Aggregated Financial Statements REPUBLICA DE MO§AMBIQUE FUNDO DE ESTRADAS 31 December 2016 III EY Building a better working world FUNDO DE ESTRADAS AGGREGATED FINANCIAL STATEMENTS -31 DECEMBER 2016 INDEX PAGES Sta'enent of management responsibilitles I Pndependent Auditor s Repol1 2-4 Consolidated Road Sector Accounts - Balance Sheet Consolidated Road Sectr Accounts - Income Staternent 6 Rosa Fund Accounts - Balance Sheet 7 Road Fund Accounts - incorne Statement 8 ANE Accounts - Salance Sheet 9 ANE Accounts - ncome Statement 10 Provinces Arcounts (ANE and Read Fund Delegations- Balance Sheet I Provinces Accounts (ANE and Road Fund Delegations) - incorne Statement 12 Municipalities Accounts - Balance Sheet 13 Municipalities Accounts - Income Statement 14 Districts Accounts - Balance Sheet [5 Districts Accounts - inrcome Staterment 16 Office of Zambeze Bridge ProJect Accounts - Baiance Sheet iJ7 Office ef the Zambeze Bridge Proiect Accounts - Income Statement 18 GNPT - Office of New Bridge of Tete Accounts - Balance Sheet 19 GNP -- Ofice of New Bridge of Tete Accounts - IIcome Statement 20 Notes to the Financial Statements 2' - 56 FUNDO DE ESTRADAS AGGREGATED FINANCIAL STATEMENTS - FOR THE YEAR ENDED 31 DECEMBER 2016 STATEMENT OF MANAGEMENT RESPONSIBILITIES The directors are resvonsible for the preparation ani fAir presentation of the aggregated financial statements of FUNDO DE ESTRADAS, comprising the balance sheet as at 31 December 2016 and the statement of income and exoenditure for the year then ended, and the notes to the financial statements, which inctude a summary of significant accounting policies and ther explanatory notes, in accordance with the modified cash recerpts and disbursements basis of accounting disclosed in note 2. The directors are also responsible for such internal control as :he directors determine is necessary to enable the preparation of financial statements that are tree from material missiatement, whelher due to fraud or error, and for maintaining adequate accounting records and an effective system of risk manaemesni The directors' responsibility also includes ensuring compliance with relevant aws an;d regulations of the Republic oi Mozambique and apolicable terms of agreements. APPROVAL OF THE AGGREGATED FINANCIAL STATEMENTS The aggregated financial statements of FUNDO DE ESTRADAS, as identified in the first paragraph, were approved by the board of directors on 28 June 2017 and are signed on I belhlf bv: YAngerAntonio Ma:ukvca JtAo Mutombene Chief Executive Off cer WH Pao of Finance Directorate (FREE TRANSLATION FROM THE PORTUGUESE VERSION) INDEPENDENT AU)DITOR'S REPORT To the Shareholders of FUNDO DE ESTRADAS Report on the Audit of the Financial Statements Opinion We have audited the aggregated financial statements of FUNDO DE ESTRADAS (the Company), which comprise thie balance sheet as at December 31, 2016, and the statement of incomre and expenditure for the year then ended, and notes to the financial statements, including a summary of significant accounting poLties. n our opinion, the accompanving aggregated financial statements present fairiy, in" all materiai respects, the financial position of the Company as at December 31, 2016, and the statement of income and expendlitUreS for the year then ended in accordance with the basis of accounting set out in note 2. !n addition, we confirm, within the scope of our audit. that the transactions were made in. accordance with the contracts, agreements and relevant leg islation. Basis for- Opinion lWe conducted our audit in accordance with International Standards on Auditino (ISAs). Our responsibilitie under those standards are further described in the Auditor's Responsibilities for the Audit o f the Financial Statements section of our report We are independent of the Company n accordance with the ethical reqUirements that are relevant to our audit of the financial statements in Mozambique, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Responsibilities of the Board of Directors for the Financial Statements The Board of Directors is responsible for the preparation of financial statements that give a true and fair view in accordance with basis of accounting set out in note 2, and for such internal control as the Board of Directors determines is necessary to enable the preparation of financiai statements that are free from material misstatement, whether due to fraud or error, in preparino the financial statements, the Board of Directors is responsible for assessing the Company'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 manaoement either intends to liquidate the Company or to cease operations, or has no realistic alternative but to lo so. The Board of Directors is, also, responsible for overseeing the Company's financial reoortinc process. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free trom material misstatement, whether due to fraud or error. and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance. nut is not a guarantee that an audit conducted in accordance with ISAs will always detect a materia: 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 'nfluence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SAs. 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 approoriate to provide a bas:s For our opinion. The risk of not detecting a material misstatement resulting from rraud is higher than for one resulting from error, as Fraud may involve collusion, lorqery. 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 exoressing an opinion on the effectiveness of the Company's internal control. EValuate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors. Conclude on the appropriateness of the Board of Directors' 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 Company'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 Company 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 acnieves fair presentation. We communicate with the Board of Directors rienarding, 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. The engagement partner on the audit resulting in this independent auditor's report is Eduardo Cal a s. ERNST & YOUNG, LDA. Registered Auditors Firm Edu e 0 d 'Cfa Caldas (Registered Auditor no 33) Maputo, 30 June 2017 FUNDO DE ESTRADAS AGGREGATED ROAD SECTOR ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2016 (Amounts expressed /r Meticas> Notes 31-Dec.16 31-Dec-15 Assets 9.203.686.327 7.068L249.955 Cash 3 58793263 .5.1461 Bank 3 3,259.579.2551 1 894.078.820 Receivanles 4 5.938.313.8101 5972, 112 990 Total assets 9.203.686.327 7.868.249.955 Liabilities 10,168.992.280 10.787.833.826 Bank borrowings 5 8278 919906 8.942.851.288 Shortterm pavables 6 1 9§72.7j 1.844.982.539 Equity (965,305.953) (2,919.583.87i) Opening baiance 26 (919.583.871) (159.015.262) Additons of theear - Prevous year adjustments (33 105 507) 67-20.833 Surpius/(dpficit) l 987.38.4251 (2.828.089.442)j Total equfty and liablities 9.203.686.327 7.868.249.955 FUNDO DE ESTRADAS AGGREGATED ROAD SECTOR ACCOUNTS STATEMENT OF (NCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Amounis expressed in MeVlcals) No ies 2016 2015 REVENUE 16.82.655.271 15.741.023.715 Governmenr investrnent funds-State budget 9 1.175 711 293 3.722.746^822 Bordertmxes 10 479 690.815 501.139620 Feel levy r? 5.047 052 874 4.444,302,706 Grants 13 f 9-284.0281931 6 714 809 020 terider income 5.253 927[ 186 233 Bank interest income 14 11.172466 6,136.3381 Br!dge tolls 15 53 238,3701 704784501 Exchange rate gain 16 822 528 124 274.0l.0331 Other receipIs 671329 -I Oher incorre 17 3.262.880 2,183 494 EXPENDITURES 14.895,271.846 18.569.113.157 Administrative expenses 843.561933 800.696.007 Road funa headquarier 23 ¯ ¯¯ 890 103 2os 847 001 ANE(Mmrniristratgie Drectorate) 19 225A51,813 219 750 865 ANE Delegatons 20 297.126.793 283.844.062! Road fund Delegalions 20 71 146664 69.297.290 GPPZ 21 GNPT 22 1 2307 937 10,604.5141 Municipalities - South Pegion 23 144,839 91.209 MunidPaltes - Central Regior 23 32.00 52 .219 Munioipalties- North Regir, 23 '1.745 3,374 9481 27 8373,77 7-833.901 Capital expendiu res 13.600.574.084 16.619.54158S Road fund !eactquarter 10.209.530,268 2 147.425.946 ANE(Admirmstrative Directorare) 17 43.474.153 65.871 957 ANE Delegation) 18 3,715.949[1 2 762.8721 Road lunö Delegakons 18 2774479450 3.854 733 873 Office of Zambeze Bridge(GPPZI 79 -- GNPrT 20 26.900 254.6791 Municipalties - SöLth Region 21 118.837 793 163,104 6991 Munipalties -Centra! Region 22 138.3986 96.161.309 Municipal!ties - Norih Region 23 96.443.653 84846.6421 Dstincts 27 215,686 0211 214 3796121 Funds allocations 265.355.200 (46.967.394 EstradasdoZanbee 3 1 MAPUTO SuL 265.355.200 595.930 7 Other Expenses 2d 19 4 Rounding differences 174 2 Exchange rate los 25 185,780.445 401.908.162 Deficitdsurplus 1.287.383.425 12.828.089.442) FUNDO DE ESTRADAS ROAD FUND ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2016 (4mourds sxpressed in Meticais> Naoes 31-Dec-2018 31-Déc-2015 Assets 8556.659.194 7.324.078496 Cash 3 5.038,487 1.075.220 ank 3 2 968.671.772 1636.846.234 ReceKables 4 1-82948.35 5686158042 Total assets 8.556.659.194 7,324.078,49 Liabilities 10.035.575.289 10.609.U97,5 Bank borrowngs 8.278.919.906 6.42,51 288 Short term nayables 6 1756.655,383j 1.666 245.7 1 EqulY (1.478.91.095) (3.285.018.509) Openinq balance 13285.018509)j (572-6357U>, Previous Year adjusment (26.034.889 66.389.151 Defi it'Surp!us 1 832 187 303 77.744089) Total equitv and liabilities 8.556.659.194 7,324.078.496 FUNDO DE ESTRADAS ROAD FUND ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Anounis oxpressedm oVeticais) Notes 2016 2015 Re\enue 16.823.564.959 15.712.593,416 Governr ,ent in mstrent funds-State budget 9 1.175.711 293 3.722.746.822 Border laxes 10 479.690.815 501.139.620 Fuel lew 12 5.047,052.874 4.444.302.7061 Bridge olij 15 53.268,370 70.473,50i Grants 13 9284 028,193 6 714.809.020 ExchAnge rale gains 15 773.544 042 253.012 203 Gsink interest incore 14 10.269.359 6.090 5831 Otherincorne 13 14.012 E'pendifure 14.991.377.656 18.491,337.505 Administratw etenses 238.690.103 205,847.001 Mmnistratie expenses 18 238.890,1 205.847.001 Capital expendidure 10.209.530.268 12.147.425.946 Hci9ing Bridge construckn 1 .043.376.556 749415.966' Roads Constructon 223 843.832 313.415.967 Roads mainteniance 693 946.309 1.004 .627091 Roads rehabilitaic.n 7 641.983.526 9.348,384.415 Emergencv 129 465.9651 536.422.695 ,Rod sarev 5.767.250f 35.06.3281 Machmere"ard equipment 55.131 3021 Finance cosi 4, 1.46.779 L G.922.0971 Funds alincations 4.357.176.841 5.018.112,263 ANE Delegatons 20 291 315.294 6 ANE kministratv Directorate 19 265806591 273.105 077j Road Fund Dpegations 20 3.141.844.907 4.142-458 7221 Ofic e of Zambeze Bdge MunicIpaliies -- South Region 23 136.4d2.000 i 113 945 7051 Municipalitles- Central Region 23 167.018.975 95.896.547' M'unicipalites - Norit Region 23 85.293.700 18798.71,1 Estradas do Zambeze 161,036.6421 Maputo Su; 265 355.200 595.930.7521 GN17 22 2 100.000 1 Rounding Diflerence 174 - - - - .. . ----_. O*Pr ExpPrses 24 Exchange rate loss e25 65.780.445 400-824 829 Surplus(decit) 1.832.187.303 (2178,744.089) FUNDO DE ESTRADAS ANE ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2016 lAmounts expressed in Meticais) Notes 31-Dec-2016 31-Der-2015 Assets 161.412,634 113,21.981 Cash Bank 19 157639.1201 404 211.58 Recevables 19 3.773 514 9410.393 L.._..____ Liabiities 3.515.099 260.945 Short term Payablies 19 .515.099' 68 Equity 157.897,535 113.353.035 Opening Balance 19l11 .353,03 -860.9 Previous Yeat diustments 7( 293413) (257.209) Surplus(Defici") 7 49837.915 5.750125 Total Equity and liabilities 161.412,634 113,621.931 FUNDO DE ESTRADAS ANE ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Arounts expressedin Metcas) Notos 2015 2015 Rpvenue 318.763,881 294753.339 Transfers from Road Fund - State Budget 20 265.806 591 273 05.0771 Incomefrom publc tenders 20 3252.50 520.7510 (Ther Lncome 2?720.69Sj 987321 Bank iterest incone 20 - ExchangeRatsGains I6 48984.98211 21.C28,830 Exenditure 268.925.966 239.003.213 Administrau E&pex aes 20 225 451.813 219.750.865 Capitof Experditu 20 43474.1531 65,871.9571 Other Expendtures 24 - E r, Funds Allocations 2.297,059 Exchange rate ioss 25 .083.333 Rounding Difference Strplusi(Deflcit) 49.837.915 5,750125 FUNDO DE FSTRADAS PROVINCES ACCOUNTS {ANE & ROAD FUND DELEGATIONS) BALANCE SHEET AS AT 31 DECEMBER 2016 (A mounts expressdi to Meticais) Notes 'M-Dec-2016 31-Dec-2015 ANE & FE ANE&FE Provincos Provinces Agregated Aggregated Assets 314.639.633 307.262.756 Cash 3 754.776 982.9262 Bank 20 79.590.983 121.689.877 Receables 20 ~ 5234293.874 184.609,953 Total assets 314,639.633 307.282.756 Liabllties 79.620.862 128.291.166 OIher pavables ShurtTerm Paybles i i 79.520.862 128291_158 Equity 235018.771 178.991.58s Opening balance 20 17.8-,,58 2314845511 Preuus ya, adjustrents 7 (2.044.1,07) (1,525.702) (DeficWsurplus) 20 96 071.2 (50.967.56 Total equity and liabiilies 314,63933 307.282.755 FUNDO DE ESTRADAS PROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS) STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Amounts expressed ,n Meticais) Provinces Provinces Consolidated Aggregated Notes 2016 2015 REVENUE 3.438.454.007 4.432.394450 Transfers from Road Fund 3.43m60C261 7 25.60 Tender income W 2,016418 4665533 Oher income 20 2374,221 2042.543i Bank inlerest EXPENDITURE 380.382.717 4,483,362.011 Administratie expenses 20 368273450 35241501 Capib expenditure 20 2178.195.399 3.857A4967451 Funds Allocation 933,913.850 272723 912 Oherexpenses 20 4. Surplus[Deficift %2071.290 (50,967.551) FUNDO DE ESTRADAS MUNICIPALITIES ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2016 (Amounrs expressed n Meticarsi Notes 31-Dec-2016 3-Dec-2015 Assets Banks 49.140.344 26.560.249 Soulhern Region 23 16226 406 7909 CentI Region 23 28.824,229 5.820.512 Northern Region 23 4.089. 12 30687 Receivables 55.509.350 39>830.440 Receimbles - Southem Region 23 I 2¯.2493941 9549O¯ Receixebles - Centra! Region 23 24.051759 16.218A481 Roceivables - Northern Region 23 9.206 197[ 40629421 Total curret assets 104.649.694 66.39%.689 Liabifities 46.356.648 45.076.126 PayabiLs 23 F 46.3 6.6481 45076.126 Equity 58.293.046 21.314.563 Gpen;ng calance 21.314.563 58.672.273 Previous Year Adjustments 17,5501 2,914,593 Surpusf(defiit) 23 36996 033 40272 303 Total equity and liabilities 104.649.694 66,390.689 FUNDO DE ESTRADAS MUNiCýPALITIES ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Amounts expressed in Meticais) Notes 2016 2015 REVENUE 330.922.622 297,358.723 Road Fund Trinsfers 39Q.754.675 297.340.965 South Regin 22 0 113945.735 Central Regon 216.0.9847 Ncrih Reg;on 23 85.293,700 87498,731 Bank irterest Incoen Oter nome 167 94 7 757 EXPENDITURE 353.926588 337.531.026 Administrative Expenses 285.244 3.518.376 Scuth Regio, 23 144839 91 Centrat Region 23 33.660 52.21 NQrJi Region 23 81.745 3.374.9481 Capital Expenditure 353.661.344 334. 12.650 Scith iRegion 23 11Pa.47,97 15 Central Reglon 23 136.379.886! 963109i NonVr Regioq 23 96684.846.64¿ Other&Lpenses Surplus(Deficit) 36.996.3 (402/2.303> FUNDO DE ESTRADAS DiSTRICTS ACCOUNTS BALANCE SHEET AS AT 31 DECEMBER 2016 (Amounts expressed in Mticais) Notes 31-12-2018 31-12-2016 DISTRICTS DISTRICTS Agregated Agregated Assets 27 61,780.137 52.104.161 Cash .... 5an! -l Renivaties 27 617881 52.104161, Total assets 61.788137 52.104161 Liabilities 3.924.382 5.100,582 Other payabies Shor!Term Payables 27 3.924.382 5.100582 Preaious year adjustm en Is Equity 57.863.755 4?.03.679 Opening balance 27 47.G03.57g Prevíous vear adjustmelns 27 334 455 (Delitvsurplus) 27 l 525722, 47.003 579 Total equitv an d liabilities 61.788.137 52.104161 FUNDO DE ESTRADAS DISTRICTS ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Amounts expressed n Meficais* Provinces Provincs Consolidated Consolidated Notes 2016 201 REVENUE 234.585.120 27234,363 Trasfmr- from Delegatons F 234.55119 272222 Tender Income 27 Ofhe, inceme- 7 Bar,k interast 27 EXPENDITURE 224.059,398 225.730,784 Adimnistrativa expenses 27 3 373377 Captal expenciture 27 215.68601 214.379.612 Fnnds .4ocation 27 L he exense-73 517.272j Surpusfoeficit 10.525.722 47.003,579 Noes 31-12-2015 31-12-2015 Assets I.905 1.905 Cash and bank 21 1 0< Raceiebles 21 Total assets 1.905 Liabilities Shoi term payab)es 27 Equity 1.905 0 Openmg baiance 21 ,9 Previous Year Adiustment 2. - SurTlus4(Deicit) Total equity and liabiitios 1.690 U L Dl STADAS FUNDO DE ESTRADAS OFFICE OF ZAMBEZE BRIDGE PROJECT ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 (Amounts expressed in Meticais) Notes 2016 2015 REVENUE Transfers from Road Fund 27 Road Fund direct payeint(IRPS) 21 Other Income EXPENDITURE AmrninistratKe expenses 21 Capital expenditure Other expenses 21 Surplus(Deficit) FUNDO DE ESTRADAS GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS BALANCE SHEET AT 31 DECEMBER 2016 (Amounts expresse, iný Meticais) Notes 31-Dev-2016 31-Dec-2015 Assets 4.535.130 4.769.967 Cash and bank 22 4 535.1301 Recevl22 L - _ Toab! assets 4.535.130 4.769.967 Liabilities Short tarm payables Ž2 Ewlity 4.535A30 4.69.967 Cpenng balance 22 4-79.957 15.629.161 Prewous Yearkjustment 22 - Surplus/(Daficitnia (234.837) (1.859193) Total equity and liabilities 4.535.136 4.769.967 FUNDO DE ESTRADAS GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2016 {Amo[ints expressed in Metica,s) Notes 2016 2015 REVENUE 2.100000- T ransfers frm Road Fund 22 2 400000 Road Fund direci oayment(iRPS) 22 Oter Income - EXPENDITURE 2.334.837 10.85993 Mministratæe expenses 22 2.307.937 10,604.514 Capi(al expnditure 22 2B.900 254-679 CO)r expenses 22 Surplusl(Deficii) (234,837) (10,85.193) FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Meticais) 1. INTRODUCTION The Road Fund functioning aims to finance the system of roads in Mozambique, namely: construction. rehabilitation and maintenance. The Road Fund received funds from various sources, namely: - State Budget. Own revenue as transit fees, bridge tolls and fLel levy, Foreign financing (grants and loans). during 2016. o ADB (African Deveiopment Bank) -- Montepuez - Lichinga Road Upgrading Project. supplementary Loan to finance the Montepuez-ichinga, Multinationai Nacala Road Corridor Project -Phase lii, Mueda - Negomane Road Project. Muela - Massangula Road Project. * DANIDA (Danish International Development Agency) -- Road Sector Budget suppol for District roads. * INDIA Eximbank (The Export-Import Bank of India) - Rehabilitation of Road N280/281 between Tica Buzi and Nova Sofala in Sofala Province. - IFAD finternational Fund for Agricultural Development) -- Food Production Action Pian (Pro-Papa) ana Rural Markets Promotion Programme in Maouto, Niassa and Cabo Detgado Provinces - PROMER. JICA (Japan International Cooperation Agency)-Montepuez-Lichinga Road Upgrading Project and Multinational Nacala Road Corridor Project - Phase Ill and Construction Works of 13 Bridges, between ile and Cuamba. Mandimba - Lichinga Road Upgranding Project, Constraction of Bridges on the Road bet lie and Cuamba KfW (Gerrran government-owned development bank) - Road Construction and Maintenance in Inhambane Province. Korea Exim bank (The Export-Import Bank of Korea) - Multinational Nacala Road Corridor Prolect - Phase ill. * Portuguese Government--Construction and Road Rehabilitation : Macomia - Oasse, Canigado - Chicualacuala, Chimoio -Espungabera and Mocimboa da Praia - Namoto; Construction of the new Tete Bridge, Rehabilitation oi N 103e R657 between Magige, Etara and Cuambo , Rehabilitation of R602 between Magoe, Mucumourra and R601 Estima Marceira. * UE (European Union) -- Milange-Mocuta Road in Zambezia Province Phase I; Upgrading of Milange-Mocuba Road Phase II: Road Sector Budget Support * World Bank -RBMMP - APLI (Adaptive Program Landing ii). China EximBank - Beira MacNpanda Rehabilitation Road * OPEC- Road Rehabilitation to Rural Market Access - PROPESCA. The Road Fund provided funds to 1he following entities GNPT - Cabinet of Nova Ponte de Tele - ANE Headcuarters - National Administration of Roads. ANE Delegations Municipalities Government of Districts FE Delegations Empresa de Desenvolvimento de Maputo Sul EP - Districts FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Avmouns expiessed in Meticais) 2. MAIN ACCOUNTING POLICIES 2.1. Basis of preparation The financial statements are preopared on the modified cash receip!s and disbursements basis of accounting. Unaer the cash receipls and disbursements basis of accounting, revenue is recorded when received in cash and expenditures are assigned to the per:od in which cash payment is made. This basis of accounting was modified to inc[ude accounts receivabtes (Advance payrnents made to our Supp]lers) and payables (Suppljers Relentions rnade by us, as at 31 December 2016 and is consistent with the prior year, These financial statements reflect !ne aggregated transactions within the Road Sector 2,2. Functional currency Tho funcliona currency of Fundo de Estradas is the Metical which is also the presentation currency. 2.3 Foreign currencies Transactions in foreign currencies are translated at the rate of exchange ruling at the transaction date, Monetery assets and liabilities in forejgn ourrencies at the balance sheet date are translated at the rates of exchange rulirtg at the balance sheet date. Ary forelan exchange differences arising on sucn translation are recognised in the income statement in the period in wh:ch they arise. 2.4. Capital expenditure Capital assets are expensed on acquisition. However they are controlled through a fixed assets register. Expenditure on road maintenance and rehabilitation is not capitalized, since the roads and the land on which they are built are property of the Govemrneat of Mozambioua. 4.5. Revenue Revenue represents the resources originated by norrnai activity of the Road Fund, such as transil fees and bridge tolIs; the support iron Stata Budget and also foreign Grants and Loans suppodet by the Mozamoican Treastiry. Revenue is recognised in the income staterent on receipt of the funds into the ertifs bank accountS. 2.6. Expenditure Expenditure represents operaling costs covered bv internaly generated resources from the Road Sertor as weli as Governmer! suppot granta and toans. 2.7. Advances ta implernenting agencies t. Receivable balances include advances and expenses not yet justiffed by year-end as well as the retontions made on the contr2cts awarded and other tra nsactions with in the Road Sector accounts. FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in meticais) 3. CASH AND BANK BALANCES: 3.1 Cash Cash is analysed as follows: 31-Dec-2016 31-Dec-2015 Cash on hands Road Fund Headquarter 15 250 20,000 Caia 134.610 88760 Guia 35.140 13.660 lIha de Moambue 6.690 3.880 Ponte de Lugela 21.990 6 660 Rio Save 255.590 344.550 Rio Zambeze-Tete Rio Limpopo - Xai-Xai 119.810 4.890 Milange 56.000 5.880 Mapu!o 162 957 22 200 Machipanda Tefe 4.230.450 501.720 Sub-Total 5.038.487 1.075.220 ANE TeM - - ANE Inhambane 749 215 749 216 ANE Cabo Delgado 5.561 233,111 Sub-Total 754376 982.926 Tota; 51.793.263 3.238,610 3.2 Banks Banks are analysed as follows: 31-Dec-2016 31-Dec-2015 Bank - Road Fund Headquarter 3.2.1 2968 671.772 1.636 845.235 Bank - ImplernPnfing Agencies 3.2.2 290.907.483 257233585 3.259.579.255 1.894,078.821 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Arnounts expressed in Melicais) 221 Banks - Road Fund Headquarler: 9319'6 cl0i/GC>1T699>I6 '107 601 CD1 CLm.. ad, MuçW^h~u d2 S (3 0 ~ J0'1 245 .3-l '-G5607l19r e C--UR -å . 1 47 c-2251 100 1 1. 2 1292&1 ' '7 771D Ylp [~31 - 31 1948 2402 fl4 '14': LJU Z ïd1111o1 li3 |4 113 k97224 100 Pir4 89295 691 3 299 .92 9 d r Card L9ïk 1 1 {100 - w'J .. .. 1 5'-19"1909 6 IG9arj. B13 ,k 11 1702 0 1 -C,Gr,1 i 4 1219 13 79' > F- 11 Icode> ç>>t> 4 9 13U9130C1 V'713 7 9 tp637 B [|vid nMcg:..' 4w091.103 3'|' ;7- . 94: l ,.ug0c c 4A7 122950 0' I'/'N- 93341 919 M42 N~ 19>y 000 946 9'7 080 63-91 '104 -,,1 974 0 -! 939 1 590321160 lg2' uU 33[ 3 T1 gk.2 ,19 w i 11 "Z,,119 9F>4 979 v 149 /92 69, 951 991 . 1C494 111011 9rt 39C0,0 M~1>N 14 39 12016 17 11 .1952951 277 1,N9 -i 1 1N2 20,Tjk t00 c02AO M, N17 34,' i 9j7 9>3 1 11 V11'1096 c- ro, 97 ý 0,63> 3 10 -r , 2/ 563 7,, 15 C"3727 32' ) .17 3 r..12' 1 -1 COG7 2 9 93119 1950 69> '--742 ' ' i 997 '94 719 001 9">N 167ï<990 9' -, ï 09 11 1-l 91,1.6 ä9 10M 2I1 '.!K 1 7 W145c 2;' B8>.n. >ic M369>5 oçïrbt..i19O 6, €X6' ¿7 t'n 4 _,. 1o , > 490920 a y .1-dMçi010M.t| '> . 2 11 90 93464946 61 1 y 14··'~ 1'> M1 1.irhiroq».> 499 01090 i>D -95-2000 5 112 219 6 93 709) Eiur-co >1 ir9ointvq>u> U b9G 0 ^ ' 52 1917 01 1 7 9 62 ? -r-.5:A ':06d9 DUS> 114 1 1'4- 6421 439 20,4 C-2C ',m - M ,b hle iytai M 7 04 5G S~LG 17 0 1 1,ý 10"83 '. iW 2 13,761 14, 9 r, -.,, 70 .423.; , 01d, 139v 290'909' 09 394 4 17' 0,(1 9613 2. 9 '23-, i 797 56ry3633 '23 35 707 47 1(144:t u 4> 4"m 1 9336o95 SSrNdM rd A-: 1999 10 , . >' .11.5,' 1111120961991 U3D9 09o9 29D |60 495 59: 19 21 03 > 9 -d 1r9r696 ''31- 10>1? 1909 U0.. r 4rIdB> 1'3 1r.1511 1104 .15' ,r, n:' 5 4 4 5Q1 1 c'99 000 26G '.89990 244 2OK 000 M 170(74541i,e/ Mr'1,- cec,V N},' 16->4160015 J'5 0 991990 639119 -I ro3T 2.646.661.7?: 1.6.44592 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Metcais) 32.2 Banks - implementing Agencies 31-Dec-2016 31-Dec-2015 ANE - Delegations 38.982,331 56.572.402 MaputD ProvEnce 1.802.462 956.120 Gaza Provinæœ 1.607.093 3.217.132 inhambane Prnvinoe 2858994 1.699.861 Sobla Provin c 4.803.2481 1273.561 Mamca Provinæ 1.256,745 2.826.1491 Zambenia Prov[næ 9.922.255 23 253.15 TeLe Provinœ 576.38 2.007.870! Nampula Pvince 9.283.190 9.887,686 Cabo Dekgado Province 1.560.280 3117.184 N[assa Provinc 5.311.126 $ 33.653 FE - Dalegations 40,608.652 65.117.475 Mapub ProvIrncæ 11.216.603 908.8 Gaza ProvEncw 7.690,843 1.623.2371 inhambane Provirce 1.878.526 1.573.937 SolKla Provinæ 1A28.702 3.337272 Manica Province 2.323 7741 2.024.558 Zantézia Provinœ j 1.353.811 3 727.917 Tele Provinæ 952.268 10 395.212 Nampla Provinc 1.584.131 987 363 Cabo Delgado Province 513.790 38.733.766 Niassa Province 11.666.203 1805.365 Municipalities 49.140.344 26.560.249 SOUTH REGION 16.226.406 7909.05 CEN] RAL REGION 28.824.229 5 820512 NORTH REGION 4089.708 12.830.687 ANE SEDE 157.639.120 104.211.588 GPPZ (cash and bank) 1.905 1.905 GNPT (cash and bank) 4,535.130 4,769.967 TOTAL 290.907.483 257.233.586 TOTAL GERAL 3,259,579.255 1.894.078.821 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 i'Aaiounts expressed in Me!ceis) 4. RECEIVABLES Receivabie balances mainly include advances to the suppliers namely. Estradas do Zambeze. and other transaetlons within the Road Sector accounis and are detailed as follows: 31-Doc-2016 31-Dec-2015 Road Fund, Heoai;arser r582.94í 935 .5.586,158.042 AN0 .- Hfeaduartsr 3.773.G14 9 410 39A ANE & RFF elegatons 234.293.874 184.609,953 Mumic[palites 55509350 39.a30 440 IGPPZ - GN7-T hts2 & ö788,137 52.104 161 Consolidated Receivables Balance 5.939.3135810 5.972.112.990 5. BANK BORROWiNGS Fundo de Estradas received loans from the folowing financial entities: 31-Dec-20'16 31-Dec-2015 2211 201 M1O-srmlmn 1 IM-e Rehabilitation of the Vanduzi-Changara road in Tete Province; (ii Namacura-Ugonha River road in Zambezia Province: and (iii) Construction of 3 bndges in Manica Province. These loans are payable within twelve years and have as guarantee a comfort ]etter issued by the Govemment of Mozambique - Ministry of Econormv and Finance. 2 CGD Caixa Geral de Depösitos to finance the following activities: (i) New Tete Brdge. The Ioan is payable within thirty years and has a sovereign repayment guarantee issued by the Govem ment of Mozambique - Ministry of Economy and Finance FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Meticeæs) 3. BIM - Loan in the arnount of 2.400,000.000 Meticais. Was contracted at 24 December 2014. wilh a sovereiqn reDayment guarantee: issued by the Government pavable in 7 years at the fixed rate of 11.5%, to pay several contractors. 4. The 5C - Lan in the arnount of 110.000,000 Meicais was contracted at 21 Dpeember 2014 with the purpose of paying severa! contractors. is payable in 10 years and bears interest at interest rate of 9.25%, This loan has as guarantee a comfort letter issued by the Government of Mozambique - Ministry of Economy and Firnance. 6. SHORT-TERM PAYABLES The balance of Short ierm payables is related mainly lo the value ol guarantee retentions in the construction works made in the road tund sector and is det ailed as follows: 31-Dec.2016 31-Dec-2015 Road Fund - Headquarer 1.756.655.383 1666.245.718 ANE - Headqua ter 3515.099 268-945 ANE & RF Delegaorcs 79 620.862 128.291.16B Mundpali(es 46.356.648 15.076.126 3.924.322 5.100.582 1.890.072.374 1.644.982.539 7, PREVIOUSYEARADJUSTMENTS 31-DJec-2016 31-Dec 2015 ROM FUND (26.084.889} (66.369.151) Gorrecian ofRelenlon Balarces for projects prevou to 2012 (375.966) Correion of Advar,ecs Balances loi prýects previous to 2012 (1 703 500) 6.507 8 13) INS9 balarice RegLrarLzMon 1448952,53 Co recton ofir vc duplicton n th e previous y Er (4,876.439) (77.952 581) VkLS offregarding recewables krom B1- line of 30mi|iion (2 128 984) OTHER (7 020.618) (1.131.82) ANE ( 293-416) 257.209 AkNi & RFDELEGArION', (2.044 107) 1 525702 Muinicipalrhes,!ý (17r 550) L?914 593) D354,455 - (33.105.50¯) (67.520.8331 FUNDO DE ESTRADAS NQTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMSER 2016 (Amounls expressed in Meticais) 8. SURPLUSI(DEFCIT) in Iight w[th the cash basis priniple, the consolidated surplus in the amount of 1.987,383.405 Meficais refers to the fact that the exienditures executed during the year did not surpass the collected revenues dunng the year. The amount of the expenditures, when coirpared to the revenues was made with the oPening balance at the Banks accounls, which had an amount of 1.894.078.821 Meticais. in addition, durIng the year, there were no inemal bank borrowinqs. 9. GOVERNMENT INVESTMENT FUNDS-STATEBUDGET This amnount reiates to the total transfers received during the currert year from the State budget for investment purposes 2016 2015 Received from State 8udget 1.175.711.293 3.722-746.822 Governmenlnvesment Funds - Su udget 175.711-2i3 pt 22 746.82j 10. BORDERTAXES 201 _ 2015 479.69D.815 501.139.620 Beira 73.576.325 29.521.9701 M1anca (Machipanda) 233.334A738 a~essa (Madinte , 253.728 278190 Zambézra (Wange) 14.996.072 12.361.3061 apo15.796.5671 B28.793[ Teu 141.718790 265.040 120 E- Cis,bf ._____ _____ l1. TRANSIT FEES 2016 2015 479.690.815 501.139.620 Bela 73.576.325 29.521.970 Manca (Machipands) 233.334 4731. 185,651.238 Nissa(,Madinba, 253.728 278-190 Zamtéza (Mflange) 14996.072 12.361.3061 Mapgto 15.796 567 &286.796 141.718790 265.040.120 & Sistafe.. 14.860L FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATE MENT AS AT 31 DECEMBER 2016 (Armounts expressed in Meticais) 12, FUEL LEVY 2016 201S Fuel levy 5.047,052.873,59 4L44402.706,09 Received durIng ire yea 5,047,052.873.59 444430270W09 13 GRANTS AND LOANS 0AE JD EUR GBP 49ZN ZAlR 83K |DA~- 1ýý i 1û 5 ChilM2 -l'- - 10 72 4 t4b -r2 1502 0CM i r2 lG -Q@^ 4692E's 652 C 63A42b.3,9 5 9,A1 - V 2 4 525,4 4214 1_m_C_el_ _ 14 41rŽ 2 3 ine amnounti s piesented for BAD, JICA, KfW, KOREAL POrfUgal. CHINA, INDIA and IDA -- World Bank are loans granted to the Mozamrbi|can Govern menti whicrh änte rests are s up ported by tbe Treasu ry 31 7% 4 e 1>31 941394 22 IL RIG -NAL CU1EC 2-Dec.-015 'm 14. BANK INTEREST INCOME 11.'f72.466 6.146,063 R-id r- und Hndm.'arini ,1026 -3fD5 09 NE.. . lquartgr- A T Y+ F Del1g1jl.s 103 10o7 45.'/ _4 D344r 11 -IJRCII FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Meticas) 15. BRIDGE TOLLS 201>3 ___ __ 20 ,326.370 70.47$450 ..Tifn'r:' 1ivr,1 - Xai mz 14 1'33 7410 12313 mm ;B-f 83 570 J196 .7sbl5.u.w -ie -- ~e, F, ruvmc ,> F,iv.'-r - A2 :rdro Gucbujz- ,Cal,3 1' - 241 , Q0 liS, 5 Mo11nx 972010! 1349. Umpn~oro Ri(vt'r - G.h1a 3 764 o2 2 666 670 501-61 L4 4129 670 16. EXCHANGE RATE GAIN - AGeountod in MZN AccunTog BanGe Exchange AccuUng l ab anc Exh ngo Rato Bak1 Accou1nt on the date of USD RaI MZN Galn oTansactiott 31-12-201 31-12-2016 31-12-2016 tMLUD304411102 _ 1 200 44 75 11 76 381 I 5 572 [MM 6D3216273DG 35 207?47 7'1 7 _4 -63 ¯'2( 2-iA259/I 9> U 4Q 2O06F i M1, 13 88 23 438 71A2 17t 01ß768 37.20.9- _ 11u , 09n 910 1 (102.3 9 2 3515(, - 59 223 5 -21 ¯¯ 3 zlIM u2D 72113767 472 41 10048 71A2 /M047> M U 1 100426161100 7 78 47 61 1 Ž22312 1 4 159 46.340 01 049 6 [.3 US ,4 -01 0 4-/_e1_6 14 1.32 847 1" --__ ' _ _ -¡ 4. SM U167D 4660 100 153.93.7061 2. 7000 >1 A 2 2-5 112206) ____ 101. 1 /8A93 3M U 1 C/48 6401000 o1 15. 107) 62.51 71,12 3460G4 4.921111 SM lS 0.'481760 ( M 25i00 604 "71.0 j 4140 19] 16 31594 "1, C1 99L.3.) ,42 -142.-2,139 "49 1- u/ ..... .......... .........729-458 5 Accounted i MN Ac.mintlg Balance Exhange Acounting salance BfankAcunt en th9 dt ot mzm at M2N -- .T...ana [ 31-12-2u116 J 31-12-2315 _ 31122016 % GRP 111/3201 i[ (16 16656 11531] 877 j5 1.011.8291 27.34 311 Accounted 1 MN Accounting Bafance Excharnge Accouning Balanco w-rhen94a R- Sa,k Accnurt n the datnof C (ate MoN Go n -.31--- . . '_* _12-2010 11-12,-2016 [ 31-12-210 BC¯UR 5272771000? 141016 31.91 27 ?AC'.504 3.4 PMV- U-00J.,60601009 4 325 221 4949 7627 6 7104 .405.4 r 374 r,-9t 7 4,392 [f.f m !,¯ ;AccountrdnMZN Accounting Blance Exchange Accounfinglee Exhange Rate BkA=cou nt l on the date of US atfi MWN Gain Transacticn 31-12-2016 31-12-2016 31.12-2016 _ A ________ ____ __ {'32_____ _ _ /3___ _______3_ SuLb-Total 12130.556 ¯¯counted inFZNAccontkng Balance Exc ngQ0Tccogntin1 B ancT Ex bwe Rato Bank Account onthe dattpf uSD Rate MN (Odn T-n-etion -- 3142-201 3112-2111-2-0 11IM 3141>1074 J6654 7, 9351 71, L 1 023 ir. Sub-Tota_ 34.350 ÉAccounted Wn MN Accounting Baane Exhange AccourrTg Salanc Ehange Rale BI AnFccounc on the date of C .Rata MZN1 Gal Tranaction 31-12-2016 31-12-2016 31-12-2016 211146952 63908 1 931Ž81 7627 1372.?11 47313 ... SuS--~Ini . .4_ 1j Rad FundTota! 773,544,042 ANE otnd 4884.1 9'en:lldated RF+ANE E22.526.122 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amourds expressed in Meticais) 17. OTHER INCOME 2016 2015 Description Aggregate balance 3262.880 2.181494 FE Headquarrs (i) 13 14,012 ANE Headquar0rs 720.698 98.732 GPPZ - GNPT -I Souin Region MunidpalIes 242- Ceqiral Regon Muniapaies 26595 13.328 North Regim Munriopelites 141.110 4A30 ANE Delegaions 2.374.220 2042.538 FE Deepaons Disfricts - 10.460 18. ROAD FUND HEADQUARTER 2016 _______2015 Administrative Expenses 238.890.103 205847.00, StafExpenses 90 912 955 07 Goods & Services 147.977.148 115.06 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 fArnounts expressed in Moticais) 19. ANE (ADMINISTRATIVE DIRECTORATE) 2016 2015 Asets 161.412.634 113.621.981 Ban 157.639.120 104.211588 Receivabies h 3 73,514 9.41.393 161.412.634 113.621.981 Liabilties 3.515.099 268,945 Paybaies 3.515.099 269451 Equity 157,897.535 113.353.035 Open[n9 balance 113.363.0361 107.860.11 F,evious Year A djustment (5.293.416) (257.209[ Die.itSurplus 49 83179151 5.750.125i Rounding difflrence - Equity and liabilities 161,412.634 113.621.981 Revenue 318.763.881 294.753.339 Road Fund allocatons -SW Budget(FE) 265.806.591 27 3. 77 Other 52.957.290 21,648.252 0-er incore 720 698 96.732 Tender income 3 252 510 520.700 B a n t r e s t in co m c e Exchange rab gan 48984.082 21.028.830 Expenditure 25B.925.966 289.003,213 Administrative expenses 225.451.813 219.750.865 Personnel ex.enses 179.681.178 176 290.94e, Third party suppliers 13 563.679 10.146 213 Third party sermes 32.206.956 33313.705 Capital expenditure 43.474.153 65.871.957 11cusing r - 40.332.279 57.2281011 Macbirtery and eoulpineL 3.141 674 8.41856 Roadr rehabiligtion L Other Expenses Funds Atlocation 2.297.059 Exchange rate loss 1.083.333 Rounding Difference Surplusl(eficit) 49.837.915 5.750.125 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMEMT AS AT 31 DECEMBER 2016 (Armounts oqbresss n MeticeÉ) 20, PROVINCESACCOUNTS (ANE/FE DELEGATIONS)- 1 --. ._.ID - -_, .__ -7acica A& __ FE _ F __ __F FE ANE F Chas4b,r5 18042.2 i21.03 1.7.093 7.693.43 261934 1 0?S 2M 4 803 248 1428 702 16 745 2 3231 ?A (23594) 3,1 545ó3 497950 31110 05 0 4 40372 6 0.05190' 167? 14 577 1' Equity and [labiP1ies 1.778.88 5L.37150 2.04.fri1 20.857. 2 4 413.53 5,18898 4.803.928 8.380.A113 1.419.817 16.900.973 Opc5inl -alanc (218 272' 501 >' 336696 17 53634 1280180 1.124665 (589 790 1 0039 (3 559431) 19 27".1C2 u r0 0l 703 2604 (3 304 2&51 17977 (23 6"1} 2000 3.3 (3A,C42) SlirnPaybs I0380 >?0 423 0501 17712 11-!Æ6 636 313512 5.0112 6U634.37 6292.?4 O01r paiyable - Sp"f;07: !9,0507 6762 3.t 58" I7 ý 9I)516 5001 61 572 7229ôl5 X06.25) 9 4 & (1) L Revenue 27.1093 303597.959 21.31.523 229359.330 24.750.503 42MAW. 92 37233 688 179.284253 28.57.195 231.239.928 Ro?. naFll 27.06630 30897'8 2897.945 22') 'M,933 23 901 153 ý4 02 37129100 2.304 252 19.86 0", k30 0W4A4Y Tede0dn«ra 43030 - 432,100 - 300.642 17.50 107.50 292240 12.20 Bano l1411l4Ž1 - ·· - 0 34345> 164 0 ü$ 0 3!470 0 b350 9 - 1 14496 f Expendiwro 2.150.23B 289.641143 2.179AH 217.473 42 22.90.565 411A683,315 32.173.472 1171c59,691 22.56.311 239 546,183 AOmnenvae 1ep 5.6 286 1 S.270 7 21.179 400 5 31 544 22 0%0 17M2528 29 33361 9 134174 22 50 6611 i 36 034 Capmepend8r 264 00 256064 742 0 94,W 935 - 3614 039 2.936 1I 46373 240 .3111163 Frp r - 172723 1405,102 2083.748 22.212277 21 227585 43lm sxp'1 s 0 - 1 - - 4 9up9D.879 19456.097 _ _717.892< 3.11 8 159938 <5.164.623) 1754.562 ..306. 32 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATE MENT AS AT 31 DECEMBER 2016 (An;ounts expressed in Meticais) 20. PROVINCES ACCOUNTS (ANEIFE DELEGATIONS) - 2 Tet mbó t0a _____N~i'pulaCb09gd AN4E ~ FE ANlE Ä6WEF ll 9WEF AssVos 670n8 4.05089 10.593742 64.8M6?2 9.2539U 30137 20.324.143 93.494 36 1,52,C41 92256 Caho' mands -99 Cas6ha9brks 5963 9.2269 9922955 1393811 9293109 1331 5311129 1166393 1560/33 S:3290 3671 315 821 87i 48.6 63 04I1 722 0f3 1 93 1 7 7132 193 17 fy9 9 466 Equityand 4, itieh 60.608 4054.89 10.5 3.742 61458 692 9-23JD 2.35.U 20 324,143 a3.494.395 1282.641 523 2 (prng E,il79 V 282 903) 14 916473 l 709.7 - 3Bt 96) 1659,783 3467 C14 18 3 25 37 2727 1(U023 33993,71d P2e ccYe-rA ns r - - 5kn0 2615 3c37 421918 - sh 21<18285 S- 1732 2u^i7C6 015,13 2 13, 9329 237732 119643G3 1295212 1 2 1 COr. :-yabai- IrP:s20eb! 12 239 294 (i 3399 W9 112.91t a W71ig 5 491 9 22 ID 11M3432 {91 9,44 Ci 6 9 03 Revnnu 25.393,99 295694.524 bT.2791 51T207.289 3.5U323 327796.860 29931.59 291,05M34 24,A505 374.0t0095 Road F upsd näi s 25.370.AM9 295 CCI 524 9 *0 01)11 roi 2972 38.59 7 321 / 0 7 0 57 i '757134 3419 009 324 M6 01 Terde: :.rn 409 0 8 003 61 S 157 20 29 197 009 Bad Inreoreri.èn 99 - o0 ilt 5li,9 9 4 291 011. i6 - 11530 3 11 0- Expendl're 28.633.193 397033.433 61403.M04 430.59309 K.14.345 334.095124 27.9 71 2 324.319 25.649,844 4085.25.508 AMris1Iatv6exper-es 28427382 5.105243 91L40904 10211259 31 014945 54 2v1 276U4.904 5197.916 25696 37 5306429 Capu e:pa!åre 205 611 255.86 679 - 312,441 763 - 29995032 o99 995 229 711 284 - 3/3 37.241 EUn 9eiW 1912110 .3 29 96 32549 741 27 699 11g 24 161 838 0oelspenses .,4991 Svrpltus!LOiot) 12111 C-11 IiL1 __D __ _- 221L --- 51,79 .2912641 j 9 4.302.615 11 3 5L5) 33 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Arnounts expressed in Metcais) 20, PROVINCES ACCOUNTS (ANEIFE DELEGATIONS) - 3 Total 2016 otal Agg ragated nTar-Delgatoroa _________________ _______ _____ _________ ransactions AE-_FE ANE+ FE 2016 ANE + FE_2015 ANE+FE+__E2016 _E-+FE2015 Assets 56.965.601 257.674.032 314.539.633 307.282.756 314.639.633 307.262.756 Cash cn bnds 754.776 754776 982.926 - 754.776 982926 Cash at banks 38.982.331 40608 652 79 590.983 121 689.877 - 79,590.983 121 689.877 Receivab!es 17,228-494 217.065.380 234.2r3.874 184.609.953 234 291874 184 609.953 Equity and liablitie 56.965.601 257.674.032 314.639.633 307 282.757 - 314,639,633 307.282.757 Operng Balance 33.801.940 145.189,647 17&91.588 231.484.851 178.991588 23t484851 Previous Yer Adjushrneds 3.245 (2.047 353) (2,044.107) 1.525702 (2 0 n107) (1.525,702, Short rm Payah.s 27 775.124 Si-4739 79.620.862 128 291.168 79 620 862 128 291163 04'er payables 0 Surp ddd (4A14.08) 62 685.998 58 071 290 - 50 967.559 58.071 290 150.957559) 0 0 Revenue 296.228.042 3142.225.965 3.438.454.007 4432.394.452 3.438,454.007 4.432.394.450 Road Ftnd-ansrs 291.315.294 3.141.844957 3433.160.261 4.425.640.620 3433.160.261 4.425.640.620 Tender InconE 1978.918 37.500 2.016.418 4,665.533 2.016 418 4.665.533 Ban k In rest Inccn 559.610 34.3497 903.107 45.754 - 903.107 45,754 Oce jacome 2.374 220 i 2.371.221 2.042 543 - 2.374.221 2.942.543 0 Expenditure 300Y42.750 3.079.539.967 3.380.382.717 4.483.362.010 - 3.380.382,717 4.483.362,010 Adnisireve e pennas 297.125.793 7 1146.64 368 273 458 353.141.350 . 368.273458 353141.350 Capr expenditir8 3.715.949 2.774 479.450 2.778.196.399 3.357 496.745 - 2778.195.399 3 857.496.745 Funds Allo caori - 233.913.850 233.913,850 233.913.850 0 Ore cxpene2 8 2 10 272.7 23915 10 272,725.9 5 Surp|us(UnI!dt¯ (4.61.7 08) ¯ 2¯¯ž89 307.290 ¯ (59,67,359) - ¯ 5871290 (50.967.559) 34 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts eypressed in Meticais) 21. OFFICE OF ZAMBEZE BRIDGE (GPPZ) 31-12-2016 31-12-2015 Assets 1.905 1,905 Cash and bank 1905 Receivab[es - Total assets 1.905 1,905 Liabilities Short term payables Equity 1.905 1905 Opening baiance 1905 1905 Previous Year Adjustment - Surpius(Deficit) - Total equity and liabilities 1.905 1.905 2016 2015 REVENUE T ransfers from Road Fund Road Fund direct paymnt(RP S) Other Income EXPENDITURE Administrativ-e expenses Capital expenditure - Otherexpenses SurplusI(Deficit) FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 7 Anounts expressed inMeticais) 22. GNPT -OFFICE OF NEW BRIDGE OF TETE tjotes 31-12.2016 31-12.2015 Assets 4.536130 4,769.967 CaLr a:d bar 79 T34 9 96 Recc3vanes L i [ 9__ T'tal assets 4,535130 4789.967 LIabilities . Snrrierm pay ab|es4 Equity 4535.130 4.76937 Crnn aaœ44 ¯â9 97 8.82 181 k'evous 6ear A.djustnt 19 Tctal Équity and liabilities 4.535.130 4,769,067 s204 2015 REVENUE 2.1000g Trans*?rs frar Road Pun 18 2 10L0 00 - Raed Fund drec payneriiRPS) 0:"r momer- EXPENDITURE 2.334.337 10.259.193 Adrr.i hveexrLÆ i 2.307-937 10,045 Cupirl expenddure 9 2.900.00 254 678,91 citr e0p,n8s . S urplus(Deficit) <34.837 1089.1 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMC-NT AS AT 31 DECEMBER 2016 (A mcunts expressed in Meficis) 23. MUNICIPALTIES ACCOUNTS (SOUT H REGION-1) - --- ---.- - .. -- ...-Et t . .. _. _ _-l _. s gs k l- 1~ý 71ý 51 5 72il 8?å M ' 6 UiI 3 g g 453 121 3 '7 ¯55 ¯·4 31539 737249 322>£> 3759. 13577' 33' 145 3113 353 3:! 43 75.5 -T ~ s i9n J 533 3.h2 M s E5 .I.1 5 iRi7 2 4 m 7.1 9k4li 1 4 79 5311 9 iss 3-ý7 - RQMc X.l me Ê -Mr %2' MMN 3 Faw!5æ 584 2 -,o 1 1 - - 25ý 2d 26 '.K- i.? M12 14715 9 iPs39 35 II ¿ 1 A 1>3, 5 ?3 3 474- 373 i - 3 3 1>1 1iQ a -Fa M . r -, , r . ø 2 G , 1 ý i [ m 1 1 = '335>37 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amours expressed in Moticais) 23. MUNICIPALITIES ACCOUNTS (CENTRAL REGION -2) ____0_______ 65rlica 1612 oo __ lmm N Ind2 Gron9a Clâic3 ¯n Co,nadica uismnde na Gonidola _ Te Asse13 36338 254.225 7.45.391 12.327 5315 2550274 263.6 455642 413.922 270.569 15305961 3.598.56.4 145 2912 Cag.or' bands - .. Cas r3 B 65433 2N 565 91321 5343 4,9? 1143 340 451 ?95 ¯ 653 65 734. 4439 UIF5 92 43 Rec aWSt - 1436 - - 3f656 22539 7569 1.07 2-34 204-44 293MV^o 3.55 934 E 1y sd Pbiliies V938 875412 3.481.3M 52327 .3-48 3M27.374 26.561 415.04 1213.622 276 90 15.6596 59,504 .45 22 9a2 0pa 9ng 65e 73996s (4133? 17351'3 U139 ;3625r 367S4 1333 ) (852 3, W.3333K 215492 33255 2 33274 9773 7S,e P'eicus Year e4nn.5 - - - g - - ac, 4 iMCD3 73-912 .11,78 35B 5I 74.23h r2l5 els55 21515 73 261435 49-754 32754 -34;1 54 oier py oss - - - 1119;03 1 -"e,m les 1.00 M3 v1 x-j- (23 3.W 51 925 557 r6 3 75 754 Re1eue D339.000 64.569 t.529 -.27860 2.242.00 2.569,00W 454,00 .19.0 2 ,UU25 4.33G45 2.03 .22.00 12.552.M 2.524.400 ddu 1293900G 1452 K 62..001 370 0 3?593 2 5 0. 00 4354000 53935 2.f2..6 473.39 5 1 525611 1.50200 12.152.640 2. 59Cc TPnder Inf- . - Bank Inbrestinlorre otFch:m - - Expndture 12.938-389 13.6212 45792 3.267338 U41.53 2.o-.6- 5 647.136 .4699 2.316.236 5.565862 75 5.620.124 12A 275 23Me46 MmdnsAis1nx7!e 200 2395 2456 7933 g 23 2 7 U,15-4 52523403 713 151 457337 3267515 4133 7 .5 6 (443<7 56 37 R?4 p 815 371 67.533 1 7611765 1 3 21 2 3520h 83 O Jl r9eg:er'.ss - ) SuUf|ll.lodi3iÍcit355 479 .4.a - 3646 30)- 9.1550.43423 2532 11O 92 - 9'67<7.557 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Arnouits expressd in Metioisl 23. MUNICIPAUTIES ACCOUNTS (CENTRAL REGION - 2) TotZambeziaTotJ Quelimana Mocuba Milang- Mag. Costa Gurtie Alto Molocue 2016 2015 Asscts 10.185.651 2.236.063 4.54105 16.046 0,542.281 7.546 52.875.988 22.038.960 Cash or hands - - - Cash at banK 4.879.437 2.236.063 1541.605 16046 8542.281 7.546 28824.229 5820 512 Recc4albles 5.306,214 24.051.759 16,218448 Equity and liabilities 10.185.651 2.236.063 1.541,605 16.046 8.542.281 7.546 52.875.988 22L038.960 Openg Balarice 6850.163 (617 46B) (5008) 14 29v <398 240) 81L820 12.686.376 12990.030 Prevlrus Year -Aajcistmens - - 0,01 Short lerm Payatks 336.946 628801 (31492 (23783) 399.540 732523 11,562,5388 9.352.583 0nr payables Surp>u(DeItd 2.996,542 2.224.331 57810 25.539 8.640 981 (.538.802 28.027.024 (303.653) Revenue 4.211.500 1J837.G00 9.504.000 5.099.595 21.496.000 12 723.000 167.045.570 95.909.875 Road Fund haukrs 4.211.500 15.837 00 9.504 000 5.073.000 21.496 000 12723.000 167.018.97 95 896.547 Tenler incme - 26.595 . 26595 - Bank JrnresLncome Bler k rbrso [ce t orc- ncr . - 1-.328 Expenditure 1,212.958 13.612.269 7.925.895 5.074.065 12.955019 14.259.802 138.418.546 96.213.52U AdoMrdrave expenses 2.335 2784 4,775 2900 299 2.037 38 660 52.219 Cap-blexrenddre 1,2i0.623 13.609,46 7921.20 5071165 12.954.720 14.257.765 13837938 96.161.309 Oter expenses plu(ficit2.99542 2224.731 4578.105 25.530 8540.981 1.536.802) 28,627.024 303.653 39 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts oxplessed in Meticas) 23. MUNICIPALTIES ACCOUNTS ( NORTH REGION - 3) ______ ______Nampu!a _____ ________Nas Namipula Niasa _ Mon apo Makmra A090chae _ Ribøue liha de Mos Uchmbnga Ceamo Meriguh Mandimba tar¯a¯¯ 1.al s 1.000.867 1453,12 255.725 126538 3-526.0 454.027 216.914 3.424.903 1.559 715 l1149 278.r34 83 Cash OFFat - G0 al 00ka 303 4684 2403H05 2.. 152100 11-12 4 648 00035 1 559718 il 49 27634 2.0 es6555 445 51 -7020 100 000 2 005.00? 442 001 212- 3.35 669 .- 5.2 Eqfity and; abilitcs t006.857 1.453.182 255725 !25.538 3.52.600 454.027 210.914 344M03 1.55971 B 11.049 278.534 8.02 0E 4a>M 392.252 (4.032 M51g 59,1 77 14V2732 43 W 201 ?26 7 3.107 94 rcjaus Ysar Auuiren6 150 - (1-55 SWt lim PayaLds 207.205 9-009 50 90|.56 323 355 ? 76125 254975 121,- -14il 1,7d 45 710 354 2.219 328 1 21 .56 Q-M payai4s SuIth@9 ) 2 690 3922 756 (10 97< 204.535 144 2) 225606 00703 3 12021 1 2 9 469 4 82 5. ¯0. 3 r 287 Revenun - 6.533000 3754.0 8.517.000 6-31100 1.400 12.90.00 1404.100 00M9.700 8.716.000 1,27.00 903.00 osd d t 6.33 050 U.754.3 5 517.00 031 10v 3 GR0C 12.000 000 14 0i 100 6.[2 7 '16.0) M2l00 9133>05 Tenlor !noenn Ba>0 læres1!r-vrm. Expenditre 2.00 10.155755 3.939.972 8.721.533 4.639.94 4,019.50B 13.042,93 10.M.82 741,434 9.145.00 6.981.738 4.978.30 Mr?vaxp es 7.00 2425 2306 126 4512 120 li2.11 3100 2225 2.035 2 5% 5255 C1at!3x3i9 027-577 07 10 4 4 0 '82 -1 019.4o5 13 000 677 1 7 782 .3 99 9 13.43 i7 1N 4.965 132 Surps(Dficit)2.00 3.02255} 1185.972 <204.539) 3420 _ (233.01, 054.793) 3 .21 (3.n4) (429.995 (5,70.13 (4.067.380 40 FUNDO DE ESTRADAS NOTES TO THE FNANCIAL STATEMENT AS AT 31 DECEMBER 2018 (Amiounts expressed in Meiicas) 23. MUNICIPALITIES ACCOUNTS ( NORTH REGION - 3) ___ .__ .. ...Cabo Degad1o ___ _Total Ccosidated Pea Montepoz _ _Mueda_ Chi re __ Mocinb.Praia 2016 2015 2016 2015 Assets 225.051 640.308 21.728 -.543 14,096 13.297.905 16L893629 104.649.694 66.390.6a9 Cash ,n hands Cash aleriks 22 051 59.844 21728 4.643 9.09† 4.089.703 12.830 687 49.140.344 26.560249 Reæivzb'es ...464 ,5000 9203197 4.02 942 55.509 350 39.830.440 Equity and 1Iabilities 225.051 640.308 21.728 4,643 14.096 13.297.905 16,893.629 104.649,694 66.390.689 Opening BaJac2 221 855 1034.561) 21240 7 166 253.742 641.269 1.359.791 21 314 563 58.672 273 Prevýus Year Musmants (17.55l (75) (17 550) 2.914.593 Sh cder Paysbes 5.589 1 534.009 (3 15 90 750 23764.785 16 257.360 46.355.648 45.073.126 Cte- payables SLrpsIDJ&0e1i1 (2393) 140860 2.642 (2.6141 (245 397) 11.090.598) 718447) 3B996.033 (40.272-03) Revenue 141.110 1.770,000 6166.800 2.308.000 85.434.810 37.503.143 390.922.622 291.358.723 Road Fund rats . 770(100 6.166300 2308.050 05.293.00 87.96.13 390 754.675 267.340.965 Iender!nccme 141. 10 141.110 167947 Ban6 a rrest Jncome other incomE A 430 17.757 Expenditure 2.393 250 3.767,35a 6.169.414 2,553.397 96.525.408 88.221.590 353,926.583 337.631.026 Adistraveexpenses 2.393 250 4.000 - 31.745 3.374.94B 265.244 .51.376 Capital expend4e - - 3.767.358- 15A14 2.553 397 9.44.663 8424.642 853.551 344 334.112 650 O1r ex4enses -. . 3 3 01 0 Surplusl(Deficr (233 4.6.4¯2 (2.64) (245.397> ¯ (11.09S.598) ¯ (¯181447 ¯36.996.22 (41272.303) FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2015 (Arnounts expressed,n Meficars) 24. OTHER EXPENSES 2010 2010 It oi AN E. -eadquar -@.-I ANE 90Legator1 25. EXCHANGE RATE LOSSES This amount arises frem the translation of bank accouni balances in foreign currencies to MZN at the exchange rate of Sanco de Mogambique/C[ ruling at 31 December 2016. Details per Bank Acceunt and Currency are the folowinq: cc din MZN A uin alanco Exchalng. Acc untlng Salaet> xhange Pato Bank Account un the dateof Rate MZN Gain Tranatfon 31.1220316 - 31.12.2016 31.12-2015 Fmarnrncid1 Ap1oœbontD 1534501299 355 526 000 40000 71.42 285 950 000 (69Gó5 0t0) Su b. Total Riu P unld To tal 178.9t.945 Accountod in M N A*countinq Balance Excha-nge A untinance Exhange RatA Ba. Accoun on the date of ueD Rate MZNa Transacflor 31-11-2016 31-12-2016 31.12.201G FinaDIa 16345on72 S0 174.00 _ _ D.00 8,S L 3,362 -- T Road FundTotat t consolidtatd RF 26. OPENING BALANCE 20316 __ 2010 Road Fooa Headqousns (3,285.018.509; 573663 51r ANE Hearrm 113533.036 0U7 660 11 ANE DeFogaank Provin ) 59 s1: 697 C0s 3W 4 03 0 3 93.W3 r : ,a s- - - - -5 :447 1- 3527 73.25 ?273 999 1.315722 Renc 1.270323 14JS6J2 29830.748 21.227 505 22.212.277 .121.516 3.32967 '2'Q%W41 27.05.119 24803.16 23565.120 NyJ Frnïd 1,,.sts 7 2732 1, 14 1551g 201) 74. 21 27.5U 22.2 2 77 16137515 38325337 32559741 2 675 '19 74576 106 734i51.1116 lT,nder co 51' io e -3 -1 - Expenditm 1,279)14 I5259.6S 12.01231 19441332 19.11.195 3 7.2.4 47.152.424 3.274114 27.t45.754 22.529.1û7 224 59.399 Adci 44p3ses 512 43 5303 59 3?A i9 59.425 .3.3 235 27D 4II.M9 376 554 34139 .373 377 C aples prM e ? I7Ere 126 947 la 65 320 1 -192, 19. i3 17 545 4 5 45 9 .54 3.X34.71 3679 157 22o 22775 75 Us621 ¯ uics Alontos- S Vipus Deficit) 61.52¯2 ¯ 544> 6.752 U4.25. ¯25i 7 16¯64525 ¯ 527.532T 41å423 7~¯¯5 ¯¯ 273.99 ¯¯ 'il525722 43 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (A mouf s expressed f i Meticais) 28. DONORS DIRECT PAYMENTS Duing 20i6 Fundo de Esradas benefited from direct paymenis made by donors for rehab ita on of roars. bndge cons ruction and onher actvities as deta ed elow Euiropcnn Comnission KFW BAD [NDIA JICA Portgal goreFa China Tota Déscdphon MZN MZN IRN MZNN MZN MZN MZN Revnnue Dirf aymrt f45 279295 53 71 1, 6j770 422 606 679 3U115 667 4755-C, 7 571.309 7 H6224412 645279,.95 53LS48.711 17,097670 1422.05.679 390.365,6W 4t755.682 4.617.57130N 7._66.224412 &perns2s C0r,sAmhy 133 726. 78 729 704 Ct11-770 b9 72 562 63,422 8T6 352ä 4 8o enaa 711.554.23 452 9 7 39M-3%93 i 9 U,'256ff7 41 75559 2 524 '1.623 154K4C552 RN,b f cRrdge 1.J4 523 425 0-4.523 423 945.279,295 51.548.711 .422.06.79 39041755.82 39 M6224,412 44 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 ( Amcnts expressed in Mticas) Tho fsnancing pe the pro,ec s snaiysed as fdlr3ws: ii ~~ILi ~ ~ Orig o 0r!al C urrop cy ___ - _____ EUR ¯¯SEK YENe r ZN] 29760 2915455 35966 15 ¯¯53 1. 54711 Pari3 013 2 1 15307 Ch:n - --2 4617571 309 1NDIA 37 498 . " _17 097670 U. _840.51- ___ - 2( 279,295 A ä 005 5421 1.562 - ?691000 422 606.679 KOREA 1 159 541 _ _ - 41 755.082 PORTUGAL - 41 1 ¯ 390,365.667 Prcmer A __ 2 -0S2 6 92.107 -ANCO MU = i L28 696 9 j 33.421.3511 267.257,513 -.592.OQ.G L L9281,746.544 -4. FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 {Amounts exprnssed in Meticejs) BAD --di - - aorpts -ef ....9 s___ burscments credit N Desc_ pon Bene USay Q- - EUR N7MV ZAR SK m YNEj ZN D Niburements Rct 2100150013143 eLi Raad Pröget dN[uFI$ -fL - Ra jet 2100150020398 M5 JWaa Road Corador (Mozrib q ANEFE ¯¯¯¯.272.582 2 623014 - 4 ¯65 Projpct 2100150023096 Supp r2o0by Loan Montpuez - LTga ANi-E 92 33 292.1 35 1 1S - - - 52.573027 Proact 2100150028343 Nscala Transpor Corridor Phase - i ANEUFE 47.122 - - 324? 837 Pro et 515015500401 MAaraNDevebprroComd ANE.FE 523588 - - 30884183 Total 8.975,602 2.915.455 35.96.115 - L531548711 576ý0G:200'7 _DeeNici eSupemizo da Reabeçãoý da rsta, c, tr:e Ruaça LW A Auraca - Sti - 577MGI2007 Supstvå da Reabação da EOada trtga lnde SNC Lwein -- 679'DIPROW0 Rkerahã E Mpaez Far, a M:G MCAA l ipczt -i - - r p 54?D0PRO352/2015 CPG - - - Total Project: 20l59J023096 Sapplemmed t ayL01 Mainep -Lcig - - -chingå 't.DIPRO/2008 Reabço di esaadaa theaI. Lk-nde C MG-MCMJ - 29281 35.956.1.i5 - - 47015.200 3410.... ___ onsul earv. For Doog review woksrMy- Mass 5- Cered e Nl Ls _Asoasts S Ans 92 33 - - - - 1 5,557.827 Total 92.330 292,381 35526,1 - 52.573027 7G8UIPRA.'2009 Deoign review - Nampula CUarrta, LOl A Nacrqpoauo Ribawe CPG - 769.D1PR012009 Design review - Namfpula Cuanta. LolB Ribawe. Maem Wps - - - - 77191DPR02009 U[pgradi,n of feN13 Road beLeian Nampda epuånd Cia2U, [ost A .... 7.501_54 ,- - 276617 425 772tDIPRO/2009 Upg radOMg of te N13 Road beaee Narpula ar1 Cumta One 1 CCC - 773DIPROl2009 Upgraig of he N13 Road besvee n4r0a ann Cuanba Lose C GabIel Cat - 2.23.074 - - 129.6,383 112/DPRa20120 Supe rv4o de Reabção da Estad a Malema C harb Lät G SNC eSo _ 302490- - - - 17403407 33/D0fl P 0l3 MiLärin eonaela Road Coruder Preoj SARI Comung LUI 288 4 - - - - - 21.636 451 159DPR02015 Teio Emjnos Conbmn - -Ger,3i:[ Tot a ___________ 8.272.582 2.f823.874 1 ~ - - 444.843.865 ProLoct 2100159028343 Nacala Tramiport Corridor Phasfi n4- - 1 51; Mau2015 Nacla Tra'ortCrr|dor r'has - fi1 47.122 - - - - 3 247.837 ... . Tata4 31247.837 Projort: 5150155600481 Mnara aevoentt Cor$idor - 04:/NPRO2013 Connu3to0y Sarves >r Feasibld Shody Pron.desgn bldnttingebeoMnsd gon S ndHro 3737 - - 20300 766 20MP i5 -0 B R _ dsters CI0te Rehariitaf- oMaed go-3 nray Snton L 9.831 --1.523.41? _____ 53.568 - 30.8B4.183 Grandiftal 8.975,602 29 455 35.863115 • 531.548J1 4E FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts exprssed ir MWicais) DANIDA 4_1 UR ZN ZAR SEK YENE ZM rmz zz~.zm zi 2 L15172L - .153 072j CHINA ~''m~'~~-" . D sbursement. _____ D sbursem?ns Pr*It 1 13 ¿Q 1,3 3 N6- r,,nc Beva 75 ¯l, 2 .6771 Tcial62 47.5954.617.571309_ 6xp en ses ______ P Vojct;12030205201 i12 N6: Machipandla to 5eira T PiOZV _ Rchbhsron Gnurgrarid ii nmÏ;adE _a' . - ¯ 42 Upg - Lj Fore 5orIp Uw9 9CIPRI212 Rehabro änd ShU g Rnyag Eripoe-, S Loper 8la gZ104 -ts Toa D 62.475,595 4157l.3O9 _ å7 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Meticais) UNIAO EIJROPEIA Crdté'Dscription Benefci-y --, D__ nsbursements _ ___- ___ - -- -- - . Il L ~QLZLS~ÆiRT1SS~IYUN¾USDZN Oisbursements ___ rojct:FhaseL Mi4og-M a oad --M -r 1. 79PROE:Pa8f _M_ nge- Moeub Phase ¯¯ ----9 [ i - Total1o~cs z m_ --"-- --- ---- 1] 4 -- -.. - -- -- - . .. - - .-- 5 1134649 Projett: Phase i Mla e-Mocuba Roa -- - - D1R1t1 MilIane- Maruba Pha_selI-_t4l2 4- ------- 55440.734 DPR/02 _.pe,_ t _rEdd_elpoI a M cbaN cheasfl[ v_ r &ComÆrv y 1274.206 - - 72.4 9 L2LDPRO0/2012 SIF &,ofltp fgoNaoMcb _ _ ___--t 2$ /æR9_f(013_ Super Ofnwtrgrated dev[co cl Mi1age- Mcuba- ncl HOuOCEgerhai a _____- 2.882 962 - 1676.1 Tota -- - ---- -- - --__ ------.-...-- _ -- . - 13.129.27K 7911 4 4 -- -- -.---- _om m urT- 3.x40.515:- _ ___ 572 48 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Arnounts xpressed in Metimäs) JICA Grédit N tkscpr¯p cd y-USD EUR Z N ZA~r - SE YE Z Pfet MZ o n Road o P -i P oN u E Project MZ -- p2 MiAi Nocala Road Co-r - Prolcter ANEru-. Pro[ec MZ - P4 MzndYr4a - Lchål a Road Upgrading - Pioject Narr AN FE - - L - P_roject M2- C e n sbrtck n 5¯ mg e s n1 22 ciad d C,10 000a422 A06P79 Pr¯ject:;MZ¯- Const rucflo n Brttgd so t he Roa d lo[ an d Cuambo____ ___ M7OIPROB Reabtaç.o EstMooezLchinga CCMCMCAAJV - 24 7?579054 - 3513Mp523k 82,5prU 013 MarAgbå, lygaR d 7 nlgPe Npn C Sa33 497 420TJPROG1 EU Cobi4sadol frOr-se Estaad 0Ruras Knoore f¯¯¯jj ¯¯¯¯i7a04 0 elt 329 175 ve.3 consyuýF~Ö 0GGk 4540 54,194 265 576 0 7 orsenhoeS up pivr s o d Re tml jK1ç o da EsRda uW A o o - 1a T rec n 4 . 1 9 7 - 32 953 73 T00195.13 7.245-421 84.56,2222 . 02.92¯1..79 ___ WroTo2 W17 1 _261I7 KOREA CrM Z NND rrt ee y -W -i--g -- -- - HOisbursements _____________________ Propct mlN da4NaA ¯E - -Narna Upradna phase -1 ANFJF 1155541 - 41 755.08? Projeot: aocoa oudcr Upgrndio2gphoe- 1 ______ 77DR;2 -w9 Upgrad ing d he l N3 Road b,e2en Nampu1a and Guato .ob A CEco - - 7742fPRC 2003 Upgradwg ofhe N13 Road een_ a ou.an- 3 [CCC -Cuor43Leb ?3:D!PRGO å9 Upgradmrg Rego beoseco Nsala ord Cuanta Lae Cabr! Coad .54 -- 41.7082 .å .. -41J55062 ndTt 54 45 49 FUNDO DE ESTRADAS NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2016 (Amounts expressed in Melicais Grvero Portugués .- - .- -.-- -- -Disb:rsemntpnN CreditN0 Dsanton 6Ranec~ia --- - EURMZN V ZAR ]~EK YENE MZN Dsburscrnats ____________ Prasct Uha dasU,G 4Mhòesde Euros = JANE.FE -.,.L 1%0 - - 320365667 Project: Uinha dos 400 Milhes de Euros T aPROi210 Reab8tção da NIO3o Rw57 benYe Magige. Etra e Cajmba Moi Ad rånc Eng & Cc-rstc 3569.534 147.671.617 5(YDIPRO42010 ReabStição da R602 ene Magac M(ee utUrra e d a 1601 Estrra Mareka Mc- Adrano Oag & Ccnst _o 4 97.60 205 520 375 4ilPR 12010 Cansu!ia Rleab da 9602 elte Magoe e Mucrteura e oa R61 Esim Maroes I kl