счrrепсу: UZS ,
000. Uzs
Balance as of January 1,2021
25 258
cash inflow:
Transferred frоm uzs Account 1 326 14 047
Total 1 326 14 047
cash outflow
Paid to suppliers of goods and sеrчiсеs 1 336 14 146
Total 1 336 14 146
Balance as of December 31,2021 159
15
Signed fоr and оп behalf of Management on Мау 1О,2022
B.Kamalov
Wя
Director
l.Zubareva J%=-
Deputy Chief Accountant
UZS Plastic Саrd Account Statement to Ье read in conjunction with Notes thereto fоrmiпg an iпtеgrаl part of the
Project special fiпапсiаl statements.
"Fчпds of the RUz-FVWRMP/ICB1-2 Uzgidrotexnik" ACCOUNT STATEMENT
fог the реriоd from NочеmЬеr '1, 2021 to December 31,2О21
Account Ns 2340 2000 3001 0000 10,10
,100
Sерагаtе account 0,10 860 262 697 049 в0,1 170 025
Depository Вапk Тrеаsurу of the Мiпistrу of Finance
Address Uzbekistan, 1 000В4 Tashkent,
Credit No 6083-UZ
Сurrепсу UzS
USD 000 Uzs
Balance as of November 1, 2021 (date of
account opening)
Gash inflow:
Replenishment of funds 235 в84 2 526 316
Total 235 884 2 52в 316
Gash outflow
Paid to Сопtrасtог Uzgidrotexnik Ьу contract
Ruz-FVWRMPllCB1-2 235 884 2 526 316
Total 235 884 2 526 316
Balance аs of December 3'| ,202'| 0 0
Signed for апd оп behalf of Management оп Мау 10,2022
B.Kamalov
Director
].Zubareva
Deputy Chief Accountant
UZS Plastic Саrd Account Statement to Ье read iп conjunction with Notes thereto fоrmiпg ап iпtеgrаl раrt of the
Project special financial statements.
l
"Fч nds of the RUz-FVWRMP/!CB2-3 O'zmaxsussuvq urilish" AGCOUNT STATEM ENT
for the реriоd from NочеmЬеr '1, 2021 to December 31,2021
Account Ns 2340 2000 3001 0000 1010
,|70
Sераrаtе account 100 010 860 262 697 049 в01 027
Depository Bank Тrеаsчrу of the Ministry of Fiпапсе
Address Uzbekistan,'l 00084 Tashkent,
Credit No 60B3-UZ
Сurrепсу UzS
UsD 000 Uzs
Balance аs of November 1, 2021 (date of
account opening) 0
cash inflow:
Replenishment of funds 206 39в 2 210 526
Total 206 398 2210 526
Cash outf|ow:
Paid to Сопtrасtоr O'zmaxsussuvqurilish Ьу
сопtrасt Ruz-FVW RMP/l сВ2-3 206 39в 2210 526
Total 206 398 2210 526
Balance as of December 31, 2021
0
Signed for and оп beha|f of Management оп ltiay 1О,2О22
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
UZS Plastic Саrd Account Statement to Ье read iп conjunction with Notes thereto forming ап integral part of the
Project special financial statements.
"Funds of the RUz-FVWRMP/ICB3,3 T'opalang" ACCOUNT STATEMENT
for the period frоm November 1,2021 to December 31,2021
Account Ns 2340 2000 300,1 0000 1010
Sераrаtе ассочпt 100 010 860 262 697 049 801 170 026
Depository Bank Тrеаsчrу of the Ministry of Fiпапсе
Address Uzbekistan, 1 00084 Tashkent,
Сrеdit No 6083-UZ
Сurrепсу UZS
UsD 000. Uzs
Ваlапсе as of November 1, 2021 (date of account
opening)
cash inflow:
Replenishment of funds 294 855 3 157 в95
Total 294 855 3 157 895
Gash outflow
Paid to сопtrасtоr T'opalang Ьу contract RUz-
FVWRMP/lcB3-3 294 в55 3 157 в95
Total 294 855 3 157 895
Ваlапсе as of December 31, 2021 0
Signed for and оп behalf of Мау 10,2022
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
"UZS Plastic Card дссочпt Statement to Ье rеаd iп conjunction with Notes thereto forming ап integral раrt of the
Project special financial statements.
Fergana Valley Water Resources Мапаgеmепt Phase-2 Project
EU GRANT No. ТFоА9862
Summary of sочrсеs and uses of EU Grant funds
for the period from Jапuаry 01, 2021 to December 31, 2021
(Euro)
Actual
yеаr to date cumulative to date
sources of funds
EU Grant funds 360 000 1 360 000
,l
- specified account 359 888 359 776
- Direct oavments 112 224
Total 360 000 1 360 000
Project expenditures
[vorks,Goods,consultinq sеrчiсеs and Тrаiпiпq
Aqricultural intensification and diversification 0 0
mproved water Мапаqеmепt 814 052 814 052
cperatinq cost & plu staff 141 193 1 53 761
Total 955 245 967 813
Total proiect expenditure 955 245 967 813
xcess ol t<ecelpts очеr payments (595 245) 392 1 87
)pening Cash Balance
EU funds 987 432 п
Total 987 432 0
Net availbale cash 392 1 87 392 187
Closing CashBalance
EU funds 392 187 з92 1в7
Total 392 1 87 392 1 87
Exchanqe rate difference
Signed for and оп behalf of Management оп Мау 10,2022
В. Kamalov
Director
l. Zubareva
Deputy Ghief Accountant
"Summаrу of sources and uses of EU Grапt funds" separately to Ье rеаd iп conjunction with Notes thereto fоrmiпg ап iпtеgrаl
раrt of the Project special financial statements.
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Fеrgапа Valley Water Resources Management Phase-2 Project
GRANT No. ТFоА9862
Project special purpose financial reporting
SPEcIAL PURPoSE BALANCE SHEET AS оF DECEMBER 31,2021
(EURo)
Notes 31.12,2021 31,12.2020
ASSETS
Cash and cash equivalents з92 187 987 432
рrореrtч. plant and Equipment 0
proiect expenditure:
GRANT Funds 967 81з 12 568
Total expenditures 967 813 12 568
Gain (Loss) from foreign exchange differences
,l 000 000
TOTAL ASSETS 1 360 000
ACCUMULATED FUNDS
proiect financinq:
,1
GRANT Funds з60 000 1 000 000
Totalfinancjлg 1 360 1 000 000
Revaluation of the Рrореrtу, Plant and Equipment
TOTAL ACCUMULATED FUNDS 1 360 000 1 000 000
Signed fоr and оп behalf of Management on Мау 10,2О22
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
Special Рчrроsе Balance Sheet to Ье read iп conjunction with Notes thereto forming ап iпtеgrаl part of the Project
special financial statements.
EU GRANT ACCOUNT STATEMENT
for the period frоm January 1,2021 to July 14, 2021 года
Account Ns 2021 0978 6051 8128 5001
Depositary Bank JScB "MlcRocRED|TBANK"
Address 'l4, Lutfi street, Tashken, Uzbekistan
Туре of account Grапt
Grапt No ТFOА9862
Счrrепсу Euro
EUR
Balance as ofJanuary 1,2021
923 888
cash inflow:
Grant funds Replenishments
total
cash outflow:
Тrапsfеr of the Ьаlапсе of funds when closing ап account 923 888
Total 923 888
Ваlапсе аs of July 14,2021 (date of account closing)
0
Signed for and on behalf of Management оп Мау 10,2022
В. Kamalov
Director
l. Zubareva
Deputy Chief Accountant
EU Grant Account Statement to Ье read iп conjunction with Notes thereto forming ап integral раrt of the Project special
financial statements,
EU GRANT ACCOUNT STATEMENT
for the period from June 25,2021 to December 31 ,2022
Account Ns 22626978 1054 0531 9001
Depositary Bank JScB,MlcRocREDlTBANK,
Address 'l4, Lutfi street, Tashken, Uzbekistan
Туре of account Grant
Grant No ТFOА9862
Currency Ечrо
ЕUR
Ваlапсе as of June 25,2021 (date of account opening) 0
cash inflow:
Тrапsfеr of the balance of funds when орепiпg ап account 923 888
Тrапsfеr of funds to replenish the account 359 888
Total 1 283776
cash outflow:
conversion in uzs 945 000
Total 945 000
Ваlапсе as of December 31, 2021
338 776
Signed fоr and оп behalf Мау 10,2022
B.Kamalov
Director
' ''-
t.Zubareva ,{u'
Deputy Chief Accountant
"U Grапt Account Statement to Ье rеаd in conjunction with Notes thereto forming ап integral
раrt of the Project special
financial statements.
Grant Funds conversion Ассочпt statement
fоr the period frоm January 1,2021 to July ,l4, 202,1
Account Ns 2262 6000 0051 8128 5001
Depository Bank: JScB,M lcRocRED|TBANK"
Address 14, Lutfi street, Tashken, Uzbekistan
Туре of account Grant
Grant: No ТFOА9862
Счrrепсу: EURo/UzS
ЕUR 000 Uzs
Ваlапсе as ofJanuary 1,2021 63 544 793726
cash inflow:
Total 0 0
cash outflow:
Payment of salary and public utilities expenses to card 14 227 177 704
Bank charges 241 3 005
Payment of iпсоmе tax 1 891 23 619
Deductions for pension Fund ,|6
198
Taxes for social charges 3 972 49 619
Тrапsfеr of the Ьаlапсе of funds whеп closing the account 43 197 539 580
Total 63 544 793 72в
Ваlапсе as of July 14,2021 (date of account closing) 0 0
Signed for and оп behalf of Management оп Мау 10,2022
B,Kamalov
Director
l.Zubareva
Grапt Funds Conversion Account Statement to Ье rеаd in conjunction with Notes there to forming ап integral раrt of the Рюjесt
special financial statements.
Grant Funds Gопчеrsiоп Account Statement
for the period frоm June 25,2021 to DесеmЬеr 31,2021
Account Ns 2262 6000 9054 053,1 9001
Dероsitоrу Вапk: JScB "MlcRocRED|TBANK"
Address 14, Lutfi street, Tashken, Uzbekistan
Туре of account Grant
Grапt: No ТFоА9862
Сurrепсу: UZS
EUR 000 UzS
Balance as of June 25,2021 (date of account opening)
Gash inflow:
Transfer of the Ьаlапсе of funds whеп орепiпg the account 43 197 539 580
сопчеrsiоп iп uzs 945 000 1 1 530 550
Tota1 988 197 12 070 130
cash outflow:
Payment of goods and services 776 732 9 471 022
Рауmепt of staff loans 760 9 404
Payment of salary and public utilities expenses to card 120 471 1 488235
Bank charges 4 037 49 231
,tб 200 555
Payment of iпсоmе tax 239
Deductions for pension Fund 136 1 685
Taxes for social charges 16 410 202 660
Total 934 786 11 422792
Ваlапсе as of December 31,2021 53 411 647 338
Signed for and оп behalf of Management on Мау 10,2022
B.Kamalov
Director
l.Zubareva
Deputy Chief Accountant
Grапt Funds Сопчеrsiоп Account Statement to Ье rеаd in conjunction with Notes there to fогmiпg ап iпtеgrаl рагt of the Рrоjесt
special financial statements.
,,FERGANA VALLEY WATER RESOURCES MANAGEMENT PROJECT PHASE 2"
lDA CREDIT No.6083-UZ/EU Grant No.TFOA9862
Narrative note to the Project Financial Statements
as of 31't December 202{ and overall period оп the date
1. Project background
The Republic of Uzbekistan has received fiпапсiпg frоm lпtегпаtiопаl Development Association (hereinafter -
lDД) toward the cost of Fеrgапа Valley Water Rеsочrсеs Management Project Phase-2.
The fiпqпсе wqs allocated iп ассогdа,псе with:
. The Fiпапсiпg Аgrееmепt between the Republic of Uzbekistan and lDA (lDA Credit No.6083-UZ) signed оп
the 2OthSeptember 2017, The ргоjесt Effectiveness Day is 29'ПDесеmЬеr 2017. The ргоjесt Closing Date is
31'tAugust 2024,
о between the Republic of uzbekistan апd lпtеrпаtiопаl Development Association (hereinafter lDA) acting as
the administrator of the Рrоgrаm Trust Fчпd of опе dопоr of the Ечrореап Commission-World Bank
Раrtпеrshiр Рrоgrаm, the Grant Аgгееmепt of the Еurореап Uпiоп (hereinafter the EU Grant) - EU Grant
,13'n
Nо.ТFОд9В62 dated Арril 20,19. The Closing date is 2В"' FеЬruаrу 2024 между.
Дссоrdiпg to the Presidential Dесrее dated 16thSeptember 20'17 No,PP-3282 "On Measures fоr lmplementation
of the Wb-supported Fеrgапа Valley Wаtеr Rеsочrсеs Management Project Phase-2", the Ministry of Water
Rеsочrсеs ol the Republic of Uzbekistan (hеrеiпаftеr - MWR) is the Executing Аgепсу responsible fоr the
project implementation, targeted and efficient use of the Credit рrосееds, and fоr achieving of all Project tаrgеt
indicators.
The mаiп obiectiyes of the proiect аrе:
(i) Rehabilitation of the irrigation systems;
(ii) lmрrочеmепt of water rеSочrсеs management methods iп the Project аrеа оп а sound and financially
efficient basis.
The mаiп objectives of the Project аrе expected to Ье achieved through implementation of the following
components:
The total project cost is $US 22S.21 million, including $US S3.3 million as а contribution of the GOU, including
$US36.9 million as the tax and customs duties exemptions. The Credit principal and interests аrе repaid Ьу the
Ministry of Fiпапсе of the Republic of Uzbekistan (МОF) frоm the budget. Fоr additional financing of the Project,
the EU Grапt was attracted iп the amount of 9.950 million Еurо,
The Project fiпапсiпо pla,n is shown belqw:
i-----
. Sources of financing USD Euro
lDA credit 144 900 000
Gou сопtriьutiоп 83 314 7в0
EU Grant 9 950 000
Tota! 228 214780 9 950 000
The lDA сrеdit is expected to сочеr the following cost items:
1-"---------------""'-
l Percentage of
Category j lDA Credit (USD) expenditures to Ье
financed
lting ёеrчiёёs, ёопsultiпg sёivicbs, Тrаiпiпg
144 900 000 100%
Costs
Total .144
900 000
The GOU сопtriЬчtiоп is expected to сочеr the following cost items:
Percentage of
Category GOU share (USD) expenditures to Ье
financed
civilworks 26 305 500
,1
Miscellaneous costs 800 000
100%
Г[91сl9t chaloeg duflng inygglme$ pe!]gd ТБ'йсБао-
тах and customs benefits 36 965 450
Total 83 314 780
The EU Grапt is expected to сочег the following cost items:
EU Grant
of
Percentage of i
Category expenditures to Ье
(Euro) ;
fina_pced (%) _l
Works, Goods, Non-Consulting services, Consulting Sеrчiсеs, Тrаiпiпg 9 950 000
and Additional ооегаtiопаl costs
Total 9 950 000
'oo,u' --,,i
,,,
2. Accounting policy
The Ргоjесt Special Fiпапсiаl Statements have been рrераrеd iп ассоrdапсе with the lпtеrпаtiопаl Public
Sector дссоuпtiпg Standards (hеrеiпаftеr - IPSAS) issued Ьу the lnternational Accounting Stапdаrds Board iП
public sector of the lnternational Fеdеrаtiоп of Accountants, based оп the cash method and relevant
recommendations of the wоrld Bank.
2.1. Fiпапсiпg
Fiпапсiпg of the Project is rесоgпizеd whеп payments to the suppliers of tangible (i.e. "material") rеsоurсеs оr
fоr sегчiсеs аrе made Ьу lDA (рrосеdurеs: "Direct Payment", "WB Special Commitment").
Financing оп the Project Designated and Grапt Accounts is recognized when the proceeds are trапsfеrrеd frоm
the lDд Сrеdit ассоuпt and EU Grапt account administered Ьу lDA to the Рrоjесt Designated and Grant
Accounts using the advance method.
Fiпапсiпg оп the GOU contribution is recognized whеп the рrосееds аrе transferred frоm the accounts of the
Мiпistrу of Fiпапсе of the Republic of Uzbekistan to the Budget Account established at the Тrеаsчrу Office of
the Мiпistrу of Fiпапсе of the Republic of Uzbekistan.
2.2. Expenditures
The Ргоjесt expenditures аге recognized and rероrtеd in the Financial Statements рrераrеd оп the cash basis
when:
account (рrосеduгеs: "Direct Payment", "WB Special Commitment") оr from the Designated, Grапt and
other Accounts of the Project;
Ьапk interests fгоm the Designated, Grant and оthеr Accounts of the Ргоjесt.
2.3. Сurrепсу of Fiпапсiаl Sfafemenfs апd Fоrеigп Ехсhапgе Policy
Сurrепсiеs of the Ргоjесt Fiпапсiаl Statements аrе United States Dollar (USD) fоr the Credit рrосееds, and
Еurо fоr Grапt рrосееds.
lп рrераrаtiоп of the Рrоjесt Fiпапсiаl Statements the following foreign exchange policy was applied:
States Dollars at the exchange rate effective оп the date of replenishment оr раrtiсulаr expenditures;
effective оп the date of USD сопчеrsiоп into UZS;
lDA-financed expenditures made frоm the Project foreign счrrепсу account оthеr than USD аrе
converted into the united states Dollars at the rate of the |пtеrпаtiопеl fоrех trade effective on the date
of transaction.
EU Grant-financed expenditures iп nationa| сurrепсу аrе converted into Еurо at the rаtе effective оп the
date of Ечrо сопчеrsiоп into uzs.
The Ьаlапсе оп the Project accounts аrе revalued at the last exchange rаtе effective as of the rероrtiпg date.
3. Project Fiпапсiаl Statements Submitted оп lDA-Financed Expenditures (Gredit-6083-UZ)
Project Fiпапсiаl Statements for the reporting period have Ьееп рrераrеd iп accordance with the WB's
Guidelines "Reports оп Financial Monitoring of Projects Financed Ьу the Wоrld Bank" and include аs follows:
3.1. Fiпапсiаlstаfеmепf оп sources апd uses of fuпds showing the World Вапk апd counterpart
fuпds separately
During the rероrtiпg реriоd, the Project expenditures have Ьееп financed using the funds of lDA, GOU and
оthеr financing sources.
The total lDA financing amount is $US '1В,205,760.
The total GOU financing amount is $US 73Т,137,
дlsо, the Project received other proceeds (payback of previously paid advance). Such proceeds wеrе used to
рау оthеr expenditures.
Dчriпg the rероrtiпg period, the Project total financing аmочпt was $US 18,943,017.
Fiпапсiпg and expenditures related to the pensions, preparation of the bidding documents and miscellaneous
costs аrё included iп the Financial statement оп sources and uses of Funds showing the world Bank and
сочпtеrраrt Funds separately, but they wеrе not геflесtеd in the Detailed statement of Expenditures siпсе
these аrе поt direct Project sоurсеs/ expenditures.
Duriпg the rероrtiпg реriоd, cumulative total Project expenditures аrе $US '19,В25,630, including:
3.2. Detailed Sfafemenf of Expenditures Ьу project componenfs апd suЬсоmропепfs
This Statement details:(i) ехрепdituгеs iп the rероrtiпg period with а breakdown Ьу the Project components and
subcomponents, (ii) Project budget in the rероrtiпg period and (iii) deviation of actual expenditures against the
scheduled ones. Fоr the rерогtiпg реriоd, the Project budget was prepared ассоrdiпg to the schedule of Project
activities and PlU operating costs аррrочеd Ьу the Ministry of Wаtеr Resources (MWR) of Uzbekistan.
This Statement includes the iпfоrmаtiоп оп ехрепditчrеs опlу directly rеlаtеd to the Рrоjесt. Ехрепditurеs оп
репsiоп, bidding documents and miscellaneous costs wеrе not included.
3.3. USD Deslgrnated Дссоuпt апd lDД Proceeds Сопуеrsiоп Дссоuпt
Fоr financing of eligible lDA expenditures (Credit-6083-UZ), the following Рrоjесt accounts wеrе established at
opERU "lNFlNВДNК" JSC: Designated Account (DA) in USD and account fоr conversion of the lDA proceeds
into UZS.
Дftеr establishment of the Сепtеr, on 23'd June 2О2'1 the proceeds from the accounts of the lmplementation Unit
of the Wоrld Вапk Projects (PlU WB) have Ьееп trапsfеrrеd to the Center's accounts established at OPERU
"lNFlNВДNК" JSC: JSC: Designated Account (DA) in USD and account for conversion of the lDA рrосееds into
UZS.
USD Designated ассочпt is used for сопчеrsiоп of USD into UZS оr апу other счrrепсу as specified iп the
signed contracts, and to сочеr the iпtеrпаtiопаl travel expenditures, payment to suppliers of the goods and
services, fees for the individual iпtеrпаtiопаl consultants.
Account for USD сопчеrsiоп from the lDA Designated account into UZS is used fог payment to the national
suppliers iп ассоrdапсе with the expenditure categories, payment for the Project staff's salaries and individual
national consultants, payment of taxes withheld at the source of payment, local travel and bank interests.
3.4. Other ассоuпts
Also, the Project established Sесопdаrу deposit UZS account at OPERU "INFINBANK JSC used to rесеiче the
ргосееds frоm sаlе of the bidding documents.
The Project maintains five соrроrаtе UZS plastic cards of OPERU "INFINBANK JSC fоr payment of local trаvеl
expenditures and fuel costs.
UZS accounts established at the Тrеаsurу office of the Мiпistrу of Fiпапсе of Uzbekistan аrе used for GOU
' financing of the following contracts: FVWRMP/lCB1-2 <Uzgidrotexnik>, FVWRMP/ICB2-3
KO'zmaxsussuvqurilish), FVWR[\ЛР/lСВ3,3 KT'opalang>.
3.6. SOE withdrawal schedule - lDд Credit
This Statement includes the information оп expenditures categories used frоm lDA Credit account according to
the SoE for the уеаr ended 31't December 2О21. The SOE detail the expenditures frоm the Project Designated
ассоuпt and submitted to lDA fоr replenishment during the rероrtiпg регiоd.
3.7. Rесопсiliаtiоп statement for replenished апd recovered SOE disbursements - lDД Credit
Reconciliation statement fоr replenished and recovered SOE disbursements reflects the information on total
ехрепditurеs чпdеr SOE рrосеdurеs indicting amounts replenished frоm deposit.
3.8. Direct рауmелfs schedule - lDA Credit
This Statement shows the ргосееdsл.Ьу categories withdrawn frоm lDA Credit Account under the Dirесt РаУmеПt
ргосеdчrе fоr the уеаr ended оп 31"'DесеmЬеr 2021.
3.9. Speca/ Ьаlапсе sheef
- The submitted special Ваlапсе sheet was compiled using the cash method iп usD and contains the
iпfоrmаtiоп on the Project proceeds:
documents) and rе-чаluеd fixed assets purchased чпdеr the Project.
- The indicator "cash" includes the cash Ьаlапсе оп all project accounts as of the end of the rероrtiпg period.
The indicator "Fixed assets" includes fixed assets purchased under the project at fair (re-valued) cost as of the
1 end of rероrtiпg реriоd. Fоr the purposes of this financial statement, Fixed assets аrе поt depreciated.
The indicator "Project ехрепditчгеs" includes total expenditures related to the Project implementation and
iпсurrеd frоm all financing sоurсеs.
The iпdiсаtоr "Revaluation of fixed assets" includes amount of fixed assets rечаlчаtiоп as of Jапuаrу '1 (rеfеr to
Note No.6). дs of 31't December 2021, the fixed assets wеrе not гечаluаtеd iп ассоrdапсе with prevai|ing
- legislation of the Republic of Uzbekistan.
4. Financial Statements Submitted оп EU Grant (Grant TFOA9862-UZ)
] project Fiпапсiаl Statements fоr the rероrtiпg реriоd have been рrераrеd iп ассоrdапсе with the WB's
Guidelines "Reports оп Fiпапсiаl Monitoring of рrоjесts Fiпапсеd Ьу the World Bank" and include as follows:
ц 4.1. Fiпапсiаl Sfafemenf ол Sources апd Use of EU Grant Proceeds
l During the rероrtiпg реriоd, the project expenditures using Eu Grant funds have been financed iп Еurо.
1
> During the reporting реriоd, the total expenditures amounted to 955,245 Ечrо,
_ 4.2. Detailed Sfаfеmелf of use of fuпds Ьу Project соmролепts апd suЬсоmролелfs
This Statement details:(i) expenditures in the rероrtiпg period with а breakdown Ьу the Pro.iect соmропепts and
subcomponents, (ii) Project budget fоr the reporting period апd (iii) deviation of actual expendituгes against the
scheduled ones. Fоr the rероrtiпg реriоd, the Project budget was prepared ассоrdiпg to the Рrосчrеmепt Рlап
This Statement includes the information on expenditures опlу diгесtlу related to the соmропепt financed Ьу EU
-,? Grant.
4.3. EU Grапt дссоuпt iп Euro апd Grапt Fuпds Сопчеrsiоп дссочпt
-1 The Рrоjесt established the fo|lowing accounts at "Mikrokredit Вапk" for financing of eligible expenditures using
] Гu Grапt (Grапt-ТFОА9862): EU Grant Account in Ечго, апd account fоr сопчеrsiоп of EU Grапt funds into
UZS. After establishment of Сепtеr, the ргосееds frоm the accounts of the P|U WB have Ьееп trапsfеrrеd to the
following newly established accounts at "МikrоkrеditЬапk": EU Grant Account iп Еurо, and account fоr
сопчеrsiоп of Eu Grапt funds into uzs.
4.4. SOE withdrawal schedule - EU Grant
This Statement includes the iпfоrmаtiоп оп expenditures categories used frоm EU Grапt account according to
the SOE fоr the уеаr ended оп 31't December 2021. The SOE detail the expenditures frоm the Project
Designated account and submitted to lDA for replenishment during the reporting реriоd.
4.5. Reconciliation sfafement for replenished апd recovered SOE dЬЬиrsеmепts - EU Grant
Reconciliation statement for replenished and rесочеrеd SOE disbursements reflects the information on total
expenditures under SOE рrосеdurеs indicting amounts replenished frоm deposit.
4.6. Specla/ Ьаlапсе sheet
The submitted Special Balance Sheet was compiled using the cash method iп Ечrо and contains the
information оп the Project proceeds:
The indicator "cash" includes the cash Ьаlапсе оп the Eu Grапt account and Grапt Funds Сопчеrsiоп Ассочпt
as of the end of the reporting реriоd and intended for 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
Shaykhantahur District of Tashkbnt city No.564 dated 21't May 20О1.
Ассоrdiпg to the Presidential Dесrее No,PP-2506 dated 1Oth Маrсh 2016 and the MAWR's Оrdеr No,52 dated
13th Магсh 20,16, the PlU's Statute has Ьееп revised and then approved Ьу the MAWR's Оrdеr No.93 dated
31"t Мау 2016 and registered Ьу the Resolution of the Khokim of Shaykhantahur District of Tashkent city No.R-
09-оl6d1 dated 1Oth June 2016.
lп ассоrdапсе with the Presidential Dесrее No.UP-5134 dated 04th August 20'l7 "Оп Measures for Fundamental
lmprovements of Activities of the Ministry of Agriculture and Water Resources of the Republic of Uzbekistan",
the Presidential Resolution No.PP-3172 dated 04th August 2О17 "Оп Меаsчrеs fоr Fчrthеr lmprovements of
Activities of the Мiпistrу of Agriculture and Water Resources of the Republic of Uzbekistan" the Centre's Statute
has Ьееп rечisеd and approved bythe MAWR's Оrdеr No.249 dated 06'n September 2017, and registered Ьу
Resolution of the Khokim of Shaykhantahur District of Tashkent city No.09-01691 dated 15'n Decemb ег 2017 ,
Ассоrdiпg to the Рrеsidепtiаl Dесrее No.UP-5418 dated 17th April 2О18 and the Resolutions of the СОМ No.940
and No.241 dated 21St NочеmЬеr 201В and 22nd March 2019, respectively, оп 26th Маrсh 2019 the Сепtrе for
lmplementation of lnvestment Projects iп Аgriсulturе and Wаtеr Rеsочrсеs Sесtоr was liquidated due to mеrgе
with the Rчrа| Restructuring Аgепсу and establishment of the Аgепсу fоr lmplementation of Projects in the Field
of Agroindustry and Food Security, The latter is а legal successor of the Rural Restructuring Agency and the
Сепtrе fоr lmplementation of lnvestment Projects iп Agriculture and Water Resources Sесtоr iп terms of their
rights, liabilities and contractual obligations.
Ассоrdiпg to the Ргеsidепtiаl Dесrее No. РР-44Вб dated gth October 2019 "Оп Меаsuгеs fоr Fчrthеr
lmprovement of Water Management System" and the Resolution of the Cabinet of Ministers of the Republic of
Uzbekistan No. 45 dated 29th Jапчаrу 2020 "Оп Establishment of the Agency for lmplementation of Wаtеr
Sector Projects uпdеr the Мiпistrу of Wаtеr Resources of the Republic of Uzbekistan", оп 12'n FеЬruаrу 2020
the lmрlеmепtаtiоп Unit of the World Bank's Projects was established rеsропsiЬlе fоr implementation of
Fеrghапа Valley Wаtеr Resources Management Project - Phase ll". The PlU WB is а legal sчссеssоr of the
Agency fоr lmplementation of Projects iп the Field of Agroindustry and Food Security iп terms of all rights and
obligations чпdеr the аЬоче Project.
lп accordance with the Presidential Dесrее dated бtn April 2021 No. РР-5055 "On mеаsurеs for Furthеr
lmрrочеmепt of Activities of the Ministry of Wаtеr Resources of the Republic of Uzbekistan", the struсtчrе of the
Center fоr lmplementation of Fоrеigп lnvestment Projects iп Water Sесtоr (the Сепtеr) was approved. The
...]
Сепtеr is а legal suссеssоr of the lmplementation Unit of the World Bank Projects iп terms of the rights,
liabilities and сопtrасtчаl obligations.
According to the Credit Agreement and EU Grant Аgrееmепt, lDA has allocated the funds fоr сочеriпg of 100%
of taxes withheld at the sоurсе of payment (social сопtriЬutiопs, income tax for Uzbek residents and поп-
residents, customs duties),
According to the Presidential Resolution No.PP-3282 dated 16th September 20'|7 "Оп Меаsurеs for
lmplementation of Fеrghапа Valley Wаtеr Resources Management Project - Phase ll", duriпg the project
implementation period:
exempted from customs payments (except fоr customs duties), value added tax, as well as mапdаtоrу
payments and fees to state trust funds;
payment of income tax.
The amount rеIеаsеd 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 whеп purchased or rесеiчеd fоr the efficient implementation of the Project are accounted iп the
cost items. Fоr the рчrроsеs of this financial statement, fixed assets аrе not depreciated and accounted at the
fаir (re-valued) cost.
The Project fixed assets include fixed assets purchased fоr орегаtiпg needs. Со_пtrоl of the safety of used fixed
assets is саrriеd out Ьу аппчаl iпчепtогу, The last iпчепtоrу was саггiеd out оп 1'' December 2021 ,
The fixed assets movement in the rероrtiпg реriоd is shown iп table below:
uпitеd sfafes Dollars
йi;й; Ёof lncreased Revalued
01.01.2021
i vehicles 59 059 0 0 0 59 059
i Соmрutеr equipment 9 744 0 0 0 9 744
*----6ё
i Total ---Бs ý0i 0 0 0 sоi.
7. Reconciliation of lDA funds disbursement (Credit-6083-UZ)
l Дs of 31"tDесеmЬеr 2О21, по deviations аrе found iп reconciliation of the Client Соппесtiоп payments with the
PlU рrоjесt financial statement data:
Uл if ed S faf"es D_o {|"а_19
*
cIient Соппесtiоп Сепtеr Deviations
I lDA 4r,9;5;0iв ss 42,945,01в.вв 0
8. Reconciliation of EU Grant funds disbursement (Grant ТF OA9862-UZ)
As of 31't December 2О21, по deviations аrе found iп rесопсiliаtiоп of the Client Соппесtiоп payments with the
PlU project financial statement data:
Еurо
т'"-'",
!
I
!
client Соппесtiоп Сепtеr Deviations ,,,,,,,,]
i lDA ,,,,,,
1 360 000 1 360 000 0