x1000

Budget (a)

Actual (b)

Budget variance (b-a)

Explanation

Gross outstanding prev year

44,789

24,942

-44%

Covid-19 operational and travel constraints had impact on the investments and disbursements in 2020 and 2021.

New Disbursements

5,777

24,392

322%

Disbursements higher compensate for previous years

Repayment

-6,529

-3,708

-43%

Less debt transactions in previous years, less repayments

Other movements

-

3,603

-

Interest loans, FV and FX adjustments

Outstanding Portfolio

44,037

49,229

12%

Write-offs

-661

-2,107

219%

Write off Sembrar Sartawi

Net Outstanding

43,376

47,122

9%

Bank

6,627

14,836

124%

Bank balance/short term deposits used as buffer for foreseen commitments and disbursements in 2024.

Other receivables

-

18

-

Commitment and Front-end fee accrued

Results

-

-

-

See results

Bank Account balance and other liquidities

6,627

14,854

124%

Total Assets

50,003

61,976

24%

Starting balance

Ministry of Foreign Affairs grants

55,000

55,000

0%

Contribution DGIS – Available to consortium partners  

-

12,897

-

8.9m received in 2024, 8.4m contributed to partners

Net result in previous years

-4,997

-16,897

238%

Negative result previous years mainly due to Fair value adjustments Komaza and Miro Forestry

Results

-

3,865

-

Positive result due to FX revaluation and Interest

Creditors/payables

-

7,111

-

Total liabilities

50,003

61,976

24%

2024

x1000

Budget (a)

Actual (b)

Budget variance (b-a)

Income from operational activities:

Interest income

1,427

4,114

188%

Positive interest was booked on the bank balances and short term deposit.

Results from Equity investments

612

-190

-131%

Only 1 equity position negative FV adjustment for Helios

Results from financial transactions

-

2,751

-

Positive FX revaluation

Other income

-

19

-

Operational costs:

Direct Costs

1,298

1,394

7%

Other direct project costs

355

368

4%

Indirect costs

170

-

-100%

Some staff cost re-allocated under other direct project cost (administrative expenses, auditing, reporting).

Project donations:

-

-

-

Grants

-173

-

-100%

No grants provided on DFCD Land Use Facility level. Focus was on investments for the Land Use Facility, next to supporting WWF, SNV and CFM with their grant programmes.

Net results

43

4,932

11370%

Write offs

661

1,067

61%

ECL stage 3 on Sembrar

Total results

-618

3,865

-725%

Positive result FX and interest

Operational costs

2024

x 1000

Budget (a)

Actual (c)

Budget variance (c-a)

Direct personnel costs

A.Staff costs

1,275

1,371

8%

B.External consultants and advisers

23

23

0%

Subtotal I

1,298

1,394

7%

Other direct project costs

A. Activity costs

-

-

-

B.Costs of consortium partners and local party

-

-

-

C.Travel costs relating to the activity

12

11

-8%

D.Equipment and investment costs

-

-

-

E. Monitoring, evaluation and audits

342

357

4%

Subtotal II

354

368

4%

Total of I and II

1,652

1,762

7%

Overhead/indirect costs

-

A. Costs of support staff

170

-

-100%

Some staff cost re-allocated under other direct project cost (administrative expenses, auditing, reporting).

B. Not directly attributable administrative costs

-

-

-

C. Other non-attributable costs

-

-

-

Subtotal III

170

-

-100%

Contingencies (max. 5%)

-

-

Total

1,822

1,762

-3%