“Symbiotics launches the first Sustainability Bond in Georgia with MFO Crystal for USD 5 million in local currency equivalent” – Symbiotics – May 17, 2021

In a press release distributed on May 17, 2021 Symbiotics reported that it “has arranged the first Sustainability Bond ever issued in Georgia by raising USD 5 million in Georgian Lari equivalent for JSC MFO Crystal (“Crystal”).

The proceeds of the Sustainability Bond will be used to finance both Social and Green eligible loans. The Social loans will be granted towards microenterprises and SMEs, stimulating the generation of employment in the country. The Green loans will be granted towards the promotion of energy efficiency, renewable energy, clean transportation and sustainable agriculture.

With this Sustainability Bond issuance Crystal showcases its commitment to sustainable finance and the promotion of environmentally and socially beneficial loans.

This sustainability bond addresses SDGs 1,7, 8, 11 and 13.

This bond is issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainability, Social and Green Bond Framework, which was certified in December 2019 by DNV GL. The Sustainability Bond will be listed on the Luxembourg Green Exchange within the Sustainability Bond section. The Sustainability Bond proceeds are to be fully used towards a 3-year, senior unsecured, local currency loan to Crystal.”

You may read the press release on the news page of the Symbiotics internet site.