IFC, a member of the World Bank Group, helps widen access to finance for Lao PDR’s many micro, small and medium enterprises by supporting the Ministry of Finance in the development of an online secured transaction registry that is launched today.
The Registry for Security Interests in Movable Property is the country’s first system to enable businesses and individuals to pledge movable assets such as equipment, crops, livestock or future income as collateral for loans, expanding loan opportunities for the micro, small and medium enterprises that comprise more than 90 percent of the country’s private sector. Lao banks typically accept only real estate as security for loans, as they had no means of securing their interest in movable assets.
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