a. Sources and utilization of funds per category, in Euro 1

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1 Project n TF Interim Unaudited Financial Report 1st semester 2012 For the period ending June 30 th, Financial information for the semester ending June 30 th, 2012 a. Sources and utilization of funds per category, in Euro 1 Semester Cumulative 6 months Actual Budget Actual Budget Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per category (1) Goods, non-consulting services, consultants services, Training and Studies under components 1 and 2 of the Project (1.a) Goods, non-consulting services (1.b) Consulting Services and Studies (1.c) Trainings (2) Incremental operating costs Net evolution of Designated Account (disbursement received - total expenditures) * * Opening balance of the Designated Account Add net evolution of Designated Account * * Closing Balance of the Designated Account * * * Note: The net evolution and closing balance of the Designated Account are negative because Plan Bleu had received no advance payments or reimbursements from the grant proceeds on the designated account at the time when the expenses of the first semester occurred. In other words, during the reporting period, Plan Bleu has advanced from its own budget. 1 Initial forecasts and budget allocations have been converted from USD to EUR with the exchange rate 1USD=0,77223 EUR from January 24 th, 2012, date of the signature of the grant (oanda.com). 2 Due to long processes required to access resources from the trust fund, the Project s designated account has not yet been replenished. The first advance payment will soon be transferred to the Project s designated account. Interim Unaudited Financial Report 1st semester /08/2012 1

2 b. Sources and utilization of funds per component, in Euro 1 Semester Cumulative 6 months Actual Budget Actual Budget Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per component (1) Governance (2) Knowledge generation* (3) Project Coordination and Management Net evolution of Designated Account (disbursement received - total expenditures) Opening balance of the Designated Account Add net evolution of Designated Account Closing Balance of the Designated Account Component Activity c. Utilization of funds per component and per activity, in Euro 1 Initial Semester Cumulative Forecast Forecast Paid Forecast Paid (1) Governance Translation of PAD and PIM Steering Committee meeting Steering Committee meeting 2 Green growth conference participation + workshop (2) Knowledge generation* (3) Project Coordination and Management Lumpsum Non lumpsum Total project * Note: During the reporting period, no activities have taken place under component 2 Knowledge generation. Activities under this component are planned to be initiated during the next reporting period. 3 Eligible lumpsum expenses are : Plan Bleu staff salaries; strengthening of fiduciary capacities of Plan Bleu staff and related travels; local and international travels in relation to the implementation of the Project; electricity, phone, office supplies and equipment, software licenses, rental and maintenance of photocopy machines and computer equipment. 4 Eligible non lumpsum expenses are: Incremental Operating Costs related to strengthening of fiduciary capacities of Plan Bleu staff and related travels, and local and international travels in relation to the implementation of the Project; and the carrying out of the audits for the Project. Interim Unaudited Financial Report 1st semester /08/2012 2

3 Initial Allocation of Budget in USD, by component TOTAL Budget Governance Knowledge generation Project Coordination and Management d. Cumulated payments by component, in Euro 1 Component Allocated Engagements (signed contracts) % All. % All. % Engage ments (1) Governance % % 100% (2) Knowledge generation % 0 0% 0% (3) Project Coordination and Management % % 100% TOTAL % % 100% Categories e. Cumulated payments by category, in Euro 1 Initial Allocation (1) Engage ments semester Cumulated (2) / grant (2) / (1) en% (1) Goods, non-consulting services, consultant services, Trainings and Studies under Parts 1 and 2 of the Project % (1.a) Goods, non-consulting services N/A N/A (1.b) Consulting Services and Studies N/A N/A (1.c) Trainings N/A N/A (2) Incremental operating costs % TOTAL % Interim Unaudited Financial Report 1st semester /08/2012 3

4 Initial Allocation of Budget in USD TOTAL Budget (1) Goods, non-consulting services, consulting services, Trainings and Studies under components 1 and 2 of the Project (2) Incremental Operating Costs and audits under component 3 of the Project f. Brief description of the Project s progress during the reporting period The reporting period refers to the first semester of the Regional Governance and Knowledge generation Project (ReGoKo). Throughout this period, the activities financed under the ReGoKo were: the launch of the Project and the related translation of the PAD and PIM 5, two Project Steering Committee (PSC) meetings, the participation of about 30 stakeholders from the ReGoKo s eligible countries to the green growth conference-forum in Marseille and a subsequent workshop on green growth and the exploration of possibilities to bring forward the green growth agenda in the Mediterranean region under the ReGoKo. During the reporting period, other activities have been identified and are currently in the pipeline. More information on the activities can be found in the quarterly ReGoKo Project Reports. Throughout the first semester of implementation, around 4% of the grant proceeds have been disbursed, whereas the planned disbursement is 9% of the grant proceeds 6. The ReGoKo is therefore a little slow on disbursement which is the result of the efforts required to agree on implementation procedures that cater to the Beneficiaries, the World Bank s and Plan Bleu s needs at the same time. Expenses made during the reporting period have been advanced by Plan Bleu, as lengthy procedures to transfer the first advance payment to the Designated Account delayed the replenishment of the Designated Account. The Designated Account will however be replenished at the beginning of the next reporting period and advances made by Plan Bleu will be reimbursed. 5 PAD= Project Appraisal Document. PIM = Project Implementation Manual 6 The PAD prescribes a planned disbursement of 0, 27 million US$ for the World Bank fiscal year 2012 (ending June 30 th, 2012), which approximately equals 9% of the grant proceeds. Interim Unaudited Financial Report 1st semester /08/2012 4

5 1 2. Annex a. In-kind co-financing from the Center for Mediterranean Integration (CMI), in Euro Item Date Event (incl. tax) Simultaneous January Project Launch and Steering translation services 2012 Committee meeting Audio-visual 2 equipment January 2012 Project Launch and Steering Committee meeting Video-conference 7 29 March 2012 Project Steering Committee meeting 154 Simultaneous 4 translation services 22 May 2012 Project Steering Committee meeting Simultaneous 5 translation services 8 24 May 2012 Workshop Green Economy TOTAL Initially 205,00 USD. Exchange rate 1 USD = 0,75039 EUR ( 8 Costs covered by green growth conference (multi-partner financing from CMI, OCEMO, Plan Bleu, FEMISE, City of Marseille). Interim Unaudited Financial Report 1st semester /08/2012 5