Solomon Islands

Projects

Finance

Subsector: Finance Sector Development

Diagnostic Studies for Secured Transactions Reforms in the Pacific Region

This regional technical assistance aims to study the following in Solomon Islands and in other selected Pacific developing member countries of ADB:

• legal framework for secured lending and how it is implemented in practice
• relevance of legislative reform
• options for reform
• options for a suitable, pragmatic, and enforceable registration/filing system.

Secured Transactions Reforms

The TA aims to contribute to higher private sector investment and economic growth. It will help to increase and broaden access to credit, as evidenced by increased credit to private sector relative to GDP and reduced interest rate spreads. This will be achieved through the development and implementation of a well-functioning legal, regulatory, and technical framework that allows for the effective pledging of movable assets and recovery in the event of default.