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February 2017

Improving Access to Credit – A Video Explanation

Improving Access to Credit – A Video Explanation

Many states in the Americas 1 are undertaking domestic law reforms to create a modernized secured transactions regime. Why? Because enabling the use of non-traditional assets (i.e., goods other than land, such as inventory (including livestock and crops), equipment, accounts receivable, intellectual property) expands the range of collateral that can be used to access credit by those who need it most – MSMEs. Nevertheless, there is still a gap – a lack of understanding of the connection between secured transactions law reform, asset-based lending, and improved access to credit. To address that gap, the Department of International Law (DIL), Secretariat for Legal Affairs of the OAS, has produced the following video documentary:

🎥 Short 6-minute version with English subtitles 
🎥 Short 6-minute version without subtitles 
🎥 Long 17- minutes with English subtitles  

This work is part of DIL’s mandate “to continue promoting the Model Law on Secured Transactions among member states…” and pursuant to which DIL is also “to promote further development of private international law in collaboration with organizations engaged in this area… 2. [emphasis added]

Most recently, DIL participated in the Secured Transactions Coordination Conference 3 held February 9-10 in Philadelphia, Pennsylvania. This was the first such conference among key players in the international community involved in secured transactions law reforms. 4 The focus was how multiple reform efforts, which are frequently contemporaneous and at times duplicative, could be better orchestrated to maximize resources and achieve the goals of economic law reform at state level as well as greater harmonization at regional and international levels. Examples were discussed from around the world. DIL presented its work on the OAS Secured Transactions Project (2012-2015), which had been made possible with financial support from the Government of Canada and had been orchestrated in El Salvador, Peru and Jamaica in collaboration with several of the aforementioned organizations (UNCITRAL, IFC, UNIDROIT, etc.). Although an informal conference where no official conclusions were reached, this was an invaluable initiative that has opened important dialogue.

For further information on this matter, please contact the Department of International Law of the OAS – Technical Secretariat of the Inter-American Juridical Committee +1 202 370 0743. 

» For more information about the OAS Secured Transactions Project, please visit our Website

» For additional information about the Department, please visit our Website

1 In the Americas, secured transaction reforms have been undertaken by several states, including Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Peru and recently initiated by others, including Argentina, Chile, Haiti and Paraguay.

2 AG/RES. 2886 (XLVI-O/16).

3 Conference Co-chairs: Dr. Marek Dubovec, NATLAW and Professor Charles W. Mooney, Jr., INSOL; Co-sponsors INSOL, NATLAW and OHADA; Host: University of Pennsylvania Law School.

4 Attendees included representatives from the International Monetary Fund, World Bank Group/International Finance Corporation, United Nations Commission on International Trade Law (UNCITRAL), International Institute for the Unification of Private Law (UNIDROIT), Organization for the Harmonization of Business Law in Africa (OHADA), various regional development banks (EBRD, ADB), US agencies (USAID, State Dept.), National Law Center for Inter-American Free Trade(NATLAW), International Insolvency Institute (INSOL), academics and practitioners.


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