Tbilisi, December 17, 2018 – JSC Microfinance Organization Crystal has been awarded a Grand Prix at the Georgia’s Responsible Business Contest – Meliora 2018.
The awards ceremony took place in Tbilisi on December 13, bringing together 41 companies and 76 projects. The independent jury was comprised of the leading Georgian and international experts from the UK, US, Belgium, Denmark, Israel, Norway and Slovakia.
Archil Bakuradze, Chairman of the Supervisory Board of Crystal, commented following the award ceremony: “This is a great news for the team and all of our stakeholders, who extended their trust and confidence to Crystal for many years. The contest itself and the extent of business participation is a reflection of a growing public demand for corporate social responsibility and Georgia’s commitment to sustainable development goals. Finally, the award is a timely recognition of the microfinance industry, offering its fresh promise of greater financial inclusion and economically resilient communities”.
The contest was held within the framework of Civil Society Sustainability Initiative funded by the EU and German Federal Ministry for Economic Cooperation and Development.
Crystal is Georgia’s leading financial inclusion organization. Crystal acts as a platform for development for micro-entrepreneurs and farmers, providing them with innovative financial and technology solutions as well as non-financial services tailored to their needs. Crystal’s mission is to contribute towards poverty reduction in Georgia through promoting entrepreneurship in financially, socially and environmentally sustainable way. Crystal manages total assets of GEL 300 million, employing more than 1,000 professionals, operating through 62 regional branches and serving more than 100,000 clients across Georgia. Crystal became the first Fitch-rated non-bank financial institution in the region (‘B’ stable outlook). Its local currency-denominated corporate bond is floated at the Georgian Stock Exchange (#CRS01J).
Georgia’s Responsible Business Awards “Meliora” is a nation-wide effort to promote and strengthen the CSR commitment among businesses; attract attention to excellent examples of CSR projects; encourage and motivate companies to adopt best practices and become role models for others; and finally to demonstrate that a responsible business, aiming to be a force for good, by creating healthy communities and a healthy environment, achieves long-term financial value and commercial success as a result.