Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Georgia
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Approved
Bank Risk Rating: C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-03-28
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: JSC Microfinance Organization Cyrstal
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-01-23
JSC MFO CRYSTAL
FMO-51156

Project Description
According to FMO website, JSC Microfinance Organization Crystal (Crystal) is Georgia’s fourth largest microfinance lender with 60 thousand customers, 36 branches and a loan portfolio of USD 60m. Headquartered in Kutaisi, a regional city in the northwest of Georgia, it has a strong outreach in the country’s rural areas (>60 percent of loan portfolio), especially in its home region. This project is fully in line with FMO's strategy of increasing our impact in Georgia through growing our client base with selected second tier banks and larger MFIs. By supporting Crystal, FMO contributes to improving access to finance for Georgian micro businesses, especially in rural areas. Crystal’s inclusive mission and activities fit well within the new Massif’s strategy and focus themes. A part of the funding will be used for green lines.
Investment Description
Fund: MASSIF
Contact Information
No contact information provided at the time of disclosure.