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Crystal MFO and BPN Georgia Sign Understanding Memorandum

Crystal MFO and BPN Georgia Sign Understanding Memorandum

Crystal microfinance organization and BPN Georgia has signed mutual understanding memorandum for a period of 3 years. The memorandum calls for strengthening the potential of micro and small enterprises (MSE) and upgrading knowledge of entrepreneurs in business administration field.

The mentioned goal will be achieved through a joint product, besides microfinance services supplied by Crystal. BPN will hold trainings inbusiness management grounds.

“Our objective is that our clients maximally maintain profitability and timely identify the existing growth potential in business, maintain competitive capacity and develop critically necessary skills to this end. BPN holds corresponding international experience in entrepreneurs training field and we are in this phase to pilot this model in cooperation with them. We hope our expectations will justify fully and based on the received knowledge our clients will resolve any challenges with success”, Kakha Gabeskiria, Crystal microfinance organization’s chief operational officer, noted.

“BPN wants entrepreneurs to have skills for achieving professional level and offer products and services, which will promote a growth of values. This may be achieved though multi-year professional coaching and practice-oriented trainings in the entrepreneurial field. Cooperation with Crystal enables to use target credits and help entrepreneurs to reasonably use credits on behalf of entrepreneurs, Crystal and BPN. Experience of other countries have showed that economy may be developed by domestic entrepreneurs by creating new job places”, Hans Wilhelm, BPN executive director, noted.

Crystal is one of the leading nonbank financial institutions, which serves about 70 000 micro entrepreneurs and farmers in Georgia through small grants and other financial services. The company owns 57 branches and service centers. The company employs more than 900 qualified persons and its crediting portfolio exceeds 200 million GEL.

Business Professionals Network (BPN) is a network of business professionals, which promotes creating perspectives and strong entrepreneurship on behalf of entrepreneurs, their families, employed persons, the whole society and country. Our objective is to promote the potential of talented craftsmen and small entrepreneurs.