PKF MAK ALYANS LLC Accountants & business advisors WORLD BANK ECAPDEV PROJECT PREPARATION GRANT for the proposed PROSPEROUS VILLAGES (OBOD QLSHLOQ) PROJECT (PROJECT IMPLEMENTATION UNIT) MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN (RECIPIENT) MULTI-DONOR PROGRAMMATIC TRUST FUND GRANT FOR EUROPE AND CENTRAL ASIA REGION CAPACITY DEVELOPMENT No.TFOA9749 SPECIAL-PURPOSE CASH BASIS FINANCIAL STATEMENTS AND STATEMENTS OF EXPENDITURES FOR THE PERIOD FROM APRIL 13, 2019 TO JULY 21, 2020 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT IN UZBEKISTAN TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT'S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE SPECIAL-PURPOSE FINANCIAL STATEMENTS FOR THE PERIOD ENDED JULY 21, 2020 3 INDEPENDENT AUDITORS' REPORT 4 ECAPDEV TRUST FUND GRANT SPECIAL PURPOSE FINANCIAL STATEMENTS FOR THE PERIOD ENDED JULY 21, 2020: Special-Purpose Statement of Cash Receipts and Payments 6 Special-Purpose Statement of Financial Position 7 Special-Purpose Statement of Detailed Costs by Categories 8 Notes to Special-Purpose Financial Statements 9-16 2 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT STATEMENT OF MANAGEMENT'S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE SPECIAL PURPOSE FINANCIAL STATEMENTS FOR PERIOD ENDED 21 JULY 2020 The Management of the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan (hereinafter - "MoEDP") is responsible for the preparation of the Special-Purpose Financial Statements (hereinafter - 'Financial Statements") of the ECAPDEV Project Preparation Grant for the proposed "Prosperous Villages (Obod Qishicq) Project" (hereinafter - the "Project") funded by the World Bank under the Multi-Donor Programmatic Trust Fund for Europe and Central Asia Region Capacity Development (hereinafter -"ECAPDEV") that present fairly the financial position of the Project as of 21 July 2020, and the funds received, and expenditures incurred for the period from 13 April 2019 (Effectiveness Date) to 21 July 2020, in compliance with International Public Sector Accounting Standards "Financial Reporting under the Cash Basis of Accounting" (hereinafter - "[PSAS-Cash Basis"). In preparing the Financal Statements, the management of the MoEDP is responsible for: * Selecting suitable accounting policies and applying them consistently; * Presenting information, including accounting policies, in a manner that provides relevant, reliable, comparable, and understandable information; * Providing additional disclosures when compliance with the specific requirements in IPSAS-Cash Basis are insufficient to enable users to understand the impact of particular transactions, other events, and conditions on the Project's Special-Purpose Financial Statements. The Management of the MoEDP is also responsible for: * Designing, implementing and maintaining an effective and sound system of internal controls, throughout the Project; * Maintaining adequate accounting records that are sufficient to show and explain the Project's transactions and disclose with reasonable accuracy at any time the fund balance of the Project, and which enable them to ensure that the Financial Statements of the Project comply with specific requirements in IPSAS-Cash Basis; * Maintaining statutory accounting records in compliance with legislation of the Republic of Uzbekistan; and * Preventing and detecting fraud and other irregularities. The Financial Statements of the Project for the period from 13 April 2019 to 21 July 2020 were authorized for issue by the MoEDP's Management on 21 August 2020. On behalf of the MoEDP's Management: okt .0. Ubaydullayev ire Financial Management Specialist 3 PKF MAK ALYANS LLC Accountants & business advisors INDEPENDENT AUDITOR'S REPORT To the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan Opinion \Ne have audited the Special-Purpose Financial Statements (hereinafter - the "SPFS") of the ECAPDEV Project Preparation Grant for the proposed "Prosperous Villages (Obod Qishloq) Project" (hereinafter - the "Project") under the Multi-Donor Programmatic Trust Fund for Europe and Central Asia Region Capacity Development (hereinafter - "ECAPDEV") financed from Grant proceeds of the International Development Association ("World Bank"), acting as administrator of the ECAPDEV Project Preparation Grant, Letter Agreement No.TFOA9749 which comprise the Special-purpose Statement of Cash Receipts and Payments for the period from 13 April 2019 (Effectiveness Date) to 21 July 2020, the Statement of Expenditures (hereinafter - the "SOE"), the Statement of Designated Account (hereinafter - the "DA") and a summary of significant accounting policies and explanatory notes. The SPFS have been prepared by management of the Project using the International Public Sector Accounting Standards "Financial Reporting under the Cash Basis of Accounting" (hereinafter - 'IPSAS - Cash Basis"). In our opinion, I. The accompanying Special-Purpose Cash Basis Financial Statements, in all material respects, give a true and fair view of the Financial Position of the Project as of 21 July 2020, as well as Sources and Uses of Grant Proceeds, Designated Accounts movements and outstanding balances for the period then ended, in all aspects comply with the conditions of the Letter Agreement and in accordance with International Public Sector Accounting Standard; II. Moreover, (a) with respect to the SOE for the period from 13 April 2019 to 21 July 2020, adequate supporting documents, records and accounts have been maintained to support claims to the World Bank for reimbursements of expenditures incurred, and (b) the expenditures included in the withdrawal applications and reimbursed against are eligible for financing under the Grant Agreement. lh. The Designated Accounts statement for the per]od from 13 April 2019 to 21 July 2020, give a true and fair view of the Financial Position of the DA of the Project and of the cash flow for the periods then ended. Basis for Opinion We conducted our audit in accordance with the International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Project ln accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants ("lESBA Code') together with the ethical requirements that are relevant to our audit of the SPFSs in the Republic of Uzbekistan and we have fulfilled our other responsibilities under these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Special-Purpose Financial Statements The Management of the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan ("MoEDP") is responsible for the preparation and fair presentation of these SPFSs in accordance with the IPSAS - Cash basis, and for such internal control as management determines is necessary to enable the preparation of SPFSs that are free from material misstatement, whether due to fraud or error. Tel: +99871 294-73-86 * Fax: +99871 294-73-85 - info@pkf.uz - www.pkf uz * www,pkf.com PKF MAK ALYANS LLC - 22, Aviasoziar street- 1 passage - Tashkent, Uzbekistan * 100016 ISO 9001:2008 PKF MAK ALYANS LLC ls a member firm of the PKF international Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. Cert. No: QMS-00741A Auditor's Responsibility for the Audit of the Special-Purpose Financial Statements Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or taken together, they could reasonably be expected to influence the economic decisions of users taken based on these Financial Statements. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Project's internal control, * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Conclude on the appropriateness of management'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 auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Project to cease to continue as a going concern. * Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance 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. IkromjorfUrinbaev Ikromjon Urinbaev General Director Qualified Auditor Certificate of Auditor Qualification under No.04383 dated 10 July 2012 Audit Organization "PKF MAK ALYANS LLC" 22, Aviasozlar Street, lst Passage 100016, Tashkent, Uzbekistan 5 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT SPECIAL-PURPOSE STATEMENT OF CASH RECEIPTS AND PAYMENTS FOR PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 21.07. 2020 31.12. 2019 13,04.2019-21.07.2020 Budget Actual Actual Cumulative % Amount Opening Fund Balances Cash in USD - 41260 - Cash in UZS (USD equivalent) - 1-- Corporate Card in UZS (USD equivalent) 38 - Total - 41299 - - Sources of Funds: Funds Received ECAPDEV Trust Fund Grant - Direct Payments - ECAPDEV Trust Fund Grant - Initial Advance - - 50000 50000 ECAPDEV Trust Fund Grant - Disbursements t 39066 98158 137 224 TOTAL OF FUNDS RECEIVED 187 500 39 066 148 158 187 224 99.85% Uses of Funds: Expenditure Incurred C1 - ConsLlting services, nclucing audit (133250) (58 491) (95 809) (154300) 115.80% C2 - Tranings (17 750) - (3211) (3211) 18.0 C3 -Incremental Operating costs 17750) (3 132) (7838) (10971) 61.81 % C4 - Goods (18750) (18742) - (18742) 99.96% TOTAL EXPENDITURE INCURRED 187 500 80 366 106 858 187 224) 9985% FX Exchange Gainl/(Loss) I--I_____I____ _____ Closing Fund Balances Cash in USD - 41260 - Cash in UZS (USD equivalent) - 1 - Corporate Card n UZS (USD equivalent) - 38 Total - - 41299 Signed on behalf of the MoEDP's Management on 21 August 2020 7 -a 0. Ubaydullayev roject Financial Management Specialist kWl'tA -" Notes on pages 9 to 16 form an integral part of the Special-Purpose Cash Basis Financial Statements 6 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT SPECIAL-PURPOSE STATEMENT OF FINANCIAL POSITION AS AT 21 JULY 2020 Amounts are presented in US Dollars Items Note Periods 21.07.2020 31.12.2019 ASSETS Cash and cash equivalents - 41 299 TOTAL ASSETS - 41299 OWN FUNDSIFINANCING IDA Financing (ECAPDEV TF Grant) 187224 148 158 Less: Cumulative expenditure, including FX difference (187 224) (106 858) TOTAL OWN FUNDSIFINANCING - 41 299 igned on behalf of the MoEDP's Management on 21 August 2020 ": )v~~ 0. Ubaydullayev roject - Financial Management Specialist Notes on pages 9 to 16 form an integral part of the Special-Purpose Cash Basis Financial Statements. 7 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT SPECIAL-PURPOSE STATEMENT OF DETAILED COSTS FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars Categories Actual Budget Variance unused) 21.07.2020 Cumulative Cumulative 21.07.2020 Cumulative Category 1: Consulting services, including audit 1.1. Consulting services - 54 829 1.2, Consultants, PIU staff salaries 54446 95426 154568 268 1.3. Fnancial Audit 4045 4045 Sub-Total 58491 154300 15468 - Category 2: Trainings 2.1. Trainings - 3211 3211 - - Sub-Total 3211 3211 -- Category 3: Incremental Operating costs 3.1. Incremental Operating costs 3 120 10906 10 971 13 65- 3.2. Intermediary bank commissions Sub-Total 3133 10971 10971 - - Category 4: Goods 4.1. Computer equipment 18742 18742 18750 - 8 Sub-Total 18742 18742 18750 - 8 TOTAL ECAPDEV TRUST FUND 80366 187224 187500 276 GRANT EXPENDITURE Signed on behalf of the MoEDP's Management on 21 August 2020 rkv0. Ubaydullayev rojet Financial Management Specialist Notes on pages 9 to 16 form an integral part of the Special-Purpose Cash Basts Financial Statements. 8 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 1 PROJECT AND ITS OPERATIONS The Republic of Uzbekistan has received The Project Preparation Grant for the proposed Prosperous Villages (Obod Qishloq) (hereinafter - "PVOQ") Project (Grant No. TF0A9749) from the International Development Association, acting as administrator of Grant funds provided by various donors under the Multi-Donor Programmatic Trust Fund for Europe and Central Asia Region Capacity Development (hereinafter - "ECAPDEV"), in the amount of USD 187,500 (One hundred eighty-seven thousand and five hundred) United States Dollars was approved and became effective on April 13, 2019 in line with the Letter Agreement between IDA and Republic of Uzbekistan signed on April 13, 2019 ("Letter Agreement") and the Grant closure date was 31 December 2019. Further, the Applicaton Closing Date was extended to June 30, 2020 including the 4 months grace period was 31 October 2020. The implementing agency for this Grant is the MoEDP through the Project Implementation Unt (hereinafter - "P U") is the implementing agency for the Project. The objective of the Project is to support to the Ministry of Economic Development and Poverty Reduction (hereinafter - "MoEDP") in preparing the proposed PVOQ Project under a program of support to the Fergana Valley. The Project consists of the following parts. a. Provision of support for the day-to-day operations of the PIU, including inter alia fiduciary, safeguards, mcnitor ng and evaluation activities, setting up of the needed logistics arrangements, technical expertise and recruitment and training of staff required for these purposes, b. Provision of support for the preparation of key PVOQ Project documents and related technical assistance including inter alia: (a) techncal stud es and documents needed to prepare the PVOQ Project, such as the project procurement strategy document, project operations manual, economic analysis, monitoring and evaluation including a web-based management information system for program oversight, and project results framework, and the project communications and outreach strategy; and (b) selected environmental and social safeguard documents for the PVOQ Project. c. Financing of Project audits. The tabie below specifies the categor es of Eligible Expenditures that would be financed out of the proceeds of the Grant, the alocations of the amounts of the Grant to each Category, and the percentage of expenditures to be financed for Eligible Expenditures in each Category: Amount of the Grant Percentage of Expenditures Category Allocated to be Financed (expressed in USD) (inclusive of Taxes) (1) Consulting services including audit 133 250 100% (2) Training 17750 100% (3) Operating Costs 17750 100% (4) Goods 18750 100% Total 187500 100% 9 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 2 SIGNIFICANT ACCOUNTING POLICIES Basis of preparation These special-purpose Financial Statements have been prepared in accordance with the International Public Sector Accounting Standard (IPSAS) "Financial Reporting under the Cash Basis of Accounting" promulgated by the International Federation of Accountants (IFAC). Those standards require that cash receipts shall be effective when received and expenditures of funds shall be effective when they are paid rather than when incurred. The Financial Statements prepared under the cash basis provide readers with information about the sources of cash raised during the period, the purpose for which cash was used and the cash balances at the reporting date. The measurement focus in the financial statements is balances of cash and changes therein. The Project's special- purpose cash basis Financial Statements are prepared on the basis of cash receipts and disbursements which are a comprehensive basis of accounting. Cash and cash equivalents Cash and cash equivalents are recognized at cost and include cash at cash desk, cash at designated and special accounts at domestic banks and cash in transit, Project expenditures The Project's special-purpose cash basis Financial Statements are prepared based upon the accounting records of the PIU, which are maintained in both USD and UZS. The initial accounting records consist of summaries of disbursement documents and other payment vouchers. Accounting of PIU within the MoEDP .s conducted in accordance with the applicable laws of the Republic of Uzbekistan with the specific implementation of the Grant, including applying cash method. The policy management programs also include preparation of detailed of cost report on a cash basis in accordance with International Accounting Standards for the Public Sector. An analytical account of the sums received by the Grant of funding is separate from the breakdown of the total amount financed by categories of expenditure. At the end of each month / quarter are counted up all the items of expenditure for the quarter and total year to-date, in order to identify the remainder and in a similar way to keep records of cash expenditures for transfers. Foreign currency translation (i) Functional and Presentation currencies The functional currency of the Grant is the currency of the primary economic environment in which it operates. The Grant's functional currency is Uzbek Soums ("UZS"), as the major portion of its transactions are in UZS. These special-purpose Financia Statements of the Grant are also presented in the presentation currency of US Dollars ("USD") as this is convenient for the readers of the financial statements, 10 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts pre presented in US Dollars (ii) Transactions and Balances The assets additons and expenditure paid for in UZS were translated into USD using the following principles of transaction * Monetary assets denominated in UZS have been translated into USD using the rate of exchange of the Central Bank of Uzbekistan ("CBU") on the date of conversion; * All income/expenditure earned/incurred in UZS denominated into USD were recorded as an exchange rate of CBU, effective at the date of conversion- Cash & cash equivalents outstandlng as at reporting date are translated into USD at the rate of the CBU effective at the reporting date. The official exchange rate set by the CBU and effective, as at 21 July 2020 was UZS 10,210.39 to USD1 (31,12.2019: UZS 9,507.56 to USD1). Since September 05 2017, the exchange exists relating to converting the UZS into other currencies. At present, the UZS is still not a convertible currency outside Uzbekistan. Bank Accounts of the Grant During the reporting period from April 13, 2019 to July 21, 2020, the PlU held the USD Designated Grant Account for ECAPDEV Trust Fund Disbursements, and UZS Transit Account for UZS operational expenses at the JSCB "IPOTEKA BANK". The PlU operates a Designated Grant Account in accordance with the provisions laid down in the Letter of Agreement. The USD Designated Grant Account represents revolving funds provided from the ECAPDEV Trust Fund to factate prompt disbursement of funds The funds are maintained at JSCB "IPOTEKA BANK". The USD Designated/Grant Account is used to cover the ECAPDEV Trust Fund's share of eligible expenditures in both local and foreign currencies. The eligible expenditures are reported to the World Bank through Expenditure Reports/SOE. The USD Special/Grant Account is replenished by the ECAPDEV Trust Fund on the basis of request, prepared by the PIU for validation of USD Designated Account. The UZS Current Account was opened to convert the funds received on USD Designated Grant Account for Grant proceeds from WB and for payments to suppliers and withdrawal of cash. The outstanding balances of the above accounts as at 21 July 2020 are disclosed in Note 5. 3 SUBSEQUENT EVENTS There is no events after the end of the reporting period, which would require adjustment to or disclosure in these financial statements. 4 APPROVAL OF SPECIAL-PURPOSE FINANCIAL STATEMENTS The special-purpose financial statements were approved by the Management of the Grant for issue on 21 August 2020. 11 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 5 Statements of Cash Balances of the Grant The Grant had the following Cash Balances as at 21 July 2020 at JSCB "IPOTEKA BANK": Sources of funds Currency Note Name of account 21.07.2020 31.12.2019 Amount in USD Amount in USD Grant Account USD 6 Designated Account 41 260 Grant Account UZS 7 Current Account 1 Grant Account UZS 8 Corporate Card 38 Total 41 299 6 Statements of USD Designated Grant Account Account No.: 20696 840 7001 0102 1001 Depositary Bank: JSCB "IPOTEKA BANK" Address: Tashkent, Uzbekistan Related Grant No.: ECAPDEV TFA09749 Currency: US Dollars (USD) 21.07.2020 31.12.2019 Opening Balance 41 260 Cash Inflow: Initial Advance - 50000 Disbursements 39066 98158 Cash Outflow: Transfer into UZS Transit Account (Conversion) (80313) (106845) Commission fees charged by intermediary bank (13) (52) Closing Balance 41260 Urakov 0. Ubaydul ayev P rc1 c or Financial Management Specialist 12 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 7 Statements of UZS Current Account Account No.: 20203 000 2001 0102 1001 Depositary Bank: JSCB "IPOTEKA BANK" Address Tashkent, Uzbekistan Related Grant No.: ECAPDEV TFA09749 Currency: Uzbek Soums (UZS) USD Equivalents 21,07.2020 31.12.2019 Opening Balance 1 Cash Inflow: Transfer from USD Designated Grant Account 80313 106845 Cash Outflow: Financing of eligible expenditure (80314) (106844) Closing Balance 13 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 8 Statements of UZS Corporate Card Depositary Bank: JSCB "IPOTEKA BANK" Address: Tashkent, Uzbekistan Related Grant No.: ECAPDEV TFA09749 Currency: Uzbek Sourns (UZS) USD Equivalents 21.07.2020 31,12.2019 Opening Balance 38 Cash Inflow: Transfer from UZS Current Account - 635 Cash Outflow: Financing of eligible expenditure (38) (597) Closing Balance 38 14 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 9 GPE Trust Fund Grant Proceeds Jul 21, 2020 December31, 2019 Cumulative Grant Proceeds Through Designated Grant Account: Initial Advance received into DA - 50000 50000 Direct Payments - Disbursements 39 066 98 158 137 224 Total ECAPDEV Trust Fund Grant Proceeds 39 066 148 158 187 224 10 Contracts' Executions & Commitments Mainly the following contracts have funded by the ECAPDEV Trust Fund Grant, concluded and paid within the framework of the Grant and commitments outstanding as at 21 July 2020 were as follows: Source of Expenditure Contractor Contract Amount Amount paid - Commitment funding Items (USD Equivalent) (USD Equivalent) as of 21.07.2020 Center of support & development TF Grant Consu t ng 27 815 27 815 of population Contract No UPVP/SSS/01UZ dated 11.06.2019 PC Ekostandart Ekspert TF Grant ConsuVng 15 519 15519 dated 18.06.2019 Oversetta LLC TF Grant Consu T ng 11 495 11 495 Contract No. UPVP/CQ/02-UZ dated 24.06.2019 UltraShop,UZ LLC TF Grant Office 14 875 14 875 Contract No US/56 Equipment dated 15.01.2020 TF Grant Audit P4K0 MAK A5AS LLC 4050 - Contract No, PVP/AUD/1-UZ dated 13.04.2020 TOTAL 73 754 73 754 15 MINISTRY OF ECONOMIC DEVELOPMENT AND POVERTY REDUCTION OF THE REPUBLIC OF UZBEKISTAN ECAPDEV PROJECT PREPARATION GRANT FOR THE PROPOSED PROSPEROUS VILLAGES (OBOD QISHLOQ) PROJECT NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENT FOR THE PERIOD ENDED 21 JULY 2020 Amounts are presented in US Dollars 11 Statement of Expenditures (including reconciliation) for the period from April 13, 2019 to July 21, 2020 STATEMENT OF EXPENDITURE - ECAPDEV TF Grant No.A09749 WDA Expenditure financed from Designated Account for number Grant Expenditures the period from 13.04.2019 to 21.07.2020 1 49 987.00 50000.00 3 26521.34 26 534.34 4 21 647.96 21 660.96 5 49949.22 49962.22 6 38 987.00 39 000.00 8 66.22 66.22 Total 187 158.74 187 223.74 (1) Note: WDA No.1 was issued to be paid an Initial Advance Payment amounting to USD 50 000.00 (2) Note: During the reporting period, total intermediary bank commissions held amounting USD 65.00 Reconciliation of financing made through Designated Account - ECAPDEV TF Grant No,A09749 during 13.04.2019 - 21.07.2020 Total Expenditure by SOE 3, 4 & 5 148 105.52 Add: Intermediary bank commissions held 52.00 Total Expenditure incurred and financed from DA for the period from 13.04.2019 to 31.12.2019 148 157.52 Add: Expenditure by SOE 6 & 8 made for the period from 01.01,2020 to 21.072020 39 05322 Add: Intermediary bank commissions held 13.00 Total financing made through DA during 13.04.2019 - 21.07.2020 187223.74 16