Secured Transactions - July 2013

Inaugural Planning Session held between the Department of International Law and interested OAS Member States

The Department of International Law held an initial planning session on July 18th with representatives from those OAS Member States that to date have expressed interest in the Secured Financing Project. The meeting was attended by representatives from six Member States: El Salvador, Honduras, Jamaica, Mexico, Paraguay and Suriname. Among the participants was the Permanent Representative of Honduras to the OAS, Ambassador Leonidas Rosa Bautista, as well as high level representatives from other Permanent Missions.

The meeting took place at the headquarters of the Secretariat for Legal Affairs under the direction of the Director of the Department of International Law, Mr. Dante Negro, and was also attended by the Secretary, Mr. Jean-Michel Arrighi. Presentations were given by the project managers, Ms. Jeannette Tramhel, Legal Consultant, and Mr. Eugenio Briales, Secured Transactions Expert; and also included the participation of Ms. Hilary Anderson, Senior Gender Specialist from the Inter-American Commission of Women, who provided specific examples to illustrate how secured transactions reform can help increase the accessibility of credit to women.

The meeting was held in order to outline the project objectives, the process and planned activities and to provide an opportunity for discussion. The Department is currently planning two regional seminars in the near term, which are expected to be held in Latin America and the Caribbean. These seminars are being designed as capacity-building workshops in secured transactions law reform with the full participation of local lawmakers and various stakeholders, including groups dedicated to the financial inclusion of women and the promotion of MSMEs. Outputs from these seminars, together with an expert review study, are expected to result in specific recommendations for the beneficiary Member States and a framework for regional implementation. OAS Member States are being encouraged to consider the Model Inter-American Law on Secured Transactions and the Model Registry Regulations when adopting or revising legislation relevant to secured transactions. In this way, the Secured Financing Project will contribute towards the establishment of predictable systems of secured lending in Member States, resulting in more affordable credit and economic growth throughout the Hemisphere. This Project is made possible with financial support from the Government of Canada. 

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