JSC MFO CRYSTAL
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
JSC MFO Crystal ("Crystal") was established as a commercial Micro Finance Institution in 2007. Currently it is Georgia's largest MFI. Crystal has a strong outreach in rural areas in the Western part of Georgia. Their client base consists of micro entrepreneurs in the agricultural and rural areas.
What is our funding objective?
In order to support its future growth, Crystal seeks additional senior lending, preferably in local currency. Part of the funds will be earmarked to Women in Business program and providing dedicated lines into the Youth segment. In addition, part of the funds will be earmarked for Energy Efficiency loans.
Why do we fund this investment?
FMO wants to deepen the relations with its existing clients in the Georgian FI-sector. Crystal adheres to all the principles of sustainable finance.
What is the Environmental and Social categorization rationale?
The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Crystal will be required to apply the EDFI Exclusion List and Georgia E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 8/2/2024 | USD 10.00 MLN |
| 3/15/2022 | EUR 0.20 MLN |
| 4/18/2024 | USD 10.00 MLN |
- Website customer/investment
- http://www.crystal.ge
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Publication date
- 4/19/2021
- Effective date
- 9/7/2021
- Total FMO financing
- USD 10.00 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