Crystal and Symbiotics Investments launched USD 10 million Social Bond

Crystal, a financial inclusion organization and Symbiotics Investments have strengthened their partnership through a USD 10 million Social Bond. Social loans will be granted to local  Micro, Small & Medium Enterprises, small farmers and agricultural entities, stimulating economic development and generating employment in Georgia. The purpose of the facility is to facilitate community access to essential services such as education, health care, and financial services.

The proceeds are represented in local currency and will be utilized over a 4-year period. This new deal will reinforce Crystal’s liquidity position and enhance lending landscape in the country.

Ilia Revia, Crystal Chief Executive Officer,said: “Crystal’s and Symbiotics have been partners for almost 8 years. We are pleased to demonstrate strong commitment towards encouraging entrepreneurship and social development of our clients through this new facility. Crystal emphasizes our dedication to sustainable finance and the promotion of environmentally and socially responsible lending products.”

Sofia Tulupova, Regional Manager at Symbiotics, said “We are proud of strengthening our long-standing partnership with Crystal via this local currency Social Bond targeting Georgian MSMEs. It is especially meaningful given the challenging time for the ECA region and overall emerging markets, and it highlights our joint commitment to impact investing”.


About Symbiotics Investments

Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than USD 7.5 billion for 541 companies in 94 countries.

About Crystal JSC MFO Crystal is the leading financial inclusion organization and the largest by assets non-banking financial institution in Georgia. It manages the loan portfolio of GEL 383 million, employing more than 1,000 members of staff, operating through 50 branches and serving more than 120,000 unique customers across Georgia. Crystal acts as a platform for economic development providing micro and small entrepreneurs and farmers with innovative financial products and services. Crystal is the first Fitch-rated non-banking financial institution in the region. In December 2018, Crystal received nation’s responsible business award “Meliora“.


For more information, contact:

Samy Derradji, Corporate Communication Manager, Symbiotics

Eka Ergemlidze, Head of the Strategic Communications Department, Crystal