Crystal Fund is governed by the Board overseeing the work of the Executive Director and the team.

Board Members

Archil Bakuradze, Chairman

Archil Bakuradze smChairman of the Board of Crystal Fund. He is a financier and entrepreneur, Chairman of the Supervisory Board of JSC MFO Crystal, which he started. Since 2013, Archil is elected as a Chairman of the Georgian Microfinance Association. As part of his commitment to civil society, Archil holds non-executive positions in the Business and Economic Centre in the Parliament of Georgia, Charity Humanitarian Center “Abkhazeti” and Queen Ketevan Foundation. For his contribution to the Internally Displaced People, in 2003 he received the international award from the Dutch Refugee Foundation. Archil holds MBA degree from Lancaster University. He is UK FCO Chevening scholar (2003) and a fellow of the John Smith Trust (2000).

Alu Gamakharia

Alu GamakhariaEconomist-engineer by profession, is a member of the Board of Crystal Fund from its inception to date. He acts as a Board Chairman of Charity Humanitarian Centre Abkhazeti (CHCA) since 1995, Director of the Association “Peaceful and Business Caucasus“ and the Chairman of Supervisory Board of JSC “Orgtechnica”. Since 1974 Mr. Alu Gamakharia worked on various positions in the enterprise “Sukhumpribor”. From 1995 till today he is involved in Abkhaz-Georgian and trans-Caucasus peace-building initiatives. He has implemented many business projects resulted in building close ties, personal and business bonds between the divided communities. In 2009, the International Federation for World Peace awarded Mr. Alu Gamakharia with a title of the Ambassador of Peace.

Fredrick R Hyde Chambers OBE

Fredrick Hyde-Chambers OBEMember of the Board of Crystal Fund. He developed the first Business and Parliament Dialogue Centre in the Westminster Parliament, the Industry and Parliament Trust, which is now an established resource for both Houses of Parliament and senior officers. He has personally advised on the establishment of all the Business and Parliament Dialogue Centres that have been established in sixteen countries ranging from New Zealand to Spain and Finland. With his active participation similar Dialogue Centres were established in Armenia, Moldova and Georgia helping to shape them to the national circumstances and needs. FRHC has received the OBE (2003) for his services to Parliament and the business community.

Paata Tsotsonava

Paata TsotsonavaMember of the Board of Crystal Fund and a Director of the Kutaisi Branch of JSC TBC Bank since 2002. In 1995-1999 he worked as a Manager of the Microfinance Programme of the Charity Humanitarian Centre Abkhazeti (CHCA). Later he led the Income Generation Programme of the Danish Refugee Council (DRC). Paata graduated from the Georgian Subtropical Agriculture Institute with qualification of agricultural economist.

Keith Young MBE

Mr. Keith Young MBE is the Member of the Board of Crystal Fund. He has extensive experience in the internet, communications and publishing sectors. He is a co-founder and deputy chairman of NetBenefit plc, a quoted internet domain name and services provider. He was also a founder shareholder in Easynet plc, a leading UK-based internet service provider. Mr. Young holds a degree in Economics from the London School of Economics. He has been a longstanding supporter and investor in Georgia’s financial and technology sector companies.

Executive Director

Nikoloz Gegeshidze

Nikoloz GegeshidzeExecutive Director of Crystal Fund is a lawyer by profession. During years 2003-2008 he worked in the Batumi, Kutaisi and central branches of the Georgia Young Lawyers Association (GYLA). During 2006-2007 he was the deputy chairman of Kutaisi Branch of GYLA. In 2008 he became the Manager of Legal Department of the JSC Microfinance organization “Crystal”. In 2009 he was appointed as its corporate secretary.


5 Marjanishvili Street, Tbilisi 0102, Georgia
Phone: +995 322 970 128
Fax: +995 322 970 129
Email: [email protected]

Mission statement

Crystal Fund mission is to increase the financial literacy in Georgia, bolster standards in the provision of financial services, develop new technologies to enhance access to financial services and to implement social and community investment projects. Crystal Fund is actively promoting the rule of law, protection of property rights and advocates for the enabling business environment in Georgia. Crystal Fund has solid grant and project management experience combined with high standards in governance, rigorous organisational systems and procedures.