“Second Public Employment for Sustainable Agriculture and Water Resources Management Project” Grant No. H823-TJ, Grant No. TF 013997, Grant No. D081-TJ, Credit No. 5697-TJ The project financial statements for the year ended December 31, 2018 and independent auditors’ report “SECOND PUBLIC EMPLOYMENT FOR SUSTAINABLE AGRICULTURE AND WATER RESOURCES MANAGEMENT PROJECT” GRANT NO. H823-TJ, GRANT NO. TF 013997, GRANT NO. D081-TJ, CREDIT NO. 5697-TJ TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 2 INDEPENDENT AUDITORS’ REPORT 3-4 THE PROJECT FINANCIAL STATEMENTS 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 7-17 65 Stefan cel Mare şi Sfânt Blvd 5th Floor, Office 507 2001 Chisinau Moldova T: +373 22 233003 F: +373 22 234044 info@bakertilly.md www.bakertilly.md INDEPENDENT AUDITORS’ REPORT To the management of the Project “Second Public Employment for Sustainable Agriculture and Water Resources Management Project” under the Agency for Melioration and Irrigation under the Government of the Republic of Tajikistan and the State Committee on Investments and Government Property Management of the Republic of Tajikistan: Report on the project financial statements Opinion [1] We have audited the project financial statements of the Project “Second Public Employment for Sustainable Agriculture and Water Resources 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 year ended December 31, 2018, and a summary of significant accounting policies and other explanatory information (the “project financial statements”). [2] 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 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 Public 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 [3] 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 (the “IESBA Code”) together with the ethical requirements that are relevant to our audit of the project 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 [4] We draw attention to the Note 9 “Statement of designated account” which represents cash balances in the amount of 73,258 US dollars as at December 31, 2018 in OJSC Tojiksodirotbank (the "Bank"). Due to the Bank’s difficulties with liquidity, the Project had limited access to funds in its accounts and therefore, there were no movements on the account during the year of 2018. [5] Without 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 [6] 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. ADVISORY  ASSURANCE  TAX ICS Baker Tilly Klitou & Partners SRL trading as Baker Tilly is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. 3 “SECOND PUBLIC EMPLOYMENT FOR SUSTAINABLE AGRICULTURE AND WATER RESOURCES MANAGEMENT PROJECT” GRANT NO. H823-TJ, GRANT NO. TF 013997, GRANT NO. D081-TJ, CREDIT NO. 5697-TJ NOTES TO THE PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (in US dollars) 1. GENERAL INFORMATION According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated February 5, 2013, the IDA provided a Grant No. H823-TJ in the amount of 11,700,000 Special Drawing Rights to the Republic of Tajikistan. In accordance with the Grant Agreement between the Republic of Tajikistan and the Global Agriculture and Food Security Multi-Donor Trust Fund (the “GPAFS”) dated February 5, 2013, GPAFS Trust Fund provided Grant No. TF 013997 in the amount of 27,900,000 US dollars to the Republic of Tajikistan. According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated August 7, 2015, the IDA provided a Grant No. D081-TJ in the amount of 3,900,000 Special Drawing Rights to the Republic of Tajikistan. According to the Financing Agreement between the Republic of Tajikistan and International Development Association (the “IDA”, “World Bank”) dated August 7, 2015, the IDA provided a Credit No. 5697-TJ in the amount of 4,700,000 Special Drawing Rights to the Republic of Tajikistan. The Grants and the Credit were provided for implementation of the Project “Second Public Employment for Sustainable Agriculture and Water Resources Management Project” (the “Project”). Project purpose The objective of the Project is to improve food security: • In the short-run – by creation of temporary workplaces; • In the mid-run – by increasing crop production and farmers’ income due to the rehabilitation of the irrigation and drainage infrastructure; • In the long-run – by increasing the efficiency of water resources management. Initially the Project had to be implemented during 2013-2018, however in accordance to amendment to financing agreements No.H823-TJ and TF 013997 and the financing agreements No. D081-TJ and No. 5697-TJ the closing date of the Project was extended until February 28, 2020. The Project was also restructured in response to the devastating floods in the region of Gorno-Badakhshan Autonomous Oblast based on the proposal of the Government of the Republic of Tajikistan. The Project comprises 3 components: 1. Component I: Public works and rehabilitation of irrigation and drainage infrastructure; 2. Component II: Technical assistance for the purpose of Improvement of the Strategy and Implementation of Institutional reform in the sphere of Water Resources Management; 3. Component III: Project implementation. Component I: Public works and rehabilitation of irrigation and drainage infrastructure. This component consists of 3 subcomponents: Subcomponent Ia: This subcomponent finances creation of short-term employment for renovating and rehabilitating оn-fаrm irrigation canals in areas with food insecurity and the provision of equipment. This subcomponent finances manual cleaning of secondary and tertiary irrigation canals in fourteen districts of Khatlon region (A. Djomi, Dj. Rumi, Djilikul, Vose, Khuroson, N.Khusrav, MSA Khamadoni, Javon, Pyandj, Qabodiyon, Shahritus, Vakhsh, Qumsangir, and Dangara) and three districts of Republican Subordination (Vahdat, Rudaki and Hissar). Additional costs include payment of taxes which are withheld from the employer to the social security fund (25% of salary), as well as procurement and allocation of instruments of labor to perform manual works, materials and services. 7 Subcomponent Ib: This subcomponent finances the lease or procurement of machinery and equipment (excavators, bulldozers and equipment for subsurface drainage), the procurement and installation of an irrigation flow regulating valves, the reconstruction of buildings, repair of water supply systems, pumping stations, and vertical drainage and wells, mechanical clearing of collector and drainage network. Subcomponent Ic: This subcomponent finances the emergency restoration works of flood channel, which flows through the city of Kulyab and protects it from floods and reduces the associated risks for agricultural land and irrigation systems, and emergency works on Pyanj river right bank in Hamadoni district and Gund river left bank in Shughnon district. Component II: Assistance in water resources management, including technical assistance in implementation of legislative and institutional reform. This component includes the following subcomponents: Subcomponent IIa: This subcomponent finances all activities associated with further improvement of the regulatory framework to introduce the integrated water resources management system and promote reforms in the water sector. It focuses on further development of the legal basis for integrated water resource management and water sector reform, preparation of a national integrated water resource management strategy to identify priorities for improving water resource management in Tajikistan and establishing a national water information system. Subcomponent IIb: This subcomponent finances provision of technical assistance and training to implement river basin management in Kafernigan river basin. Subcomponent IIc: The Project will help the Government of Republic of Tajikistan to form autonomous, financially independent entities – suppliers of hydrotechnical melioration services, responsible for management of interfarm hydrotechnical assets and water supply to Water consumers association; transform existing regional and district institutions into the new institutional units; and building and strengthening the capacity of Water consumers association. Component III: Project implementation This component ensures support in establishment and activities of Project Management Unit (the “PMU”) in Dushanbe and regional Project Coordination Unit (the “PCU”) in Kurgan-Tube city and the region of Rudaki. Project management The Project is implemented by Fergana Valley Water Resource Management Project Management Unit (the “PMU”) that has the status of a legal entity and was established based on the Decree of the Government of the Republic of Tajikistan. Duration of the Project is from February 5, 2013 to February 28, 2020. 8 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 approach 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 The 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. The 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. Foreign currency Operations in foreign currency initially are counted in functional currency by the official currency exchange rate settled by the serving bank on a date of last conversion. 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. 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. All foreign exchange differences resulted from maturity or recounting are included in the summary of funds received and expenditures paid. 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. Balances of advances paid to employees at the end of the period are also part of closing cash position. 9 Taxes Calculation and payment of personal income tax and social security contributions from income of local staff and consultants is made in accordance with the requirements and rates of the Tax Code of the Republic of Tajikistan and relevant legislation of the Republic of Tajikistan. 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 advance 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. TF013997 USD 1,376,578 985,051 Designated account Credit No. 5697-TJ USD 189,323 - Designated account Grant No. H823-TJ USD 73,258 520,256 Designated account Grant No. D081-TJ USD - 260,239 Transit account Credit No. 5697-TJ TJS 1,363 - Transit account Grant No. TF013997 TJS 90 369 Transit account Grant No. H823-TJ TJS - 1,848 Transit account Grant No. D081-TJ TJS - 15 Cash on hand Grant No. TF013997 TJS 10 14 Cash on hand Credit No. 5697-TJ TJS 8 - Cash on hand Grant No. H823-TJ TJS - 100 Tender accounts TJS 3,149 2,386 Account for interest accrued TJS 4 4 1,643,783 1,770,282 5. PROJECT EXPENSES The Project expenses by components are presented in the summary of expenditures paid by project components. The Project expenses on major categories are presented in the summary of funds received and expenditures paid. Breakdown of the Project expenses by categories and nature is presented as follows: Works under part A For the year ended December 31, 2018 Grant Grant Grant Credit No. H823-TJ No. TF 013997 No. D081-TJ No. 5697-TJ Mechanized works 196,185 927,845 500,837 2,206,263 Hand works - - 520,827 429,328 Restoration works of flood channel - Tebalai river 143,550 130,815 - - 339,735 1,058,660 1,021,664 2,635,591 10 For the year ended December 31, 2017 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Mechanized works 1,513,222 1,699,562 1,319,156 - Hand works - 479,900 538,454 - Restoration works of flood channel - Tebalai river 1,044,228 461,537 - - 2,557,450 2,640,999 1,857,610 - Cumulative Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Mechanized works 7,929,640 9,048,151 1,819,993 2,206,263 Hand works - 5,159,839 1,742,348 429,328 Restoration works of flood channel - Tebalai river 3,853,807 1,642,203 - - 11,783,447 15,850,193 3,562,341 2,635,591 Goods, non-consulting services, and consultancy services For the year ended December 31, 2018 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Consultancy services 192,154 694,982 41,804 215,263 Services 4,995 40,005 33,300 172,609 Purchase of fixed assets - - - - Payroll and related taxes - - 41,138 88,062 Fuel - 409,037 - 17,392 Bank fees - - 5,527 3,629 Other - - - - 197,149 1,144,024 121,769 496,955 For the year ended December 31, 2017 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Consultancy services 383,880 865,997 236,988 - Services 249,983 354,462 173,998 - Purchase of fixed assets - 20,000 - - Payroll and related taxes 26,760 47,662 124,403 - Fuel 71,367 120,109 61,613 - Bank fees 2,849 4,787 2,890 - Other 1,107 5,359 - - Consultancy services 735,946 1,418,376 599,892 - Cumulative Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Consultancy services 1,514,143 3,047,274 667,384 215,263 Services 1,508,946 2,414,496 231,641 172,609 Purchase of fixed assets 247,758 416,295 - - Payroll and related taxes 242,223 390,951 165,541 88,062 Fuel 311,772 977,559 61,613 17,392 Bank fees 34,229 53,731 8,417 3,629 Other 32,498 52,274 - - 3,891,569 7,352,580 1,134,596 496,955 11 Works under part B and trainings For the year ended December 31, 2018 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Construction of administrative offices of water users associations 4,810 59,153 204,495 59,393 Trainings - 2,320 - - 4,810 61,473 204,495 59,393 For the year ended December 31, 2017 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Construction of administrative offices of water users associations 60,146 60,590 312,659 - Trainings 783 783 - - 60,929 61,373 312,659 - Cumulative Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Construction of administrative offices of water users associations 657,962 712,921 731,789 59,393 Trainings 66,865 95,972 - - 724,827 808,893 731,789 59,393 Operating costs For the year ended December 31, 2018 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Payroll and related taxes - - 25,948 99,337 Fuel and maintenance of vehicles - 344 9,292 13,761 Business trips - 617 7,044 10,133 Communication - - 839 2,101 Bank fees - 534 279 1,784 Purchase of computer equipment - - 929 1,676 Stationery - - 300 1,134 Utilities - - 747 854 Repair and maintenance - - - - Other - 1,404 578 7,184 - 2,899 45,956 137,964 For the year ended December 31, 2017 Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Payroll and related taxes - 199,525 - - Fuel and maintenance of vehicles - 38,588 - - Business trips - 17,298 - - Communication - 4,291 - - Bank fees - 2,231 473 - Purchase of computer equipment - 4,951 - - Stationery - 3,021 - - Utilities - 4,222 - - Repair and maintenance - - - - Other - 18,366 782 - - 292,493 1,255 - 12 Cumulative Grant Grant Grant Credit No. H823-TJ No.TF 013997 No. D081-TJ No. 5697-TJ Payroll and related taxes - 693,432 25,948 99,337 Fuel and maintenance of vehicles - 144,035 9,292 13,761 Business trips - 62,963 7,044 10,133 Communication - 23,184 839 2,101 Bank fees - 11,793 3,023 1,784 Purchase of computer equipment - 18,900 929 1,676 Stationery - 25,262 300 1,134 Utilities - 17,360 747 854 Repair and maintenance - 49,694 - - Other - 81,207 1,360 7,184 - 1,127,830 49,482 137,964 6. FUNDS RECEIVED The funds received are presented by the following financing methods and source of financing: For the year ended December 31, 2018 Grant Grant Grant Credit Total No.H823-TJ No.TF 013997 No.D081-TJ No.5697-TJ Reimbursement of expenses 92,661 2,658,632 1,133,629 2,521,123 6,406,045 Advances received - - - 999,090 999,090 92,661 2,658,632 1,133,629 3,520,213 7,405,135 For the year ended December 31, 2017 Grant Grant Grant Credit Total No.H823-TJ No.TF 013997 No.D081-TJ No.5697-TJ Reimbursement of expenses 3,117,256 4,154,675 2,710,937 - 9,982,868 Advances received - - - - - 3,117,256 4,154,675 2,710,937 - 9,982,868 Cumulative Grant Grant Grant Credit Total No.H823-TJ No.TF 013997 No.D081-TJ No.5697-TJ Reimbursement of expenses 15,335,421 24,684,615 4,454,904 2,521,123 46,996,063 Advances 1,200,000 1,800,000 1,000,000 999,090 4,999,090 16,535,421 26,484,615 5,454,904 3,520,213 51,995,153 13 7. FINANCIAL POSITION Financial position as at December 31, 2018 and 2017 comprise: December 31, December 31, 2018 2017 ASSETS AND EXPENDITURES Cash and cash equivalents 1,643,783 1,770,282 Cumulative expenses 50,347,450 42,814,913 Foreign exchange loss 6,420 6,554 Other expenses 31,141 30,440 TOTAL ASSETS AND EXPENDITURES 52,028,794 44,622,189 FINANCING Funds received 51,995,153 44,590,018 Other income 33,641 32,171 TOTAL FINANCING 52,028,794 44,622,189 8. WITHDRAWAL APPLICATIONS Withdrawal applications for the year ended December 31, 2018 comprise: Source of Application Date Advance Goods and Total financing services, including audit, trainings and operating expenses Grant No. H823-TJ 34 April 30, 2018 - 92,661 92,661 35 November 29, 2018 - - - - 92,661 92,661 Grant No. TF013997 34 April 30, 2018 - 1,320,642 1,320,642 35 October 30, 2018 - 141,130 141,130 36 November 30, 2018 - 1,196,860 1,196,860 - 2,658,632 2,658,632 Grant No. D081-TJ 7 January 30, 2018 - 739,548 739,548 8 February 21, 2018 - 343,695 343,695 9 March 8, 2018 - 50,285 50,285 10 April 20, 2018 - 101 101 11 July 13, 2018 - - - - 1,133,629 1,133,629 Credit No. 5697-TJ 1 March 14, 2018 635,090 - 635,090 2 April 30, 2018 364,000 - 364,000 3 May 23, 2018 - 634,601 634,601 4 June 29, 2018 - 448,715 448,715 5 August 3, 2018 - 368,028 368,028 6 October 5, 2018 - 387,265 387,265 7 November 26, 2018 - 682,514 682,514 999,090 2,521,213 3,520,213 999,090 6,406,045 7,405,135 14 9. STATEMENT OF DESIGNATED ACCOUNT Statement of designated account for the year ended December 31, 2018 comprise: Designated accounts Grant No. H823-TJ Credit No.5697-TJ Grant No. H823-TJ Grant No. TF 013997 Grant No. D081-TJ Total Bank OJSC “Tojiksodirotbank” SSB of RT “Amonatbonk” SSB of RT “Amonatbonk” SSB of RT “Amonatbonk” SSB of RT “Amonatbonk” Currency US dollars US dollars US dollars US dollars US dollars Bank account 20206840600000401325 20206840601010101000 20202840201009101000 20206840301006101000 20206840601010101000 Bank’s location 47 Bekhzod str., 24 Lokhuti str., 24 Lokhuti str., 24 Lokhuti str., 24 Lokhuti str., Dushanbe, 734013, Dushanbe, 734013, Dushanbe, 734013, Dushanbe, 734013, Dushanbe, 734013, Republic of Tajikistan Republic of Tajikistan Republic of Tajikistan Republic of Tajikistan Republic of Tajikistan Balance as at January 1, 2018 73,258 - 446,998 985,051 260,239 1,765,546 Advances received - 999,090 - - - 999,090 Reimbursement of expenses - 2,521,213 92,661 2,658,632 1,133,629 6,406,045 Total funds received to the designated account - 3,520,213 92,661 2,658,632 1,133,629 7,405,135 Expenses paid - 10,010 3,200 99,505 - 112,715 Transfer between accounts - 3,320,880 536,459 2,167,600 1,393,868 7,418,807 Balance as at December 31, 2018 73,258 189,323 - 1,376,578 - 1,639,159 15 10. UNDRAWN FUNDS As at December 31, 2018 undrawn funds are presented as follows: Grant Grant Grant Credit No. H823-TJ No. TF 013997 No. D081-TJ No. 5697-TJ in SDR in USD in SDR in SDR Approved financed amount 11,700,000 27,900,000 3,900,000 4,700,000 Disbursed for the period from February 5, 2013 to December 31, 2018 11,700,000 26,484,615 3,900,000 2,491,173 Undrawn financed amount - 1,415,385 - 2,208,827 Funds received as at January 1, 2018 11,635,553 23,825,983 3,120,025 - Disbursed in 2018 64,447 2,658,632 779,975 2,491,173 Funds received as at December 31, 2018 - 1,415,385 - 2,208,827 11. 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 # Currency Contract Paid up to Remaining value December 31, amount to be 2018 paid LLC “Dehoti” PAMPII.ICB.G-001 USD 1,284,045 256,809 1,027,236 LLC “Bunyodi Istiklol” PAMPII-NCB-114 USD 474,855 454,116 20,739 LLC "Oyanda Sohtmon- 2015" PAMPII-NCB-111 USD 441,052 293,803 147,249 LLC “Obi dekhot" PAMPII-NCB-123 USD 428,178 240,116 188,062 LLL “Bunyodkor 2010" PAMPII-NCB-076 USD 409,011 216,820 192,191 LLL “Abbociyon" PAMPII-NCB-116 USD 399,695 195,522 204,173 PO “Ob Baroi Rushdi Ustuvor “OBRU"" PAMPII-CQS-050 USD 374,944 199,500 175,444 LLC “Sozanda 2014” PAMPII-NCB-074 USD 331,129 322,969 8,160 LLC “Shabruz" PAMPII-NCB-104 USD 326,988 216,259 110,729 OJSC “Ob Sohtmon" PAMPII-NCB-110 USD 315,383 285,026 30,357 LLL “Muiraki" PAMPII-NCB-124 USD 315,253 182,748 132,505 LLC “Shabruz" PAMPII-NCB-113 USD 314,607 298,163 16,444 LLL “Azap" PAMPII-NCB-115 USD 312,174 223,466 88,708 LLC “Obi dekhot” PAMPII-NCB-109 USD 301,931 290,206 11,725 LLL “Sorbon service prokat” PAMPII-NCB-120 USD 299,958 195,846 104,112 LLC “Terai 21” PAMPII-CQS-051 USD 260,225 161,700 98,525 LLC “Inkishof 2013” PAMPII-SHW-107 USD 197,817 190,059 7,758 LLC “Durahsh” PAMPII-SHW-122 USD 188,523 181,197 7,326 PO “Amon” PAMPII-SSS-003 USD 187,741 98,452 89,289 PAMPII-NCB-G- LLC “Pixel” 003 USD 184,923 17,392 167,531 PO “Istochnik zhizni” PAMPII-SSS-002 USD 173,600 53,772 119,828 LLC “Dusti-A” PAMPII-CQS-024 USD 172,059 148,628 23,431 LLC “BINOKOR 2010.2” PAMPII-SHW-101 USD 142,523 136,925 5,598 PO “Amon” PAMPII-SSS-008 USD 139,668 20,950 118,718 PO “Istochnik zhizni” PAMPII-SSS-009 USD 131,139 19,671 111,468 16 LLC “Bunyod Loikha” PAMPII-CQS-049 USD 123,194 100,638 22,556 LLL “Muiraki” PAMPII-NCB-121 USD 119,635 105,881 13,754 PO “Markazi tashabbusi chomeavii” - “Vasl” PAMPII-CQS-043 USD 97,325 76,983 20,342 LLC “Bunyod Loikha” PAMPII-CQS-034 USD 90,059 73,112 16,947 LLC “Loikha va kadastri zamin” PAMPII-SSS-007 USD 72,980 55,233 17,747 PO “Vodii Vakhsh” PAMPII-CQS-054 USD 63,579 8,600 54,979 LLC “Dusti-A” PAMPII-CQS-053 USD 30,044 6,009 24,035 PO “Amon” PAMPII-CQS-056 USD 30,024 12,010 18,014 LLL “Diloshub” PAMPII-CQS-052 USD 30,003 6,001 24,002 PAMPII-SHW-SG- WUA “Gairat” WUA-004/4 USD 4,554 4,098 456 PAMPII-SHW-SG- WUA “Khushob” WUA-002/01 USD 4,554 4,098 456 WUA “Hazorchashma- PAMPII-SHW-SG- RK” WUA-005/02 USD 4,554 4,098 456 PAMPII-SHW-SG- WUA “Chashmai Zulol” WUA-005/04 USD 4,554 4,098 456 PAMPII-SHW-SG- WUA “Mehnati Sof” WUA-004/7 USD 4,554 4,098 456 PAMPII-SHW-SG- WUA “Vakh” WUA-005/06 USD 4,554 4,098 456 12. LEGAL CASES There were no any legal cases related to the Project. 13. EVENTS AFTER THE REPORTING DATE During 2018 until the date of issue of these project financial statements, the World Bank provided financing to the Project as follows: Financing methods Date Application Grant Credit No. TF 013997 No. 5697-TJ Reimbursement of expenses February 8, 2019 37 175,748 - Reimbursement of expenses April 10, 2019 38 308,243 - Reimbursement of expenses February 8, 2019 9 - 808,397 Reimbursement of expenses March 29, 2019 10 - 542,573 Reimbursement of expenses May 31, 2019 11 - 424,340 483,991 1,775,310 As at the date of issue of the project financial statements no other significant events or transactions occurred which should be disclosed in the project financial statements. 17