Crystal has been named the winner of the CAREC Gender and Green Innovation Awards 2025, an international competition organized by the Asian Development Bank (ADB) and the Central Asia Regional Economic Cooperation (CAREC) program to recognize outstanding organizations in the fields of gender equality and green innovation.
The goal of the competition was to honor exceptional initiatives that promote gender equality and environmental sustainability.
The awards ceremony took place in Bishkek, where the winners were formally presented with their well-deserved awards and certificates. With the full funding and invitation by CAREC, Crystal was presented by the Head of its E&S (Environmental & Social) Development, Maya Kobalia, who also played a key role in preparing the competition submission and participating in interviews conducted by the international jury. She was also one of the Panelists at the EBRD’s co-hosted Panel discussion.
The four-month evaluation process involved multiple stages of assessment. During this time, Crystal presented its projects and initiatives aimed at advancing gender equality and environmental sustainability. Submissions were evaluated by an international panel of experts with significant experience in gender development and climate-related issues.
Key evaluation criteria included innovation, systemic approach, corporate social impact, and contribution to gender and green development.
“This recognition holds special significance for Crystal, as it reaffirms that our daily work extends beyond banking services—it makes a positive impact on people’s lives and the environment. We firmly believe that the financial sector has a vital role to play in driving gender equality and green innovation. This achievement inspires us to continue taking innovative steps and remain a trusted partner in the development of our society, our country, and the region,” – said Ilia Revia, CEO of Crystal. More than 200 organizations from around the world participated in the competition, with only 10 companies selected as winners.
About CAREC:
The Central Asia Regional Economic Cooperation (CAREC) program is a multilateral partnership that brings together countries from Central Asia and neighboring regions, along with international organizations, to promote economic development, regional cooperation, and sustainable initiatives. The program is coordinated by the Asian Development Bank (ADB).
Notably, Crystal already has a successful track record of collaboration with ADB. In 2023, the company issued GEL 25 million in gender bonds (first Certified Gender Bonds in the Region), aimed at supporting women entrepreneurs in Georgia.
For more information about the competition, visit the official CAREC platform: https://weop.carecprogram.org/news/carec-honors-gender-and-green-innovation-awardees-in-bishkek