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The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are proud to announce JSC Microfinance Organization Crystal as winner to receive a grant through the capital market support program for issuing GEL 25 million social bonds. 100% of the gender bond proceeds will be used to finance loans to woman-owned MSMEs,...
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TBILISI, GEORGIA (10 February 2023) — The Asian Development Bank (ADB) has invested GEL18.75 million (approximately $7 million) in a 2-year local currency gender bond issuance by Joint Stock Company Microfinance Organization Crystal (Crystal), the largest microfinance institution (MFI) in Georgia. It is the first certified gender bond issuance in the South Caucasus and in...
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Tbilisi/Zurich: Financial Inclusion Organization Crystal confirmed USD 8 million loan transaction with Swiss Impact Investment Manager BlueOrchard to support Crystal’s innovative financial services for micro entrepreneurs and farmers throughout Georgia. Crystal and BlueOrchard have been cooperating since of 2014 and have successfully completed multiple transactions. This new facility is demonstration of solid and impactful partnership...
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Crystal re-affirmed its position as an honorary award winner at the Best Annual Report and Transparency Competition (BARTA) for the fourth year in a row, demonstrating high quality and openness of its annual reporting. The award emphasizes the stable growth of the company and confirms that commitment to transparency is one of the major organizational...
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“Crystal Consulting” – a subsidiary of “MFO Crystal” was announced as a winner of GITI 2022 Cyber Security and IT Innovation award in the nomination “The Best Complex Business Solution of The Year” for its BPA (business process automation) system – Crystal ERP and POS. This year, “Crystal Consulting” first time participated in GITI competition...
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The financial inclusion organization “Crystal” is pleased to announce new appointments in the composition of its Supervisory Board, taking three new independent members – Giorgi Arveladze, Matangi Gowrishankar and Robert Scot Kossmann.   Giorgi Arveladze has 20 years of extensive experience in banking.  At different times, he held senior positions in leading banks and contributed significantly...
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