Balance sheet as at 31 December 2007*

All amounts in euros

ASSETS

12/31/2007

12/31/2006

FIXED ASSETS

Tangible fixed assets

109,497

129,896

Totals

109,497

129,896

CURRENT ASSETS

Receivables & prepaid expenses

451,384

583,884

Cash & bank

1,719,506

1,804,707

Totals

2,170,890

2,388,591

TOTAL ASSETS

2,280,387

2,518,487

LIABILITIES

12/31/2007

12/31/2006

EQUALIZATION ACCOUNT

62,243

72,142

LONG TERM LIABILITIES

47,250

               57,750

CURRENT LIABILITIES

Payables & accrued liabilities

2,138,091

2,338,560

Taxes & social security payments

32,803

50,035

Totals

2,170,894

2,388,595

TOTAL LIABILITIES

2,280,387

2,518,487

Statement of operating income and expenses for 2007*

All amounts in euros

SUMMARY

Actual 2007

Actual 2006

INCOME

Ministry of Foreign Affairs:

• Activity number 2758 DCO 0013764

0

4,308,098

• Activity number 2758 DCO 0012152

4,569,197

          1,021,830

• Other Donor Income

1,429,815

1,923,682

TOTAL INCOME

5,999,012

7,253,610

EXPENSES

Ministry of Foreign Affairs:

• Personnel expenses

1,964,245

1,965,435

• Office

471,047

463,893

• Management & Board

64,400

67,280

• Depreciation charges

10,500

               10,500

• Expenses Allocated to Projects

(2,328,800)

(2,426,947)

181,392

80,161

Interest etc.

         (40,407)

              (15,557)

Project expenses

Country Programmes

2,716,435

3,186,608

Thematic Networks

838,349

798,452

Seed Funds

1,517,952

2,255,358

Corporate services

785,291

948,588

5,858,027

7,189,006

TOTAL EXPENSES

5,999,012

7,253,610

BALANCE

                  -

                       -