EBRD Backs Georgia's Crystal With $10M Financing

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 22. The European Bank for Reconstruction and Development (EBRD) has arranged a $10 million (8.6 million euros) financing package for Crystal, one of Georgia's leading microbanks, to support private-sector growth and boost green finance in the country, Trend reports.

The package includes an $8 million loan to be on-lent to local micro, small and medium-sized enterprises (MSMEs), particularly in underdeveloped and rural areas, improving their access to medium-term finance in local currency. An additional $2 million loan, supported by the EBRD and the Green Climate Fund (GCF), will help Crystal expand its green lending by financing climate change mitigation and adaptation technologies for private individuals and MSMEs.

Crystal will distribute these funds through its nationwide branches and digital channels, with a focus on supporting women-led businesses and underserved groups. A technical cooperation package funded by Austria and the GCF will assist Crystal in capacity building and monitoring.

Alkis Vryenios Drakinos, EBRD's Regional Director for the Caucasus, emphasized the bank's commitment to fostering inclusive and sustainable growth in Georgia. Crystal's CEO, Ilia Revia, highlighted the partnership as a strategic milestone, enabling stronger support for entrepreneurs in regions where finance access remains challenging.

After recently obtaining a microbank license, Crystal manages a loan portfolio of 570 million Georgian lari (181 million euros), operates 48 branches, and serves over 100,000 clients. The EBRD has invested over 5.5 billion euros in Georgia to date, with 83% directed to the private sector.

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