Financial Inclusion Organization Crystal and German Sparkassenstiftung (DSIK) have signed the Memorandum of Cooperation. The memorandum has been implemented within the framework of the project “Increasing access to Finance for Sustainable Development of the Small and Micro Entrepreneurs in the Southern Caucasus and Ukraine”. The program aims providing sustainable and responsible financial services to the Crystal’s SME clients.
As part of the partnership, the Sparkasse Foundation will provide technical assistance to Crystal and support to strengthen its institutional capacity and develop relevant skills of the MFO’s employees.
The project is mainly focused on the risk management and environmental, social and governance (ESG) topics, to raise awareness of ESG risks. Purpose is to align ESG reports in compliance with international standards and with the requirements of the National Bank of Georgia. Under the project international and local experts will be invited to work through.
German Sparkassenstiftung Southern Caucasus and Ukraine (DSIK), with the support of German Federal Ministry for Economic Cooperation and Development (BMZ), has been implementing the project “Increasing access to Finance for Sustainable Development of the Small and Micro Entrepreneurs in the Southern Caucasus and Ukraine” since 2021. DSIK aims to raise access to finance for entrepreneurs and farmers in the regions, strengthen entrepreneurial skills and increase awareness on ESG risks.