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Georgia: GGF and Crystal Partner to Expand Energy Efficiency Financing

The Green for Growth Fund (GGF) has provided a senior loan of $1.5 million to new partner JSC MFO Crystal (Crystal) to expand green energy lending in Georgia.

The largest microfinance organization in the country, Crystal primarily serves microentrepreneurs and farmers, with a strong focus on rural clients. The institution is also unique among microlenders in Georgia for its keen interest in addressing the need for energy-efficiency improvements among this client group: Crystal has been substantially ramping up its portfolio of green energy products and last year pioneered financing for solar energy systems in remote areas.