Microbank Crystal has been selected by the Asian Development Bank (ADB) to receive a technical assistance of GEL 300,000 under ADB’s competitive selection process for financial institutions in Georgia.
The technical assistance is awarded through ADB’s “Promoting Green Banking for Sustainable Development” program, which aims to strengthen the capacity of financial institutions to expand green financing opportunities for micro, small and medium-sized enterprises (MSMEs). A particular focus of the program is supporting women entrepreneurs and increasing their access to sustainable finance. The support is provided through ADB’s “Advancing Green Finance for Sustainable Development” regional technical assistance, which supports selected financial institutions to strengthen green banking practices and expand green financing for MSMEs, including women-owned businesses. It places a particular emphasis on improving access to sustainable finance for women entrepreneurs.
Crystal’s successful onboarding reflects the institution’s strong track record, extensive efforts, and long-standing commitment and potential to support MSMEs across Georgia.
The technical assistance will support the integration of green finance practices into Crystal’s operations, including the development of assessment methodologies, eligibility criteria, and lending approaches for MSMEs, with particular attention to women-led businesses. The project will also contribute to strengthening the institution’s internal capacity through knowledge-sharing initiatives, staff training programs, and technical workshops.
“Given our long-standing and successful partnership with the Asian Development Bank, this project represents another valuable opportunity to deepen our cooperation while further advancing key priorities within Georgia’s financial sector, including green finance, environmental sustainability, and support for women entrepreneurs. These areas play an important role not only in the development of business sector but also in fostering sustainable economic growth across the country,” – said Ilia Revia, Chief Executive Officer of Crystal.
“It’s a pleasure to onboard our partner, Crystal. This partnership will support the integration of green finance into Crystal’s business model and lending operations through a comprehensive gap assessment, an actionable roadmap, targeted capacity building, and practical tools for screening green investments. By working hands-on with a pilot loan portfolio, the program will strengthen Crystal’s capacity to assess, structure, and scale climate-aligned financing—expanding the institution’s green finance activities and setting a benchmark for the financial sector,” said Enrico Pinali, ADB’s Regional Head of Private Sector Development in the Central and West Asia Department.
Crystal and ADB have enjoyed a successful partnership for many years. In 2023, Crystal issued GEL25 million in certified gender bonds with ADB as the anchor investor. The proceeds were dedicated to supporting women-owned and women-led MSMEs and expanding women entrepreneurs’ access to finance. The transaction marked the first-ever gender bond issuance in the South Caucasus, establishing an important milestone for the region’s sustainable finance market.
Green finance, environmental sustainability, and the advancement of women’s entrepreneurship remain among Crystal’s key strategic priorities and integral components of its corporate social responsibility agenda. Partnering with ADB through this technical assistance is further recognition of the institution’s continued commitment and meaningful contribution to these important development objectives.
Founded in Georgia, Crystal is recognized as one of the country’s leading financial institutions, known for its sustained growth and robust reputation. On February 12, 2025, the company officially received its microbanking license from the National Bank of Georgia. With 27 years of experience, a loan portfolio of over 600 million GEL, a team of more than 1,000 employees across 47 branches, and a client base exceeding 100,000 individuals nationwide, Crystal continues to be a key player in Georgia’s financial landscape. The company maintains strategic partnerships with major international and local financial institutions.
