Zambia STR Ph 2

completed

This project is a continuation of WBG Finance, Competitiveness and Innovation's (FCI) Zambia Secured Transactions Phase 1 project ( #599863) which led to the establishment of the best practice legal and institutional framework for movable asset-based lending. The Phase 2 of this project will address all the main obstacles and non-leveraged opportunities for the development of a robust movable asset based lending market. The project will have six components: (1) Increase the lenders' and key stakeholders’ understanding and knowledge of the movable asset based financing; (2) Assess and adjust prudential regulation guidelines and oversight procedures on movables based collateral lending to further facilitate movable asset based lending; (3) Amend the Small Claims Court Act and continue to strengthen the capacity of the Zambia Judiciary on the MPSI & Insolvency Acts, including the new changes to the Small Claims Court Act; (4) Develop and implement the leasing regulation in collaboration with Bank of Zambia; (5) Build capacity of the insolvency regulator/administrator (PACRA) on bankruptcy and insolvency practices and support the development of the insolvency practitioners' industry; and (6) Strengthen the statistical analysis and reporting capability based on data from the Collateral Registry database to guide policy directives aimed at reporting on the development of a movables based finance industry in Zambia.