| For the period from January 1st, 2007 up to December 31, 2007 |
| BALANCE SHEET as of BESA Fund | ||
| (in US$) | (1 Us$ = 82.88 lek) 31 Decembe |
(1 Us$ = 94.14 31 December |
| ASSETS | 2007 | 2006 |
| Cash and due from Banks | 1,610,889 |
490,626 |
| Short term investments in market instruments | ||
| Loan outstanding | 37,925,494 |
30,202,605 |
| (loan loss reserve) | (2,847,331) |
(2,174,840) |
| Net loans outstanding | 35,078,163 |
28,027,765 |
| Other short term assets | 353,439 |
33,453 |
| Long term investments | - |
- |
| Fixed assets | 707,072 |
482,879 |
| TOTAL ASSETS | 37,749,563 |
29,034,723 |
| LIABILITIES AND RESERVES | ||
| Liabilities | - |
- |
| Commercial loans (Raiffeisen Bank) | 603,282 |
- |
| Public funds and grants | 13,066 |
24,745 |
| Loans from the Albanian Government | 7,855,196 |
7,795,498 |
| Loan from Spain Government | 7,346,766 |
5,273,810 |
| Accrued Interest | 165,694 |
|
| Deferred Income | 892,319 |
785,589 |
| Other short term liabilities | 616,904 |
500,610 |
| Total liabilities | 17,493,227 |
14,380,252 |
| Equity | ||
| Paid-in equity from shareholders | - |
- |
| Donated equity – prior years (cumulative) | 7,597,369 |
6,521,669 |
| - Soros | 1,922,130 |
1,692,225 |
| - Soros – Other Donations | 487,217 |
261,956 |
| - Albanian Government | 1,288,005 |
1,133,948 |
| - Other donations (Japanese Grant) | 99,072 |
87,222 |
| - Capacity Building Grant | 810,404 |
713,473 |
| - Loan Portfolio inherited from ADF | 2,979,404 |
2,623,040 |
| - Grant from CGAP | 11,137 |
9,805 |
| Donated equity – current year | 53,925 |
166,986 |
| - Soros | 28,357 |
166,986 |
| - Albanian Government | ||
| - OSCE , ILO | 25,568 |
|
| Prior year’s retained earnings, without including cash donations | 9,048,045 |
5,185,445 |
| Current year profit | 3,556,997 |
2,780,371 |
| Total equity | 20,256,336 |
14,465,471 |
| TOTAL LIABILITIES AND EQUITY | 37,749,563 |
29,034,723 |