Project detail - JSC CREDO BANK


Status: Completed investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Microfinance Organization Credo (Credo) is Georgia's largest MFI with 197 thousand customers and a loan portfolio of USD 177million. It has a wide regional outreach via 59 branches and specialized products serving the needs of Georgian micro businesses, most of them active in agriculture and rural areas.

What is our funding objective?

For the growth of its portfolio, Credo is in need of long term funding. FMO offers a USD 10 million, senior unsecured loan to Credo with a tenor of 5 years with 1 year grace. Due to pricing and structuring issues, it is not commercially viable to offer GEL-funding at this moment. However, Credo will have the option to swap the USD for GEL once.

Why do we fund this investment?

By supporting Credo, FMO contributes to improving access to finance for Georgian micro businesses and SMEs, especially in rural areas. FMO is able to provide Capacity Development support contributing to institution building from a MFI to a full-licensed bank and for extending financing to the SME-segment.

More investments

Date Total FMO financing
6/16/2022 GEL 100.00 MLN
4/7/2020 USD 10.00 MLN
3/18/2019 GEL 26.00 MLN
1/14/2020 EUR 0.07 MLN
4/12/2018 USD 20.00 MLN
Europe & Central Asia
Financial Institutions
Effective date
End date
Total FMO financing
USD 10.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)