“Integrated Forest Ecosystem Management Project” Grant No. D095-KG, Credit No. 5743-KG, Grant No. TF0A0750 Project financial statements for the period from April 28, 2017 to December 31, 2017 and for the year ended December 31, 2018 and independent auditors’ report “INTEGRATED FOREST ECOSYSTEM MANAGEMENT PROJECT” GRANT NO. D095-KG, CREDIT NO. 5743-KG, GRANT NO. TF0A0750 TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE PROJECT FINANCIAL STATEMENTS FOR THE PERIOD FROM APRIL 28, 2017 TO DECEMBER 31, 2017 AND FOR THE YEAR ENDED DECEMBER 31, 2018 2 INDEPENDENT AUDITORS’ REPORT 3-4 PROJECT FINANCIAL STATEMENTS FOR THE PERIOD FROM APRIL 28, 2017 TO DECEMBER 31, 2017 AND FOR THE YEAR ENDED DECEMBER 31, 2018: Summary of funds received and expenditures paid 5 Summary of expenditures paid by project components 6 Notes to the project financial statements 7-16 "lNTEGRATED FOREST ECOSYSTEM MANAGEMENT PROJECT" GRANT No. D095-KG, cREDlT No. 5743_KG, GRANT No. тFOА0750 STATEMENT оF MANAGEMENT,S RESPoNSlBlLlTlES FоR тнЕ PREPARAT|oN AND APPROVAL ОF ТНЕ PROJECT FlNANClAL STATEMENTS FОR FoR тнЕ PERloD FRом APR|L 28, 2017 то DEсEMBER 31, 2017 AND FоR тнЕ YEAR ENDED DEсEMBER 31,2018 The following statement, which Should Ье read in conjunction with the independent auditors' responsibilitieS Stated in the independent auditors' report iS made With а view to distinguiýh the respective responýibilities of management and those of the independent auditors iп relation to the project financial statements of the Project 'lntegrated forest ecosystem management рrоjесt", Grant No. D095-KG, credit No. 5743-KG, Grапt No. ТFOА0750 (the "Project"). Management iý rеsропsiЬlе fоr the рrераrаtiоп of the project financial Statements that present fairly, in all material rеsресts, the summary of funds received and expenditures paid апd and the SUmmary of expenditures paid Ьу project соmропепts of the Pro]ect fоr the period frоm April 28,2017 lo December 31, 2017 and for the уеаr ended December 31 , 2018 in ассоrdапсе with International Public Sector Accounting Standard "Fiпапсiаl Reporting Under the caSh BaSiS of Accounting" (the "lPSAS") isSued Ьу the lnternational Public Accounting Standards Board of the lnternational Fеdеrаtiоп of AccountantS and the World Bank's Fiпапсiаl Мапаgеmепt Sector Board'S "GUidelines: АппUаl Fiпапсiаl Rероrtiпg and AUditing for World Bank Fiпапсеd ActavitieS" (the "WB GuidelineS"). lп preparin9 the project financial Statements, management is responsible fог selecting suitable accoUntin9 policies and applying them conýiýtently; making judgments and estimates that are rеаsопаЬlе and рrчdепt; stating Whether |PSAS and WB Guidelines hаче Ьееп followed, subject to any material departures diýclosed апd explained in the project financial statements; and рrераriпg the project financial Statements оп а 9оiп9 сопсеrп basis, unless it iS inappropriate to presume that the Project Will continue its activity for the fоrеsееаЬlе future. Management iS alSo rеsропsiЬlе for designing, implementing and maintaining effective and sound system of internal сопtrоl and for revealing risks in system of internal сопtrоl; maintaining рrореr accountin9 rесоrdS that diSclose, With reaSonable accuracy at any time, the financial position of the Project, and Which епаЬlе them to ensure that the project financial Statements of the Project соmрlу With lPSAS and WB Guidelines, соmрliапсе With laWS and regU|ataonS of the Kyrgyz Republic, апd the requirements of the operational Manual of the Project and the requiгements of the World Вапk; taking such Steps aS аrе reasonably available to them to Safeguard the aSSetS of the Project; and detecting and preventing fraUd and other irregularitieS. The project financial Statements for the реriоd frоm Арril 28, 2017 lo December 31 , 2017 and fоr the уеаr ended December 31, 2018 Wеrе approved and authorized fоr issue оп April 26, 2019 Ьу the mапаgеmепt of the Project. tс оп behalf of zholdosh ova zhanu ova А.в. Director Financial manager Арril 26, 2019 Арril 26, 2019 BiShkek, the Kyrgyz Republic BiShkek, the Куrgуz Republic 2 103, Ibraimov str. T: +996 (312) 90 05 05 BC "Victory", 7th floor F: +996 (312) 91 05 05 Bishkek, 720011 contact@bakertilly.kg Kyrgyz Republic www.bakertilly-ca.com INDEPENDENT AUDITORS’ REPORT To the Management of the Project “Integrated forest ecosystem management project” under the State Agency for Environmental Protection and Forestry of the Kyrgyz Republic: Report on the project financial statements Opinion We have audited the accompanying project financial statements of the Project “Integrated forest ecosystem management project” (the “Project”) which comprise the summary of funds received and expenditures paid and the summary of expenditures paid by project components for the period from April 28, 2017 to December 31, 2017 and for the year ended December 31, 2018, and a summary of significant accounting policies and other explanatory information (the “project financial statements”). In our opinion, the accompanying project financial statements present fairly, in all material respects, the summary of funds received and expenditures paid and the summary of expenditures paid by project components of the Project for the period from April 28, 2017 to December 31, 2017 and for the year ended December 31, 2018 in accordance with International Public Sector Accounting Standard “Financial Reporting Under the Cash Basis of Accounting” (the “IPSAS”) issued by the International P ublic Sector Accounting Standards Board of the International Federation of Accountants, and the World Bank’s Financial Management Sector Board’s “Guidelines: Annual Financial Reporting and Auditing for World Bank Financed Activities” (the “WB Guidelines”). 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 project financial statements section of our report. We are independent of the Project 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 financial statements, and we have fulfilled our other 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. Emphasis of matter Without further qualifying our opinion, we draw attention to Note 2 to the project financial statements, which describe the basis of accounting. These project financial statements were prepared for complying with the appropriate World Bank Guidelines and Financing and Grant agreements requirements. Other matter The project financial statements are prepared to assist the Project to comply with the requirements of the World Bank. As a result, the project financial statements may not be suitable for another purpose. Responsibilities of management and those charged with governance for the project financial statements Management is responsible for the preparation and fair presentation of these project financial statements in accordance with International Public Sector Accounting Standard “Financial Reporting Under the Cash Basis of Accounting” (the “IPSAS”) issued by the International Public Accounting Standards Board of the International Federation of Accountants, and the World Bank’s Financial Management Sector Board’s “Guidelines: Annual Financial Reporting and Auditing for World Bank Financed Activities” (the “WB Guidelines”), and for such internal control as management determines is necessary to enable the preparation of the project financial statements that are free from material misstatement, whether due to fraud or error. 3 "lNTEGRATED FOREST ECOSYSTEM MANAGEMENT PROJECT" GRANT No. D095_KG, cREDlT No. 5743-KG, GRANT No. тFOА0750 SUMMARY ОF FUNDS RECE|VED AND EXPEND|TURES PAlD FоR тнЕ PERloD FRoM APR|L 28, 20l7 то DEсEMBER 31,2017 AND FoR тнЕ YEAR ENDED DECEMBER 31, 2018 /л US Dоl/аБ) Notes For the year Fоr the period cumulative ended from April 28, December З1, 2017 to 2018 December 31, 2017 opening Ьаlапсе 4 580,299 Funding sources Gгапt No D095_KG 5 206,195 469,2з2 67 5 427 Gгапt No, тFOАo750 5 а42 32з,942 601 984 Total financing 4в4 793 174 1 ,277 ,411 оthег iпсоmе 6 14 199 5 586 19 185 Total receipts 498 798 760 1,297,196 Prolect expenseý Goods, Works, consUltants' Servace, non-consulting Services, tгаiпiпg and орегаtiпg costs 7 627 s52 217 636 845 588 Total project ехрепSеs 627 952 217 636 588 other expenSeS 1,631 829 2,460 Net loss/(gain) оп foreign ехсhапgе з (4) (1) closing Ьаlапсе 4 449 149 580,299 449 149 оп beha й ld os zhanuzakova А.в. Directo r Fiпапсiаl mапаgеr Арril 26, 20 April 26, 2019 BiShkek, the Куrgуz Republic BiShkek, the Куrgуz Republic The noles оп pages 7-16 form ап iпtеgгаl part of the project flnancial statements The independent auditoБ'гepo.t iS on pages 3-4. 5 "lNTEGRATED FOREST ECOSYSTEM MANAGEMENT PROJECT" GRANT No. D095-KG, cREDlT No. 5743_KG, GRANT No. тFOА0750 SUMMARY ОF EXPEND|TURES PAlD BY PROJECT COMPONENTS FоR тнЕ PERloD FRoM APR|L 28, 2017 то DEсEMBER 31, 2017 AND FoR тнЕ YEAR ENDED DEсEMBER 3.|, 2018 (iп US DollaБ) For the уеаr Fоr the period сum ulаtiче ended from April 28, December З1, 2017 to 20,18 December 3l, 2017 рагt 1: Fоrеst sector institutional rеfоrm 95,364 27,745 123,109 Рагt 2: Strategic investments апd piloting of SUStainable mапа9еmепt approacheS 348,864 2,529 з5l,з93 Рагt 3: lпfогmаtiоп and monitoring and evaluation 59.з95 5,602 64,997 Раrt 4: Pгoject mапаgеmепt, mопitоraп9 and evaluation 181 з06 089 627 ,952 217 бзб 845,588 w оп Ье t: о zhanuzakova А.в. Dire ]a Financial manager a Арril 26, Арril 26, 2019 BiS h kek, the BiShkek, the Kyrgyz Republic The notes on pages 7-16 fогm ап iпlеgrаl раrl ofthe рФесt financjal statements The independenI auditorý'report is оп pages З_4, 6 “INTEGRATED FOREST ECOSYSTEM MANAGEMENT PROJECT” GRANT NO. D095-KG, CREDIT NO. 5743-KG, GRANT NO. TF0A0750 NOTES TO THE PROJECT FINANCIAL STATEMENTS FOR THE PERIOD FROM APRIL 28, 2017 TO DECEMBER 31, 2017 AND FOR THE YEAR ENDED DECEMBER 31, 2018 (in US Dollars) 1. GENERAL INFORMATION According to the Financing Agreement between the Kyrgyz Republic and International Development Association (the “IDA”) signed on January 18, 2016, the IDA provided a Grant No. D095-KG in the amount of 3,900,000 Special Drawing Rights (the “SDR”) and a Credit No. 5743-KG in the amount of 4,800,000 SDR to the Kyrgyz Republic. According to the Grant Agreement between the Kyrgyz Republic and International Bank for Reconstruction and Development acting as an implementing agency of the Global Environment Facility (the “GEF”) signed on January 18, 2016, the GEF provided a Grant No. TF0A5750 in the amount of 4,109,589 US dollars to the Kyrgyz Republic. The Grants and the Credit were provided for implementation of the Project “Integrated forest ecosystem management project” (the “Project”). Project purpose The objective of the Project is to strengthen the capacity of the Government institutions and communities to improve sustainable forest ecosystem management through investments in management planning, ecosystem restoration and infrastructure. The Project comprises the following parts: Part 1: Forest sector institutional reform; Part 2: Strategic investments and piloting of sustainable management approaches; Part 3: Information and monitoring and evaluation; Part 4: Project management, monitoring and evaluation. Part 1: Forest sector institutional reform a) Support the implementation of institutional reforms for the forestry sector including: (i) planning, budgeting and monitoring of Leskhozes’ operations; and, (ii) harmonization of regulations, specifically in relation to the adoption of unified use of forest resources including pasture use. b) Carry out a national public awareness campaign to improve natural resource governance and promote more sustainable natural resource management systems. c) Support designated government agencies working on land issues in defining land boundaries for Leskhozes, as applicable. d) Build capacity of the relevant government institutions of the Recipient, at all levels with regard to the new approaches to natural resources management. Part 2: Strategic investments and piloting of sustainable management approaches a) Design and prepare the Integrated Natural Resource Management Plan (the “INRMPs”) including i) drafting guidelines for the preparation of INRMPs, ii) assisting participating Leskhozes to prepare INRMPs and iii) preparing Annual Operational Plans. b) Provide support to participating Leskhozes to implement investments on land use management practices and alternative livelihood opportunities, including inter alia, afforestation, nursery construction, pasture management plans, rehabilitations of existing bridges and roads, all as set forth in INRMPs. c) Carry out activities to asses and restore municipal degraded forest including i) preparing plans to identify key reforestation investments and ii) supporting implementation of said identified investments. Part 3: Information and monitoring and evaluation a) Update the National Forest Inventory through the analysis of data, including inter alia, new satellite imagery, geographic information system and remote sensing data to define land use types within the territory of the Recipient. 7 b) Develop and implement improvements to the existing Forest Management Information System. c) Carry out research studies on the factors which affect forest resources including: i) approaches to accounting for all the costs and returns associated with the natural capital of the ecosystems, and ii) strategic measures on climate change adaptation strategies. Part 4: Project management, monitoring and evaluation Strengthen the institutional capacity of the State Agency for Environmental Protection and Forestry of the Kyrgyz Republic on project management and implementation through a) establishing a Project Implementation Unit, b) providing training and building technical capacity of said PIU on project management, supervision, monitoring and evaluation of Project activities, c) carrying out of Project Audits, d) acquisition of office equipment and vehicles for the Project and f) financing of Operating Costs. Project management The Management is implemented by the Project Implementation Unit (the “PIU”) under the State Agency for Environmental Protection and Forestry of the Kyrgyz Republic. The project duration period is from April 28, 2017 to September 30, 2021. 2. PRESENTATION OF THE PROJECT FINANCIAL STATEMENTS Basis of preparation These project financial statements have been prepared in accordance with the International Public Sector Accounting Standard (the “IPSAS”) “Financial Reporting under the Cash Basis of Accounting” issued by the Public Sector Committee of the International Federation of Accountants, and incorporate the following principal accounting policies, which have been consistently followed in all material respects and comply with the World Bank’s Financial Management Sector Board’s “Guidelines: Annual Financial Reporting and Auditing for World Bank Financed Activities” (the “WB Guidelines”). Under the cash basis system income (or expenditure) is recognized when cash is received (or paid) irrespective of when goods or services are received or provided. The Project’s approved budget disclosed by categories of expenses is not publicly available and as such comparison of budget and actual amounts is not presented. These project financial statements consist of: • Summary of funds received and expenditures paid; • Summary of expenditures paid by project components; • Notes to the project financial statements, including short description of main statements of accounting policy and other descriptive notes. The reporting currency of these project financial statements is US dollars (the “USD”). 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash basis of accounting Project financial statements are prepared on a cash basis of accounting. The cash basis of accounting recognizes transactions and events only when cash (including cash equivalents) is received or paid by the Project. Project financial statements prepared under the cash basis provide readers with information about the sources of cash raised during the period, the purposes for which cash was used and the cash balances at the reporting date. The measurement focus in the project financial statements is balances of cash and changes therein. 8 Foreign currency Operations in foreign currency initially are counted in functional currency by the currency exchange rate settled by commercial bank on a date of operation. Funds received are translated into US dollars at official exchange rate of Special Drawing Rights (the “SDR”) at the date of funds receipt. All payments made in local currency are translated into US dollars at the official exchange rate defined by the serving bank, at the date of last conversion. All payments made in local currency are translated into US dollars at the official exchange rate defined by serving commercial bank at the date of transaction. Monetary assets and liabilities expressed in foreign currency are converted to functional currency at official exchange rate on a date settled by the serving bank. Non-monetary items are valued according to their historic cost in foreign currency, which are recalculated on rates of the initial operation date. Cash and cash equivalents Cash and cash equivalents include cash on hand and due from banks, which can be converted to the corresponding amount of cash in the short term. Taxes Calculation and payment of personal income tax and social security contributions from income of staff and consultants is made in accordance with the requirements and rates of the Tax Code of the Kyrgyz Republic and relevant legislation of the Kyrgyz Republic. Project expenses The expenses are recorded in the period when they were actually paid. Sources of funds The funds were provided by the World Bank to the Project by initial deposit and replenishment of designated account. 4. CASH AND CASH EQUIVALENTS Cash and cash equivalents as at December 31, 2018 and 2017 comprise: Source of financing Currency December 31, December 31, 2018 2017 Designated account Grant No. D095-KG US dollar 268,212 285,494 Designated account Grant No. TF0А0750 US dollar 163,612 289,651 Interest account Grant No. TF0А0750 US dollar 9,546 2,920 Interest account Grant No. D095-KG US dollar 7,774 1,836 Interest account Grant No. D095-KG Kyrgyz som 3 - Interest account Grant No. TF0А0750 Kyrgyz som 2 1 Transit account Grant No. TF0А0750 Kyrgyz som - 344 Cash on hand Grant No. D095-KG Kyrgyz som - 53 449,149 580,299 9 5. FUNDS RECEIVED The funds received were provided by the following methods and sources of financing: For the year ended December 31, 2018 Grant No. Grant No. Total Financing method D095-KG TF0А0750 Initial deposit - - - Replenishment of designated account 206,195 278,042 484,237 206,195 278,042 484,237 For the period from April 28, 2017 to December 31, 2017 Grant No. Grant No. Total Financing method D095-KG TF0А0750 Initial deposit 300,000 300,000 600,000 Replenishment of designated account 169,232 23,942 193,174 469,232 323,942 793,174 Cumulative Grant No. Grant No. Total Financing method D095-KG TF0А0750 Initial deposit 300,000 300,000 600,000 Replenishment of designated account 375,427 301,984 677,411 675,427 601,984 1,277,411 6. OTHER INCOME Other income represents interest income accrued by the serving bank on the outstanding balances of cash on designated accounts. 10 7. PROJECT EXPENSES The Project expenses by major categories are presented in the summary of funds received and expenditures paid. The Project expenses by components are presented in the statement of expenditures paid by project components. Breakdown of project expenses by sources of financing, sub-categories and nature is presented as follows: For the year ended December 31, 2018 Grant No. Grant No. Total D095-KG TF0А0750 Consultant's services 63,134 395,356 458,490 Operating costs Payroll of PIU staff 76,385 - 76,385 Contributions to Social Fund of the Kyrgyz Republic 21,863 - 21,863 Fuel, registration and car maintenance 2 4,125 4,127 Advertisement costs 2,813 - 2,813 Business trip 2,388 - 2,388 Cleaning services 873 - 873 Internet connection and communication costs 825 - 825 Stationery 762 - 762 Other 10,685 - 10,685 Goods 33,152 - 33,152 Training 10,648 4,941 15,589 223,530 404,422 627,952 For the period from April 28, 2017 to December 31, 2017 Grant No. Grant No. Total D095-KG TF0А0750 Consultant's services 508 2,529 3,037 Operating costs Payroll of PIU staff 48,044 - 48,044 Contributions to Social Fund of the Kyrgyz Republic 9,329 - 9,329 Fuel, registration and car maintenance 277 2,865 3,142 Business trip 1,365 - 1,365 Stationery 1,072 - 1,072 Advertisement costs 567 - 567 Cleaning services 507 - 507 Internet connection and communication costs 448 - 448 Other 5,329 - 5,329 Goods 89,004 8,937 97,941 Training 27,237 19,618 46,855 183,687 33,949 217,636 11 Cumulative Grant No. Grant No. Total D095-KG TF0А0750 Consultant's services 63,642 397,885 461,527 Operating costs Payroll of PIU staff 124,429 - 124,429 Contributions to Social Fund of the Kyrgyz Republic 31,192 - 31,192 Fuel, registration and car maintenance 279 6,990 7,269 Business trip 3,753 - 3,753 Advertisement costs 3,380 - 3,380 Stationery 1,834 - 1,834 Cleaning services 1,380 - 1,380 Internet connection and communication costs 1,273 - 1,273 Other 16,014 - 16,014 Goods 122,156 8,937 131,093 Training 37,885 24,559 62,444 407,217 438,371 845,588 8. FINANCIAL POSITION Financial position as at December 31, 2018 and 2017 is as follows: December 31, December 31, 2018 2017 ASSETS AND EXPENDITURES Cash and cash equivalents 449,149 580,299 Cumulative expenses 845,588 217,636 Other expenses 2,460 829 TOTAL ASSETS AND EXPENDITURES 1,297,197 798,764 FINANCING Funds received 1,277,411 793,174 Net gain on foreign exchange 1 4 Other income 19,785 5,586 TOTAL FINANCING 1,297,197 798,764 12 9. WITHDRAWAL APPLICATIONS Withdrawal applications for the period from April 28, 2017 to December 31, 2017 and for the year ended December 31, 2018 comprise of: Application Date Initial deposit Replenishment Total of designated account Sources of financing Grant No. D095-KG D0950-1 June 16, 2017 300,000 - 300,000 D0950-2 December 6, 2017 - 169,232 169,232 300,000 169,232 469,232 D0950-3 June 22, 2018 - 74,935 74,935 D0950-4 September 26, 2018 - 47,983 47,983 D0950-5 December 17, 2018 - 83,277 83,277 - 206,195 206,195 300,000 375,427 675,427 Grant No. TF0А0750 A0750-1 June 16, 2017 300,000 - 300,000 A0750-2 December 11, 2017 - 23,942 23,942 300,000 23,942 323,942 А0750-3 June 22, 2018 - 18,737 18,737 А0750-4 September 20, 2018 - 115,303 115,303 A0750-5 December 17, 2018 - 144,002 144,002 - 278,042 278,042 300,000 301,984 601,984 600,000 677,411 1,277,411 13 10. STATEMENT OF DESIGNATED ACCOUNT Statement of designated account for the period from April 28, 2017 to December 31, 2017 and for the year ended December 31, 2018 comprises: Designated accounts Grant No. Grant No. D095-KG TF0А0750 Currency US dollar US dollar Bank account 1091228235570436 1091228235570739 Bank OJSC “Optima Bank” Bank’s location 21/2 Logvinenko str., Bishkek, Kyrgyz Republic Total Balance as at April 28, 2017 - - - Initial deposit 300,000 300,000 600,000 Replenishment of designated account 169,232 23,942 193,174 Total funds received to designated account 469,232 323,942 793,174 Expenses paid 5,049 - 5,049 Transfer to transit account 174,769 34,291 209,060 Transfer to cash on hand 3,920 - 3,920 Balance as at December 31, 2017 285,494 289,651 575,145 Replenishment of designated account 206,195 278,042 484,237 Total funds received to designated account 206,195 278,042 484,237 Expenses paid 13,040 729 13,769 Transfer to transit account 210,437 401,862 612,299 Transfer to cash on hand - 1,490 1,490 Balance as at December 31, 2018 268,212 163,612 431,824 11. UNDRAWN FUNDS As at December 31, 2018, undrawn funds are presented as follows: Grant No. Credit No. Grant No. D095-KG 5743-KG TF0А0750 in SDR in SDR in USD Approved financing amount 3,900,000 4,800,000 4,109,589 Disbursed during the period from April 28, 2017 to December 31, 2017 336,940 - 323,942 Disbursed during the year ended December 31, 2018 147,514 - 278,042 Undrawn financing amount 3,415,546 4,800,000 3,507,605 Grant No. Credit No. 5743- Grant No. D095-KG KG TF0А0750 in SDR in SDR in USD Funds received as at April 28, 2017 - - - Disbursed during the period from April 28, 2017 to December 31, 2017 336,940 - 323,942 Disbursed during the year ended December 31, 2018 147,514 - 278,042 Funds received as at December 31, 2018 484,454 - 601,984 14 12. COMMITMENTS In the normal course of activities, the Project concludes agreements with suppliers of goods and services in accordance with the established budget and procurement plan. As at December 31, 2018 the Project had following commitments: Counterparty Contract # Cost per Contract Paid up to Remaining Contract Currency December 31, amount to be 2018 paid "Central-Asian Institute for Applied Geosciences" KG-IFEMP-CQS-FMIS-04- and Geotwo.Co. Ltd 2018 12,784,900 Kyrgyz Som 3,835,470 8,949,430 Razhapaev Muslim CS(Nat)-SSS-RTK- Kudusovich 03(1)/2018 340,400 Kyrgyz Som 100,000 240,400 Raimov Umut CS(Nat)-SSS-RTK- Bolotbekovich 03(2)/2018 311,650 Kyrgyz Som 145,000 166,650 Akmatova Altynai CS(Nat)-CCC/JFMC-02- Toktorbaevna 1(ИК)/2018 498,000 Kyrgyz Som 322,000 176,000 Naamatbekov Ulanbek CS(Nat)-CCC/JFMC-02- Kasybinovich 2(Нарын)/2018 458,000 Kyrgyz Som 246,300 211,700 Bektemirov Alymjan CS(Nat)-CCC/JFMC-02- Kazybaevich 3(Чуй-Талас)/2018 484,800 Kyrgyz Som 244,100 240,700 Ibraev Emilbek CS(Nat)-CCC/JFMC-02- Bekboevich 4(Ж-А)/2018 486,000 Kyrgyz Som 295,700 190,300 Ajimatov Ibragim CS(Nat)-CCC/JFMC-02- Mamytovich 5(Ош-Баткен) /2018 538,000 Kyrgyz Som 213,756 324,244 Zaharenkov Andrey Sergeevich CS(Int)-FA-01/2018 33,224 US dollars 14,075 19,149 Borsova Svetlana Valerevna CS(Nat)-FA-01/2018 493,500 Kyrgyz Som 304,250 189,250 Sabirova Janyl IC-005/2019 558,000 Kyrgyz Som 344,600 213,400 Jumaliev Kanybek IC-006/2019 613,800 Kyrgyz Som 375,600 238,200 IFMP-IC- TechExpert(landengeneer) Tajibaeva Sairagul -011/2018 235,000 Kyrgyz Som 180,000 55,000 Omurov Sultan IFMP-IC-Legal-010/2018 335,000 Kyrgyz Som 145,000 190,000 SSS-PIUdatabase-009- Suerkulov Almaz 2018 550,600 Kyrgyz Som 55,060 495,540 Kadyrov Arstanbek IC-MF_Regulatory- Soltobekovich 012/2018 450,000 Kyrgyz Som - 450,000 IC-MF_Facilitation- Mambetkulov Taalaibek 013/1/2018 475,000 Kyrgyz Som 118,560 356,440 Bektursunov Djaleibai IC-MF_Facilitation- Kasymovich 013/3/2018 475,000 Kyrgyz Som 124,100 350,900 Uraimov Alisher IC-MF_Facilitation- Nazarbekovich 013/2/2018 475,000 Kyrgyz Som 115,600 359,400 Burhanov Aitkul Mustafaevich IC-MF_Inventory-014/2018 200,000 Kyrgyz Som - 200,000 Kydykeeva Barchynai Kasymovna IC-PR-004/2018 892,800 Kyrgyz Som 119,040 773,760 Domashov Ilya IC-Capacity-014/2018 225,000 Kyrgyz Som - 225,000 Toitukov Kanatbek IC-Forest cultures- Abdrahmanovich 017/1/2018 517,000 Kyrgyz Som 29,000 488,000 Domaev Viktor IC-Forest cultures- Vladimirovich 017/2/2018 505,000 Kyrgyz Som 50,400 454,600 13. LEGAL CASES There were no any legal claims related to the Project. 15 14. EVENTS AFTER THE REPORTING DATE During 2019 until the date of issue of these project financial statements, the World Bank has replenished the designated account of the Project as follows: Date Replenishment of designated account in USD Sources of financing Grant No. D095-KG March 28, 2019 97,627 Grant No. TF0А0750 March 28, 2019 167,270 264,897 As at the date of issue of the project financial statements no significant events or transactions occurred which should be disclosed in the project financial statements, except for the events or transactions described above. 16 Baker Tilly Bishkek LLC trading as Baker Tilly is a member of the global Contact us network of Baker Tilly International Ltd., the members of which are 103, Ibraimov str., BC "Victory", separate and independent legal entities. 7th floor, Bishkek, 720011, Kyrgyz Republic © 2019 Baker Tilly www.bakertilly-ca.com