Tbilisi/Washington/Stockholm, 13 November 2020 – United States and Swedish Governments Partner with MFO Crystal to Support Economic Recovery from COVID-19 Through Loan Guarantee Program On September 28, the Development Finance Corporation (DFC), the Swedish International Development Cooperation Agency (Sida), the United States Agency for International Development (USAID), and JSC MFO Crystal (Crystal) jointly announced a
Tbilisi/Antwerp/Frankfurt: Crystal confirmed $8 million senior loan facility from Incofin IM advised IIV Mikrofinanzfonds to support its provision of innovative financial services to micro entrepreneurs and farmers across Georgia. This new loan injection provided crucial reinforcement of Crystal’s liquidity position at a time of increasing market uncertainty in the immediate pre-crisis period. The proceeds of
May 5, Tbilisi – After thorough consideration, the parties decided not to proceed with the ongoing negotiation. Both institutions independently continue their normal operations.
Tbilisi/Zurich: Financial Inclusion Organisation Crystal has strengthened their longstanding partnership with Swiss Impact Investment Managers BlueOrchard with a new $5 million investment to support Crystal’s innovative financial services for micro entrepreneurs and farmers throughout Georgia. The new loan injection is demonstrative of the continued solid and impactful partnership between the two financial institutions at a
Crystal has reached a preliminary agreement with FINCA Impact Finance to acquire FINCA Bank Georgia. Prerequisites for the decision have been similarity of organizational cultures, customer-centric approach and Crystal’s plan to retain staff and further strengthen the bank. Crystal’s strategy is backed by its US and European institutional investors. While the transaction negotiation process is