DIL places special emphasis on strengthening the capacity within OAS Member States to implement secured transactions reforms. In particular, three principles underpin our approach:

  • Local ownership. The secured transactions reform activities must be country-driven, designed and implemented with broad-based, local stakeholder “ownership.” In all of our activities, DIL has emphasized the need for local engagement and has promoted reliance on local advisors, where possible, and ongoing training of country officials.

  • Long-term planning, priorities, and impact assessment. Legislative reforms must be considered in a wider context, taking into consideration not only integration with other laws, regulations and policies, but also local business practices and financial culture. In that regard, comprehensive desk analysis must be supplemented with in-the-field diagnostics of the access to credit environment from the perspective of a range of stakeholder groups. This serves the dual function of data collection and awareness raising, thereby further strengthening local support for the reforms.

  • Institutional architecture. Legislation for secured transactions reform must be supported by the necessary institutional framework, which requires education and training of government officials and the business community, particularly MSMEs, and women-owned businesses. Capacity-building seminars help to provide a learning environment and platform for the development of new lending practices, as well as the creation and strengthening of supportive institutional infrastructure.