Crystal Receives $2 Million Subordinated Loan from BlueOrchard Impact Credit Fund

Tbilisi/Luxembourg, March 29: Financial Inclusion Organization Crystal has signed a $2 million subordinated debt agreement with BlueOrchard Impact Credit Fund. The facility will strengthen capital position of the company and will be applied towards growth, improving financial resilience and outreach to the underserved micro and small businesses.

The sub-debt transaction, alongside with $4 million senior loan, further solidifies partnership between Crystal and BlueOrchard, demonstrating commitment of both entities to foster the growth of Georgia’s Micro, Small, and Medium Enterprises (MSMEs) and Agricultural sectors.

Ilia Revia, Chief Executive Officer of Crystal comment: “We highly value our continued partnership with BlueOrchard and are excited to sign a new deal, which will enable Crystal to maintain improved financial position during the transformational phase.“

Kaspars Delins, SVP / Head of Origination / CEE, Central Asia and Middle East, at BlueOrchard Finance S.A., Representative Office Georgia, comment: “We are pleased to further expand our partnership with Crystal. Crystal is not only one of the leading institutions in Georgia, but also excels in supporting micro, small, and medium-sized enterprises. We are delighted to contribute together to the economic prosperity of Georgia.”

About BlueOrchard

BlueOrchard is a leading global impact investment manager. As a pioneering impact investor, the firm is dedicated to generating lasting positive impact for communities and the environment. BlueOrchard was founded in 2001, by initiative of the UN, as the world’s first commercial manager of microfinance debt investments. Today, BlueOrchard offers impact investment solutions across asset classes, connecting millions of entrepreneurs in emerging and frontier markets with investors. BlueOrchard has invested to date over USD 11 billion across more than 100 countries. As of December 2023, BlueOrchard has supported over 300mn people in emerging and frontier markets with its investments. BlueOrchard is a member of the Schroders Group.

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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 457 million, employing more than 1,000 members of staff, operating through 49 branches and serving more than 114,000 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.

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