News

The financial inclusion organization Crystal steadily continues to promote the development of energy efficient and alternative fuel market, offering customers special installments to purchase EE stoves. The special product allows interested persons to acquire energy-efficient stoves through a consumer loan, and repay the liability in equal installments. The product has been designed within the framework...Read More

The project run by Crystal – “Women’s Empowerment for Reducing Inequalities” has been announced as a winner in the Corporate Sustainability Award, hosted by the UN Global Compact Georgia Network. The company received the award in the nomination of reduced inequality (Sustainable Development Goal 10/SDG 10), in the large business category. The presented project describes...Read More

Tbilisi/Amsterdam, June 29: Financial Inclusion Organization Crystal has signed a $1.2 million subordinated loan agreement with its long-standing partner Triple Jump through AMP of ASN Impact Investors. The facility will play an important role in growing Crystal’s capital base and enabling the organization to expand the services across Georgia. Funding will be utilized in financing...Read More

Crystal became the winner of the “Capital Market Support Program”.  The company received a special award at the closing event of the CMS program for the issuance of certified gender bonds in the capital market. Crystal is the first financial institution in Georgia to issue certified gender bonds. The transaction aimed to increase access to...Read More

Fitch Ratings has issued an updated credit rating. The reputable international rating agency has improved the Long-term Issuer Default Rating (IDR) of the financial inclusion organization Crystal, changing the stable outlook awarded last year to positive this time. The improvement of Crystal’s credit rating outlook by Fitch has been conditioned by a range of parameters,...Read More

At the meeting hosted by the international organization “Microfinance Center” (MFC) in the city of Budva, Montenegro, Archil Bakuradze – the chairman of the supervisory board of the financial inclusion organization Crystal was elected as the chair of MFC board. It is noteworthy that from 2019 until now, Archil Bakuradze has been a member of...Read More

Proparco has granted a USD 10 million financing to the Georgian microfinance institution JSC MFO CRYSTAL (“Crystal”), to support the development of its loan portfolio. Crystal is the leading microfinance institution in the country and operates mainly in rural areas, targeting micro, small and medium enterprises (MSMEs) and the agricultural sector. This facility will be...Read More

Moneta is an investment tool, introduced by Crystal in November 2022. Legally the product is a promissory note (PN) regulated by respective law. Product advantages are security and high effective interest rate of up to 14% in GEL and 5.5% in USD, available both for individuals and legal entities. Crystal has introduced 2 types of...Read More

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are proud to announce JSC Microfinance Organization Crystal as winner to receive a grant through the capital market support program for issuing GEL 25 million social bonds. 100% of the gender bond proceeds will be used to finance loans to woman-owned MSMEs,...Read More