Report on the Republika Srpska part of the Project Financial Statements of the REDUCING HEALTH RISKS FACTORS of the Ministry of Finance and Treasury Financed by: - SDC Grant No. TF0A4795 For the year ended 31 December 2019 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) CONTENTS 1 Introduction 1 2 Independent Auditor's Report 5 3 Project financial statements for the year 2019 7 4 Notes to the project financial statements 11 APPENDICES A. 1 Designated account statement - SDC Grant No. TF0A4795 12 A.2 Government account statement (BAM) - VAT refund 13 B.1 SoE Withdrawal Schedule of SDC Grant No. TF0A4795 (EUR) for the year ended 31 14 December 2019 C.1 Reconciliation between World Bank's disbursement statements in EUR and according to 15 the balance sheet REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 1. Introduction 1.1 Background Bosnia and Herzegovina, through its Ministry of Treasury has obtained a grant funds from the International Bank for Reconstruction and Development as administrator funds of the World Bank. The grant funds provided by the Swiss Agency for Development and Cooperation. The objective of the Project is to assist the Republika Srpska and Federation of Bosnia and Herzegovina in reducing selected non-communicable disease (NCD) risk factors by promoting tobacco and alcohol control, and diet and physical activity in four selected local communities. In Republika Srpska are selected Municipality Zvornik and Doboj. 1.1.1 Description of Project Change Attitudes and Behavior Concerning NCD Risk Factors Provision of support to two selected communities towards the: a) Review of existing programs and relevant studies that promote: (i) healthy food program(s) for pre-and primary shool children; (ii) prevention of tobacco and alcohol use in primary and secondary schools; and (iii) awareness of NCD risk factors among the adult population; b) Development of new preventive programs for major NCD factors including, inter alia: (i) designing, revising and distributing training materials among targeted groups; (ii) designating tobacco-free public spaces and promoting healthy lifestyles; and (iii) developing sets of toolkits for each risk factor for the promotion of tobacco-free public spaces and helthy lifestyles in public educational and health care institutions; c) Implementation of comprehensive local govermment interventions to adress key NCDs risk factors, including inter alia: (i) carryng out a training-the-trainers program(s) for teaching staff on practices that foster good health and promote awerencess on risk and preventiion of substance use; (ii) facilitating grants focused on promoting healthy lifesyles; and (iii) technical assistance for the dvelopment and implementation of advocacy campaigns and social mobilization, and surveys; d) Carrying out advocacy and social mobilization campaigns targeting dcision makers, civil servants and health professionals to increase awareness regarding harmfulness and hazards of NCDs risk factors; and e) Carrying out and end-of-Project study. 1.1.2 Project synapsislintervention program and strategy Project intervention are designed through 4 (four) pillars in the following way: * Pillar 1: Terms of Reference: Development and implementation of strategic, contextually approprite advocacy plans, communication, initiatives and approaches to Reduction of Health Risk Factors in the Republic of Srpska, contract number: BA/RS/RHRF/CS/CQ-001/17;5 1 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 1. Introduction (continued) 1.1.2 Project synapsislintervention program and strategy (continued) * Pillar 2: Terms of Reference ,Development and implementation of social mobilization plans for strengthening capacities of local communities", contract number: BA/RS/RHRF/CS/CQ-002/17 is planned to be used for activities in coordination, planning and implementation of prevention based on evidence and policy measures at the local level in the cities of Doboj and Zvornik. The activities of the Terms of Reference are based on the model approach to communities that do care (hereinafter referred to as: CTC), which is a widely accepted approach based on evidence throughout the world, including several European countries. The CTC helps communities select and implement tested and effective preventive programs and policies including the programs that they are already performing. This model approach is used for all four risk factors (smoking, alcohol consumption, healthy nutrition and physical activity) and for all target groups in the project (children, adolescents, young adults and adults). The activities focus on the following: * Setting up local action groups * Training on community mobilization, action and strategic planning * Preparation of short-term action plan 2018-2019 * Preparation of criteria for awarding grants and support to grant administration * Adoption and implementation of no-smoking policies * Having regular meetings * Implementation of the adopted action plans * Pillar 3: Terms of Reference Development and implementation of education programs in the local community for implementation of prevention and skills of healthy behavior (hereinafter referred to as: Education program) is planned so that activities of coordination, planning and implementation of prevention be implemented through it, all based on evidence and policy measures at the local level in the towns of Doboj and Zvornik. The activities of the Terms of Reference are based on the model approach to communities that do care (hereinafter referred to as: CTC), which is a widely accepted approach based on evidence throughout the world, including several European countries. The CTC helps communities select and implement tested and effective preventive programs and policies including the programs that they are already performing. This model approach is used for all four risk factors (smoking, alcohol consumption, healthy nutrition and physical activity) and for all target groups in the project (children, adolescents, young adults and adults). The activities proposed during the preparation and implementation of the Education program in community for the implementation of prevention and the skills of healthy behavior covered: - Evaluation of the situation in the preschool and school environments, administrative centers/local self-governance and health institutions - Review of the existing and modification and/or development of new materials/instruments for the implementation of the intervention - realization of the health-upbringing, preventive and promotional work with the targeted population within the implementation of the Educational program - Training of trainers in schools/preschool instructions - development of the local experts' network - Training of targeted population groups: * Workshops for parents * Workshops for preschool institutions * Professional workshops in the health sector * Workshops for employees in local administration * Community trainings * Training for the development of programs for improvement of health and "Healthy school/preschool institution/Healthy workplace" policies. 2 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 1. Introduction (continued) 1.1.2 Project synapsislintervention program and strategy (continued) * Pillar 4: Terms of Reference Development and implementation of programs for monitoring and evaluation of improvement of knowledge and skills of key stakeholders in the areas of monitoring and evaluation of results and the process of implementation of contemporary preventive interventions. The Project is financed by grant funds in total amount 1,409,682 USD, of which the amount is 690,744 USD for Republika Srpska. 1.2 SDC Grant No. TF0A4795 The World Bank has offered technical assistance and advice to the Republic of Srpska and the Federation of BH with an aim to undertake strategic interventions in the reduction of risk factors for selected non-communicable diseases, by promoting control of the use of tobacco and alcohol, and by improving the nutrition and increasing physical activity. The Swiss Agency for Cooperation and Development participates in the project as the financier, in order to provide support to the authorities in the Republic of Srpska and the Federation of Bosnia and Herzegovina in the preparation and implementation of efficient and promotional programs of prevention for the reduction of selected risk factors for non-communicable diseases among the population. The Ministry of Finance and Treasury signed the Grant Agreement, ref. number: TF0A4795 with the World Bank on 24 October 2017. The Government of the Republic of Srpska adopted Decisions to accept the donor funds from the Swiss Agency for Development and Cooperation, in the "Reduction of Health Risk Factors" Project. (Decision, ref. number: 04/1-012-2-1558/17 from 22 June 2017 ("Official Gazette of the Republic of Srpska", number: 63/17) and Decision to change the Decision of the Government of the Republic of Srpska, ref. number: 04/1-012-2-1869/17 from 24 July 2017 ("Official Gazette of the Republic of Srpska", ref. number: 74/17). Through these decisions, the Minister of Health and Social Welfare is authorized to sign the Project Agreement and the Subsidiary Grant Agreement. The Project Agreement, ref. number: TF0A4795 was signed on 31 October 2017, under the protocol number of the Ministry: 11/06-122-62/17, and the Subsidiary Grant Agreement between Bosnia and Herzegovina and the Republic of Srpska on 16 January 2018, under the Ministry's protocol number: 11/06-122-1/18. On 20 February 2018, the World Bank submitted a scanned and signed Letter of Project Effectiveness Declaration via email. The planned completion date of the project is 31 December 2018. On 21 Novembar 2018, the World Bank submitted signed letter of Exstension of Closing Date, and now, closing date is 30 June 2019. Item VI of the Government of the Republic of Srpska's Decision, ref. number: 04/1-012-2-1558/17 from 22 June 2017 (,,Official Gazette of the Republic of Srpska, ref. number: 63/17) puts the Ministry of Health and Social Welfare of the Republic of Srpska in charge of the implementation of the Project. The developmental objective of the project is to support the Republic of Srpska in reducing the risk factors for selected non-communicable diseases, through promoting control of the use of tobacco and alcohol, nutrition and physical activity with selected users (preschool age children, school age children, teachers, health professionals, and employees in local governance bodies) in two selected communities. The project aims to change the attitudes and behavior with regards to risk-factors of non-communicable diseases among the citizens of the two selected communities - Doboj and Zvornik. 3 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 1. Introduction (continued) Eligible Expenditures as set forth in the folowing table: Amount of the Grant Percentage of Expenditures Allocated (expressed in to be Financed (inclusive of Category USD) Taxes) Goods, conslulting services, training and incremental operating costs under part B of the Project 690,744 100.00% TOTAL 690,744 4 bakertilly Baker Tilly Re Opinion d.o.o. Grbavika 4 71000 Sarajevo Bosna i Hercegovina T: +387 (0) 33 552 150 F: +387 (0) 33 552 152 info@ bakertilly.ba www.bakertilly.ba 2. Independent Auditor's Report To the State of Bosnia and Herzegovina, Ministry of Finance and Treasury Attn. of Minister of Finance and Treasury H.E. Mr. Vjekoslav Bevanda Report on the Project Financial Statements Opinion We have audited the accompanying project financial statements of the Republika Srpska part of the Reducing Health Risk Factors Project (the "Project"), which comprise of Summary of sources and uses of funds, Balance sheet, Designated account statement, Statement of loan withdrawals as of and for the year ended 31 December 2019, and a summary of significant accounting policies and other explanatory notes for the year then ended, financed under SDC Grant TF0A4795. In our opinion, the accompanying project financial statements present fairly, in all material aspects, the financial position of the Project as of 31 December 2019, and of the funds received and disbursed during the year then ended, in accordance with the cash basis of accounting based on International Public Sector Accounting Standard ("IPSAS"), as described in Note 4.1. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and "Guidelines: Annual Financial Reporting and Auditing for World Bank - Financed Activities" issued by FMSB. 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 Ministry of Finance and Treasury in accordance with the International Ethics Standards Board for Accountants Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to ethical responsibilities in accordance with 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 opinion. Responsibilities of Management and Those Charged with Governance for the Project Financial Statements The management of project coordination unit is responsible for the preparation of these project financial statements in accordance with the cash basis of accounting based on IPSAS, as described in Note 4.1., and for such internal control as management determines is necessary to enable the preparation of project financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Project's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management 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 financial reporting process. JIB: 4200960550009 - PDV: 200960550009 * Raiffeisen Bank d.d. BiH: 1610000045270008 Baker Tilly Re Opinion d.o.o. trading as Baker Tilly is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. Responsibilities for the Audit of Financial Statements Our objectives are to obtain reasonable assurance about whether the project 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 detected a material misstatement when it 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 scepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the project 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 project 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. Report on other requirements In addition, with respect to the Statement of Expenditure, adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditure incurred; and all expenditure included in withdrawal applications and reimbursed against are eligible for financi under the project. Signed n ha f of Baker Tilly Re Opinion dG-e Sarajevo Nihad Fejzid, Dire tor and Certified A itO , Ezita Ima ovid, Certified Auditor Sarajevo, Bosnia and Herzegovina 4 May 2020 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 3. Project financial statements for the year 2018 3.1 Summary of sources and uses of funds EUR under the TF0A4795 Actual Cumulative Cumulative Cumulative Cumulative Ref 2019 2019 2018 Budget variance FINANCING TF 0A4795 226,984 577,152 350,168 650,939 73,787 RHRFP Government KM 26,977 39,717 12,740 39,717 - TOTAL FINANCING 3.1. 253,961 616,869 362,908 690,656 73,787 PROJECT EXPENDITURES By category Goods 93,710 104,101 10,391 104,101 - Consulting services 67,977 303,552 235,575 303,552 - Training - - - - Grants 148,004 148,004 - 148,004 - Incremental operating costs 16,478 25,676 9,198 60,495 34,819 TOTAL EXPENDITURES 3.1. 326,169 581,333 255,164 616,152 34,819 PROJECT EXPENDITURES By component Changed attitudes and behavior on NCD risk factors and their prevention among the citizens of the RS 299,556 535,131 235,575 535,131 - Project steering, coordination and supervision 26,613 46,202 19,589 81,021 34,819 TOTAL EXPENDITURES 3.1. 326,169 581,333 255,164 616,152 34,819 7 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 3. Project financial statements for the year 2019 (continued) 3.1.1 Summary of sources and uses of funds EUR under the TF0A4795 Actual Cumulative Cumulative Cumulative Cumulative Ref 2019 2019 2018 Budget variance FINANCING TF 0A4795 226,984 577,152 350,168 650,939 73,787 TOTAL FINANCING 3.1.1 226,984 577,152 350,168 650,939 73,787 PROJECT EXPENDITURES By category Goods 93,710 104,101 10,391 104,101 Consulting services 67,977 303,552 235,575 303,552 Training - - - - Grants 148,004 148,004 - 148,004 Incremental operating costs 12,297 21,495 9,198 21,495 TOTAL EXPENDITURES 3.1.1 321,988 577,152 255,164 577,152 PROJECT EXPENDITURES By component Changed attitudes and behavior on NCD risk factors and their prevention among the citizens of the RS 299,556 535,131 235,575 535,131 Project steering, coordination and supervision 22,432 42,021 19,589 42,021 TOTAL EXPENDITURES 3.1.1 321,988 577,152 255,164 577,152 8 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 3. Project financial statements for the year 2018 (continued) 3.1.2 Summary of sources and uses of funds EUR under the TF0A4795 (RHRFP Account BAM) Actual Cumulative Cumulative Cumulative Cumulative Ref 2019 2019 2018 Budget variance FINANCING RHRFP Government BAM 26,977 39,717 12,740 39,717 TOTAL FINANCING 3.1.2 26,977 39,717 12,740 39,717 PROJECT EXPENDITURES By category Goods - - - - - Consulting services - - - - - Training - - - - - Grants - - - - - Incremental operating costs 4,181 4,181 - 39,000 34,819 TOTAL EXPENDITURES 3.1.2 4,181 4,181 - 39,000 34,819 PROJECT EXPENDITURES By component Changed attitudes and behavior on NCD risk factors and their prevention among the citizens of the RS - - - - Project steering, coordination and supervision 4,181 4,181 - 39,000 34,819 TOTAL EXPENDITURES 3.1.2 4,181 4,181 - 39,000 34,819 9 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 3. Project financial statements for the year 2019 (continued) 3.2 Balance sheet as of 31 decembar 2019 showing accumulated funds of the project EUR 31 December 2019 31 December ref. 2018 ASSETS Project expenditure by category-designated 3.1.1. 577,152 255,164 Project expenditure by category-Government 3.1.2. 4,181 - Total Project Expenditure 581,333 255,164 RHRFP Special Account EUR A 1.1 - 95,004 RHRFP Account KM A 1.2 35,536 12,740 Total Accounts 35,536 107,744 TOTAL ASSETS 616,869 362,908 LIABILITIES RHRFP TF 0A4795 income 577,152 350,168 Other income 39,717 12,740 TOTAL LIABILITIES 616,869 362,908 Signe0t!"uthorised by: Alen r Mr Siniga Jinjetovid, Minister Assistant Minister Banja Luka, 4 May 2020 10 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) 4. Notes to the project financial statements 4.1 Basis of preparation and accounting records These project financial statements have been prepared in accordance with the International Public Sector Accounting Standard: "Financial Reporting under the Cash Basis of Accounting" issued by the Public Sector Committee of the International Federation of Accountants, and incorporate the accounting policies below, which have been consistently followed in all material respects and comply with the "Guidelines: Annual Financial Reporting and Auditing for World Bank - Financed Activities", issued by the Financial Management Sector Board. 1.2.1 Accounting policies The Project's fiscal year is 1 January to 31 December for the recording of all transactions. Cash basis of accounting All receipts and expenses under SDC Grant TF0A4795 are recorded on actual receipt and payment basis of accounting as per approved categories. Direct payments Direct payments concern the amounts paid directly from the Credit account of the World Bank. Statement of Expenditure (SoE) Statements of Expenditure are used by the Ministry of health and social welfare to state the expenditure under the IBRD Agreement during a certain period. These statements are sent to the World Bank's disbursement department who authorises the payment of the expenditure through the Special account. Currency conversions The reporting currency is Euro (EUR). Sources and use of funds (payments to suppliers and contractors) in currencies other than EUR have been converted to EUR using the currency rate at the moment of the disbursement or transaction. Bank balances, recorded on the balance sheet at reporting date, have been converted at reporting date rate. Designated account This is the total amount of the withdrawals from the Grant account for the Project. Grant is in USD, but withdrawals are in EUR. Other income Other income includes VAT refund. 11 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) APPENDIX A.1 DESIGNATED ACCOUNT STATEMENT Account owned by: Ministry of Finance and Treasury Account No.: 660000749-3 Depository Bank: Raiffeisen bank d.d. Sarajevo Address: Zmaja od Bosne bb, Sarajevo Related Credit: SDC Grant No. TF0A4795 Currency: EUR EUR Opening balance 1 January 2019 95,004 Add: Income from TF0A4795 226,984 226,984 Deduct: Payments to suppliers 321,988 321,988 Ending balance 31 December 2019 12 REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) APPENDIX A.2 DESIGNATED ACCOUNT STATEMENT Account owned by: Ministry of Finance and Treasury Account No.: 660000749-3 Depository Bank: Raiffeisen bank d.d. Sarajevo Address: Zmaja od Bosne bb, Sarajevo Related Credit: Currency: BAM Ref. BAM EUR Opening balance 1 January 2019 3.2 24,917 12,740 Add: VAT Refund 52,762 26,977 52,762 26,977 Deduct: Payments to suppliers 8,177 4,181 Ending balance 31 December 2019 3.2 69,504 35,536 13 � й п°°i й �°м й� ао й й г � г ОО О W 0 О� г г � О N И о f� � �О f� 1� � И И И�- М о N f� !� и М г N`� N и �Л т .� Ф Q. � (0 ы о О ~ N д .Q � � � � и ао и ао � ао с� сч д � N 0~0 � О Оо0 О�О � � V И о0 � СО CV 00 00 1� 1� G1 С � � N N t0 �О f� f� i/i � � � М г г N N �А �[1 � о М � и �" .° _ � д а � -Q с са д � J � � r,, _ �' ш �, F°- а �� а у ш � � пs � м ` т~ �.й � и°� � I о о~о й о й ' o�i� � г а+ �_� � � � a=i � й й°' ё°v N i i г�• � Q�� � ш =� N г- г М М �А И а v�ц о �` й tA С j, й И с t� и � Ф� ш � о� v оо � LL� � а � й т о _ L � о .о о� с сч �� и ш ~ о i` ш ��'�.с � �иn' � У ,и ш � � ° Е сА � � � � ш о � � � � � � � � � о � _ � й `° й о °о 3 о о и 1- ,� т ч� _ Q О V� ° О г г о ш � � � а _ � д � ш � (� +, s �о г � й � � V �о с и = L �о - г о р а ° сч ш � � � � � � 3 ° и ш �� о ш и � ш г У о г '- а+ М И т и � ° v '� и� к 0 г� а г� оо и т .а и т о 0 '� о s Qmo г ш Q. а, �' о, `4 � L с а и г о г ш�, �s о а � °-а ° о �о � т а о '� ° N и�� � Е � ��. у :° w R + Q т а` i°- � Е°- и°- v о Q REDUCING HEALTH RISKS FACTORS/PART B REPUBLIKA SRPSKA of the Ministry of Finance and Treasury Project financial statements for the year ended 31 December 2019 (all amounts in EUR, unless otherwise stated) CA APPENDIX Reconciliation between World Bank's disbursement statements in EUR and according to the balance sheet Exchange Changes in USD rate used Changes in EUR Original amount 690,744 0.94237 650,939 disbursed in previous years 405,838 0.86283 350,168 Withdrawal 5 60,052 0.88137 52,928 Withdrawal 6 62,014 0.88944 55,158 Withdrawal 7 133,973 0.89477 119,875 Withdrawal 8 7,801 0.90123 7,030 TOTAL disbursement in 2019 263,839 0.89066 234,991 Refund to the bank (8,813) 0.90862 (8,007) Cumulative disbursed as of 31 December 2019 660,864 0.87333 577,152 Calculated undisbursed balance as of 31 Decebmber 2019 29,880 73,787 Undisbursed balance WB Summary, 31 December 2019 29,880 0.89000 26,593 Exchange rate (47,194) 15