Guarantee with MFO Crystal

Sida and United States International Development Finance Corporation (DFC) /United States Agency for International Development (USAID) implements a co-guarantee partnership in the support of JSC MFO Crystal (Crystal) in Georgia. The contribution is a loan portfolio guarantee for the period of 2020-2028. The intervention aims at strengthening JSC MFO Crystal's ability to provide loans to productive MSME’s in Georgia in a broad array of sectors, including but not limited to creative industry (including artisans and film), light manufacturing, tourism, information communications technology, e-commerce, agriculture, and logistics, with a focus on underserved borrower groups, including women (not less than 30 % of disbursements under the guarantee), start-ups and those outside of the major urban centers (not less than 20 % of disbursements under the guarantee). The loans will assist MSMEs in Georgia to weather the current COVID related economic crises, thereby stimulating economic growth. Total disbursed amount under the contribution is US$15,000,000 (The maximum cumulative amount of all loan disbursements). The intervention is a non-revolving guarantee with loan portfolio structure where the risk is shared equally between Sida (25 %) and USAID (25 %) pari passu, and the remaining risk is carried by the Guarantee Party, JSC MFO Crystal. The guaranteed amount is US$7,500,000 USD (Sida US$3,750,000 and USAID US$3,750,000).