In the context of the OAS Secured Financing Project, DIL often encounters deeply rooted legal traditions and commercial practices, as well as resistance to modernizing long-standing laws. Reform of the regime governing secured transactions frequently also requires reforms of other related legislation, such as insolvency and bankruptcy laws, which poses the challenge of the interdependency between these regimes and avoiding inconsistencies to ensure that both systems remain functional.

Reforms need to be embodied by a new attitude toward lending and a shift towards asset-based and receivables financing. This may also require efforts to re-calibrate public policy choices that govern risk mitigation and financing instruments, such as policies that are frequently within the purview of financial supervisory and regulatory entities.

DIL is continually working with our local counterparts to ensure that the financial needs of the most vulnerable groups in society are also integrated into the reform process; financial inclusiveness thus remains a primary goal.