JSC MFO CRYSTAL
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Crystal is a commercial MFI established in 2007 and currently Georgia’s largest MFI. Crystal has a strong basis in West Georgia and in rural areas: 55% of its clients are in semi-urban and rural areas. With its solid foothold in agriculture sector, the support of the small agri business will improve the livelihoods in these communities. In addition, Crystal has dedicated programs for women-owned businesses and young entrepreneurs, hence creating opportunities and promoting gender equality.
What is our funding objective?
FMO aims to support Crystal as a close partner throughout the entire banking transformation process, by supporting the implementation of a range of projects directly linked to this process.
Why do we fund this investment?
Through this project, FMO supports Crystal with the process of becoming a more professional institution and by doing so, it contributes to improving access to finance for Georgian micro businesses and SMEs, especially in rural areas.
More investments
| Date | Total FMO financing |
|---|---|
| 8/2/2024 | USD 10.00 MLN |
| 9/7/2021 | USD 10.00 MLN |
| 4/18/2024 | USD 10.00 MLN |
- Website customer/investment
- http://www.crystal.ge
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Effective date
- 3/15/2022
- Total FMO financing
- EUR 0.20 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C