Symbiotics launches first Sustainability Bond in Georgia with MFO Crystal for USD 5 million

Symbiotics, the leading market access platform for impact investing, has arranged the first Sustainability Bond ever issued in Georgia by raising USD 5 million in Georgian Lari equivalent for JSC MFO Crystal (“Crystal”). The proceeds of the Sustainability Bond will be granted towards the promotion of sustainable development, SME funding, energy efficiency and renewable energy.   

The Sustainability Bond proceeds, disbursed in local currency to Crystal, are to be fully used over a 3-year period through social and green eligible loans.

The Social loans will be granted towards microenterprises and SMEs, thereby stimulating their development and generating employment in the country. The Green loans will be granted towards the promotion of energy efficiency, renewable energy, clean transportation and sustainable agriculture.

With this Sustainability Bond issuance, Crystal showcases its commitment to sustainable finance and the promotion of environmentally and socially beneficial loans, directly responding to  UN Sustaonable Development Goals (SDGs #1 – No Poverty, #7 affordable and clean energy, #8 – Decent work and economic growth, #11 – sustainable cities and communities, #13 – Climate Change).

This bond is the first Sustainability Bond ever issued in Georgia by Symbiotics. It was certified in December 2019 by DNV GL and listed on the Luxembourg Green Exchange.


About Symbiotics

Symbiotics is the leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 450 companies in almost 90 emerging and frontier markets representing more than USD 5.5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such

About Crystal

JSC MFO Crystal (“Crystal”) is the leading non-banking financial institution in Georgia. It manages a loan portfolio of GEL 350 million, employing more than 1,000 members of staff, operating through 50 branches and serving more than 115,000 unique customers across the country.Since the day of foundation, the company has served more than 1 million customers. Crystal’s individual shareholders include such reputable Western foundations as: Agrif Cooperatief U.A. And DWM Funds S.C.A.-SICAF-SIF.

Crystal acts as a platform for economic development, providing micro and small entrepreneurs and farmers with innovative financial products and services tailored to their needs.

In 2019, Crystal, as a financial inclusion organization, steered towards a new stage of development. Not sufficing to act as a loan-centric microfinance institution, it stepped forward as a platform for promoting entrepreneurs and entrepreneurial potential in the country.  

Strong commitment to responsible lending, endorsed by numerous awards and recognitions, serves as the basis for the company success. Crystal is the first Fitch-rated non-banking financial institution in the region. In December 2018, Crystal received the nation’s responsible business award, “Meliora“

For more information, contact:

  • Eka Ergemlidze, Head of Strategic Communication Department, Crystal, 57762 0301

  • Samy Derradji, Corporate Communication Manager, Symbiotics