GrantThornton Independent Auditor's Report and Special Purpose Financial Information For the Period from 1 January to 31 December 2019 Contents Page Independent Auditor's Report i-ii Statement of Sources and Uses of Funds 1 Statement of Withdrawal Applications 2 Notes to the Special Purpose Financial Information 3-10 Appendixes 1-VIII GrantThornton Grant Thornton Sh.p.k. Rr Sami Frashel, Kompleksi T.I.D, Shk. B, Floor 1, 10 000 Tirana, Albania T +355 4 22 74 832 F +355 4 22 56 560 contact@al.gt.com Independent Auditor's Report To the Management of the project "Water Resources and Irrigation" and Ministry of Finance of the Republic of Albania Opinion We have audited the accompanying special purpose financial information comprising the statement of sources and uses of funds, statement of withdrawal applications and the related notes of the "Water Resources and Irrigation Project" (further referred to as the "Project"), implemented by the Ministry of Agriculture, Rural Development and Water Administration (MARDWA) financed under International Bank for Reconstruction and Development ('IBRD') Loan Agreement Number 8211- AL, Swedish International Development Cooperation Agency ('SIDA) Grant No TF014255 and Government of Albania Contribution for the period from 1 January to 31 December 2019. The special purpose financial information has been prepared by the management of the Project in accordance with policies described in note 2 of the special purpose financial information. In our opinion, the special purpose financial information of the Project "Water Resources and Irrigation" is prepared, in all material respects, in accordance with the cash receipts and disbursement basis of accounting as set out in note 2 to the special purpose financial information. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the special purpose financial information section of our report. We are independent of the entity 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 our audit of the special purpose financial information in Albania, and we have fulfilled out other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Restriction on Use and Distribution Without modifying our opinion, we draw attention to note 2 to the special purpose financial information, which describes the basis of accounting. The special purpose financial information are prepared to assist the Project to comply with the financial reporting provisions of the financing agreements set out in the note 1 to the special purpose information. As a result, the special purpose financial information may not be suitable for another purpose. Our report is intended solely for the Project, the donors and the Government of Albania and should not be used by or distributed to parties other than the Project, the donors or the Government of Albania. Responsibilities of Management for the Special Purpose Financial Information Management is responsible for preparation and fair presentation of the special purpose financial information in accordance with the basis of accounting described in notes 2 and 3; this includes determining that the cash receipts and disbursements basis of accounting is an acceptable basis for the preparation of the special purpose financial information in the circumstances, and for such internal control as management determines is necessary to enable the preparation of a special purpose financial information that is free from material misstatement, whether due to fraud or error. Auditor's Responsibility for the Audit of the Special Purpose Financial Information Our objectives are to obtain reasonable assurance about whether the special purpose financial information as a whole is 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 in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this special purpose financial information. 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 special purpose financial information, 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 out 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 entity's internal control. ii * 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 entity'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 special purpose financial information 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 entity to cease to continue as a going concern. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates, if any, and related disclosures made by management. * Evaluate the overall presentation, structure and content of the special purpose financial information, including the disclosures, and whether the special purpose financial information represents 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. Grant Thornton sh.p.k. Tirana, Albania 4 March 2021 4~ piii WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwlise stated Period from I Period from I Unaudited cumulative Notes January to January to from 26 August 2010 31 December 2019 31 December 2018 to 31 December 2019 Sources of funds IBRD funding 3 4,455,010 8,006,492 32,911,313 SIDA funding 4 - 654,419 3,295,569 GoA contribution for VAT and Local Cost 5 1,106,815 2,133,480 7,200,041 Sale of bid documents 6 559 1,093 6,801 Other income 7 66 766 2,797 Total 5,562,450 10,796,250 43,416,521 Uses of funds Civil works 8 (4,126,158) (6,885,631) (27,937,259) Goods 9 (155,372) (286,798) (999,260) Consultancy services 10 (1,007,750) (830,239) (7,071,049) Incremental operating costs 11 (19,962) (5,898) (96,470) VAT expenses and withholding tax 12[11,085,643)120120,662)3 ,771 Total (6,394,885) (10,129,228) (43,227,412) Excess of receipts over disbursements (832,435) 6 6 72 189,109 Exchange rate differences 18,522 63,782 99,033 Transfers to treasury (6,841) Cash at the beginning of the period 13 1,095,214 364,410 Cash at the end of the period 13 281,301 1,095,214 281,301 The Statement of Sources and Uses of Funds is to be read in conjunction with the notes set out on pages 5 to 10 and forming an integral part of the special purpose financial information. The special purposc financial information of the Water Resources and Irrigation Project were authorized for ~su b,2y the management of the project on 13 January 2021 and signed on its behalf by- Enea Hot Alin Skendo GeneralSe,r t F IARD) Project Manaq- (L4RD) Etleva Aludn Finance Al ngement specialist WRIP 1 ь I д � й N � °о° о � � cv � о � о О� ° N о д � v ь - N � Q Q- т `_ а а � а W ао и ti о о � � � rn N°о о F й й о о° й � rn � о и � � � пi й г+, i• ао � � � п~i °о � д ш ° а°о т R' � � а' � т °о °о � � > � р о > л '� т о о �R; а °' с� er Q °' N м и м т ш и N ао и о ш и и e•i �„ �n � т а � т V � V т о а°о � м т �J т� т N м i. f` 0 Qм7 Й О Й р) "11""'11 О? 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General Information The Water Resources and Irrigation Project C'the Projece) isfinanced by the International Bank for Reconstruction and Development CURD') and the Swedish Government through Swedish International Development Cooperation Agency C'SIDA' and GoA contribution. The revised total project cost is EUR 68.9 million, of which EUR 31.0 million would be from an IBRD Specific Investment Loan (SIL) 8210, EUR 23.0 million, would be from an IBRD specific Investment Loan (SIL) 8817. The Swedish International Development Agency (SIDA) win co-finance USD 4.249 million (EUR 3.88 million) and Government of Albania EUR 11, million towards the costs of strengthening IWRM and project management. Project beneficiaries include water resource management institutions, including Water Resources Management Agency (WRMA) and Ministry of Agriculture & Rural Development (MARD). The main development objective of the Project is to increase the area under improved irrigation and drainage, improve the safety of dams and establish the institutional basis for improved water resource management in two priority river basins, namely the Drini-Buna and Seman. The start date of the Project was 26 August 2010 when the Ministry of Finance agreed on the Advance Agreement for Preparation of Proposed Water Resources and Irrigation Project (die Project Preparation Advance or PPA). Through the PPA, IBRD agreed to advance an amount maximum to USD 1 million. This fund aimed preparing a feasibility study which provided information on the existing status of the 14 darns and associated irrigation systems, which represent the first phase of the Project. During February 2012, the project preparation phase was supported by SIDA which agreed to contribute an amount maximum to 1.8 million Swedish Krona. This amount was intended to be used for the preparation of the study on "Environmental and Social Impact Assessment, Resettlement Policy and Baseline Surveys". After the finalization of the project preparation phase, in December 2012, IBRD agreed to lend the total amount of EUR 31 million for the implementation of the project while SIDA agreed to grant a total amount which will maximum to USD 4.249 million. The project has been declared effective on May 13, 2013. The Grant Agreement nr.TF014255 between Government of Albania and Swedish International Development Bank (IBRD), acting as administrator of grant funds provided by Sweden, represented by the Swedish Agency for Cooperation and international development (SIDA), has been approved by Council of Ministers Decision no.636 date 31.07.2013 During 2015 by means of the Council of Ministers Decision no.91 dated 04.02.2015 "For some amendments to Decision no.939 dated 09.10.2013, the Council of Ministers assigned the state responsibilities, that were previously administered by the Ministry of Environment, to the Ministry of Agriculture, Rural Development and Water Administration. 3 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 1. General Information (continued) Consequently, the budget program "Water Administration" in accordance with the Grant Swedish TF 014 255 for the project of Water Resources and Irrigation, Part 3 "Institutional Support for integrated management of water resources and Part 4" Support the implementation ", was effectively assigned to MARDWA. These changes reflected in amended of Loan Agreement 89/2013 and TF Grant Agreement as follow: The Amendment of Grant Agreement nr.TF014255 has been approved by Council of Ministers Decision no 294, date 20.04.2016 .and Loan Agreement is amended by law no.58/2016. During 2017, the Project has negotiated with IBRD for Additional Financing IBRD loan with a total amount of 23 Million EUR. Consequently the Parties discussed and agreed on by signing on 19.03.2018 the Loan agreement for Additional Financing IBRD, which is ratified by law 31/2018. In addition the closing date of the project has been changes, it is 31 May 2020. The implementation phase of the Project consists of the following components: - Component 1: Dam and I&D Systems Rehabilitation. This component will be implemented by MARDWA. The objective is to rehabilitate I &D systems and dam infrastructure. - Component 2: Institutional Support for Irrigation and Drainage. This component will be implemented by MARDWA. The objective is to improve the performance of organizations that provide irrigation services. - Component 3: Institutional Support for Integrated Water Resources. This component will be implemented by MoE. (now MARDWA) Its objective is to establish the strategic framework to manage water resources at the national level and at the level of the Drin-Buna and Semani River basins. - Component 4: Implementation Support. This component will be jointly implemented by MARDWA and MoE. Its objective is to manage project resources in accordance with the project's objectives and procedures as outlined in the Project Operational Manual. IBRD Loan 82110 Percentage of Expenditures Amount of the Loan to be Financed (exclusive of Category (expressed in Euro) Amended taxes) (1) Goods, works, non-consulting services, consultants' services and Training - - 100% (a) Part 3 of the Project 310,000 48,411 100% (c) Goods for part 3 (c ) of the project - 240,000 45% (b) Other Parts of the Project 29,592,500 30,136,527 100% (2) Incremental Operating Costs 220,000 90,000 100% Amount payable pursuant to Section 2.07(a) of the (3) Refund of Project Preparation Advance 800,000 407,562 General Conditions Amount payable pursuant to Section 2.03 of the Agreement in accordance with Section 2.07 (b) of the (4) Front End Fee 77,500 77,500 General Conditions Total 31,000,000 31,000,000 4 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 1. General Information (continued) SIDA Grant TF 015255 Percentage of Expenditures Amount of the Grant to be Financed (exclusive of Category (expressed inUSD) Amended taxes) (1) Goods, works, non-consulting services, consultants' services , Training and Incremental Operating Cost for the project 4,675,000 3,955,000 100% 2. Goods for part 3 (c ) of the project 339,000 55% Total 4,675,000 4,294,000 2. Summary of significant accounting policies 2.1 Basis of preparation The special purpose financial information has been prepared in accordance with the receipts and the Cash Basis of Accounting as further explained in note 4 Recognition of income and expenses. The financial information includes the period from 1 January to 31 December 2019. Unaudited cumulative information on cash receipts and disbursements from the Project's inception to 31 December 2019 is presented in the Statement of Sources and Uses of Funds. The special purpose financial information is presented in EUR. The functional currency of the project is EUR. The special purpose financial information comprises the Statement of Sources and Uses of Funds, Statement of Expenditures and a summary of significant accounting policies and other explanatory notes. The Statements of Special and Project Accounts associated with the Project as supplementary schedules in appendices. 2.2 Summary of significant accounting policies A summary of significant accounting policies underlying the preparation of the Project's special purpose financial information is presented below. 5 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 2- Summary of significant accounting policies (continued) 2.3 Foreign currency transactions Funds are received in EUR and expenses are paid in LEK, USD, and EUR. The Project has adopted EUR as its reporting currency for consistency with the reporting needs of its main donor, the World Bank. Cash and bank balances in other currencies are converted into EUR at the year-end rate of exchange. Transactions in currencies other than EUR are converted to the reporting currency at the rate ruling at the date of the transaction. As at the year-end, 1 Euro is equivalent to 121.77 ALL, 1 USD is equivalent to 108.64 ALL (Exchange rate Bank of Albania 31.12.2019) 2.4 Recognition of income and expenses Income is recognized when received rather than when earned, and expenses are recognized when paid rather than when incurred. Accordingly, direct payments of the Project's expenses are recognized as sources and uses of funds at the time the payment is made. 2.5 Taxation The Project is exempt from income tax and the Government of Albania is responsible for reimbursement of Value Added Tax ("VAT") and local cost. The VAT amount stands for the contribution of Albanian Government into the project. The Project is liable for personnel income tax, social security contributions and withholding tax, and other expenditures. 2.6 Cash and cash equivalents Cash comprise cash on hand and in operating bank accounts. 6 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 3. IBRD funding IBRD funding consist of the following: Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Advances 2,000,000 550,000 Replenishments 2,455,010 7,456,492 Direct payments . . Refunds . . Total 4,455,010 8,006,492 Advances represent funds disbursed to the Special Account based on the planned project expenditures at the Project's letter of disbursements. MOF is the borrower of funds. The special Accounts of the Project are registered in Bank of Albania, where the funds are initially transferred by the donors. Replenishments represent funds disbursed by IBRD to the Special Account based on the withdrawal applications prepared by the Project. Direct payments represent amounts paid directly by IBRD based on contracts between the Project and contractors for services. 4. SIDA funding SIDA funding consists of the following Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Replenishments - 343,262 Dir dpam ents - 311,157 Total 654,419 Replenishments represent funds disbursed by SIDA to the Special Account based on the withdrawal applications prepared by the Project. Direct payments represent amounts paid directly by SIDA for contracts between the Project and contractors for services. 7 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 5. Government of Albania contributions for VAT and local costs Government of Albania contributions are related to VAT reimbursements for Project expenditures amounting to EUR 1,106,815 for the period. This amount represents the VAT paid on for VAT eligible expenditures financed by IBRD and SIDA. The local costs relate to expenditures for personnel income tax (PIT), social security contributions and withholding tax and other local taxes. Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Contribution for VAT 1,085,644 2,112,152 Contribution for local costs 21,171 21,328 Total 1,106,815 2,133,480 6. Sale of bid documents Sale of bid documents represents revenue from the sale of documents for bid procedures performed during the period. Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Bid documents 559 1,093 Total 559 1,093 7. Other Income Other income represents revenue from the interest earned by project bank accounts: Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Interest earned 66 766 Total 66 766 8. Civil Works Civil works represent expenditures incurred under contracts for "Rehabilitation of 11 Dams" and "Rehabilitation of I&D Schemes" Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Rehabilitation of 6 dams 2,775,617 - Rehabilitation of RBA offices - - Rehabilitation of I&D schemes 159,428 6,447,832 Reh Murriz hana Irrig 1,191,113 437,799 Total 4,126,158 6,885,631 8 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless othenwise stated 9. Goods This category consists of expenses such as computer equipment, office furniture, cars for River Basin Authority Office ('RBA) and Drainage Boards ('DB), Ministry of Agriculture, Rural Development and Water Administration ('MARDWA') and Ministry of Environment ('ME'), finance software. Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Alpha Software 1,667 486 Cars for RBAlmotorcycle munic 86,190 - Computer equipment for water Cadaster 67,515 286,312 Total 155,372 286,798 10. Consultancy Services Consultancy services for the period from 01 January to 31 December 2019 are composed as follows: Period from 1 Period from 1 January to January to 31 December 2019 31 December 2018 Feasibility Study and preliminary design for Irrigation and Drainage 285,107 - Support for preparation for Integrated Water resource management strategy - 311,157 Consultants' salary 48,469 23,715 Dam safety review panel and safeguard studies 16,923 10,379 Resettlement Policy and Baseline Surveys Damd&ID - - Supervision of reservoir 259,462 65,812 CS Local consultant enginner ( dams) 17,697 20,500 Support for preparation for I&D strategy - - Preparation of RBWR Plan' 25,576 135,635 Support to establishment of Water cadaster 110,988 - Establishment of M&E system 6,727 - Training - 263,041 TA Municip 204,005 CS- M&E consulting End project Survey (ME) 32,796 Total 1,007,750 830,239 11. Incremental operating costs Incremental operating costs consists of expenses such as stationery, fuel and maintenance, social security expenses, and other operating expenses. These expenditures were entirely financed by the IBRD, SIDA and GOA local cost. Incremental operating costs for the period from 1 January to 31 December 2019 are composed as follows: Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 Technical review of detail design 7,277 - Bank charges 1,790 1,901 Advertisement and translation 2,290 3,908 Other incremental costs 8,605 89 Total 19,962 5,898 9 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated 12. VAT expenses The Government of Albania is responsible for reimbursing all VAT incurred by the Project. VAT paid, on project expenses incurred by the Project, was as follows: Period from 1 January to Period from 1 January to 31 December 2019 31 December 2018 VAT 1,085,643 2,112,152 Withholding Tax 15% - 8,510 Total 1,085,643 2,120,662 13. Cash on hand and at banks Cash on hand and at banks for the period comprise the following: The Project has three accounts at Bank of Albania 'Special Accounts' where during the period funds from the donor are disbursed and then transferred to the second level bank accounts at Credins Bank App. Period from 1 January to Year ended 31 December 2019 31 December 2018 LEK Equivalent in Euro Equivalent In Euro Cash at banks: Acc. No. 487777 (ALL) III (3,715) (30) (8) Acc. No. 487778 (EUR) IV - 22,709 192,238 Acc. No. 487513 (ALL) V - - - Acc. No. 558388 (ALL) VI 31,492,390 258,622 902,984 Total 281,301 1,095,214 For more details please refer to the Supplementary Statements of Special and Projects' Accounts Appendixes. 14. Subsequent events There are no other significant events that would require either adjustments or additional disclosures in the special purpose financial information. 10 WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless othenwise stated APPENDIXES Water Resources and Irrigation Project IBRD Project Preparation Advance No. P4580 IBRD Loan 8211-AL SIDA Contribution no. 53030065-03 SIDA Grant TF014255 Statements of Special and Project's Accounts for the period ended 31 December 2019 (Supplementary schedules to the Special Purpose Financial Information) WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix I Supplementary Schedule of Project Account Statement Account No: 2117-547E (EUR) Depository Bank Bank of Albania Address Sheshi Skenderbej, Tirana Currency EUR Period from Period from 1 January to 31 1 January to 31 December 2019 December 2018 Opening balance Funds received: Funds received from IBRD 4,455,010 8,006,492 4,455,010 8,006,492 Disbursements: Funds transferred to BKT account no.401481701 in ALL Funds transferred to Credins account no 558388 in ALL (4,455,010) (8,006,492) (4,455,010) (8,006,492) Closing balance at period end -_- II WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix IT Supplementary Schedule of Project Account Statement Account No: 2117-555E (EUR) Depository Bank Bank of Albania Address Sheshi Skenderbej, Tirana Currency EUR Period from Period from 1 January to 31 1 January to 31 December 2019 December 2018 Opening balance Funds received: Funds received from SIDA - 654,419 Disbursements: Project expenditures - (311,157) Funds transferred to Credins account no.487778 EUR - (184,812) Funds transferred to Credins account no.487777 ALL - (158,450) - (654,419) Closing balance at period end - - III WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix III Supplementary Schedule of Special Account Statement Account No: 487777 (ALL) Depository Bank Credins Bank Address Rr. Ismail Qemali Nr.4 Tirand Currency ALL Period from Period from 1 January to 31 1 January to 31 December 2019 December 2018 Opening balance (955 18,248 Funds received: Funds transferred from Special Account No. 2117-555E 13,178,229 19,988,468 Funds transferred from treasury account (reimbursement) - 116,124 Interest received 392 Sale of bid documents - - 13,178,229 20,104984 Disbursements: Project expenditures (13,178,229) (20,121,750) Funds transferred to Credins account no.487778 EUR Bank charges (2,760) (2,437) Funds transferred to Credins account IBRD 487514 EUR (13,180,989) (20,124,187) Closing balance at period end (3,715)_ (955) IV WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix IV Supplementary Schedule of Special Account Statement Account No: 487778 (EUR) Depository Bank Credins Bank Address Rr. Ismail Qemali Nr.4 Tirand Currency EUR Period from Period from 1 January to 31 1 January to 31 December 2019 December 2018 Opening balance 192,238 152,516 Funds transferred from Special Account No. 2117-555E - 183,874 Funds transferred from Credins account no.487777 in ALL - - Credit interest 3 32 3 183,906 Disbursements: Project expenditures (50,508) (143,765) Funds transferred to Credins account no.487777 in ALL (110,989) - Bank charges (34) (419) (169,531) (144,184) Closing balance at period end 22,710 192,238 V WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix V Supplementary Schedule of Special Account Statement Account No: 558388 (ALL) Depository Bank Credins Bank Address Rr. Ismail Qemali NrA Tiran6 Currency ALL Period from Period from 1 January to 31 December 1 January to 31 2019 December 2018 Opening balance 111,446,251 28,153,153 Funds received: Funds transferred from BKT to Credins - - Funds transferred from account 217-547E EUR 547,268,528 1,030,536,968 Reimbursement from GOA - 1,748,944 Funds transferred from Treasury - - Interest received 7,726 92,375 Sale of bid documents 69,177 139,168 547,345,431 1,032,517,455 Disbursements: Project Expenditure (627,103,609) (949,029,658) Bank charges (1 95,682) (194,6991 (627,299,291) (949,224,357) Closing balance at period end 31,492,391 _ 111,446,251 VI WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix VI Supplementary Schedule of Special Account Statement Depository Bank Treasury Account Address Tirane Currency LEK Period from Period from 1 January to 31 1 January to 31 December December 2019 2018 Opening balance - . Funds received: Funds from Government VAT 133,337,012 271,982,715 133,337,012 271,982,715 Disbursements: Project Expenditure _133,337,012) (271,982,715 (133,337,012) (271.982,715) Closing balance at period end VII WATER RESOURCES AND IRRIGATION PROJECT For the period from 1 January to 31 December 2019 amounts are expressed in EUR unless otherwise stated Appendix VII Supplementary Schedule of Special Account Statement Depository Bank Treasury Account Address Tirane Currency LEK Period from Period from 1 January to 31 1 January to 31 December December 2019 2018 Opening balance Funds received: Funds from Government Local Cost 2,618,905 2,835,546 2,618,905 2,835,546 Disbursements: Funds transferred to Credins ALL - (1,748,944) Project Expenditure (2,618,905) (1,086,589) (2,618,905) (2,835,533) Closing balance at period end VIII