PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

607551

Primary Business Area

Financial Institutions Group

Disclosure Date

Jul 2, 2024

Country

Timor-Leste

Region

East Asia and the Pacific

IFC Approval Date

Nov 15, 2023

Status

Active

Estimated Total Budget

$1,530,466.00
(Project budget includes all project-funded activities)

Last Updated Date

Jul 25, 2024

Project Estimated Start Date

Nov 1, 2023

Project Estimated End Date

Dec 31, 2027

Client Legal Name

CENTRAL BANK OF TIMOR LESTE

Project Description

The Project will work to set up the required legal and institutional foundations for movable asset lending. Specifically, it is envisioned to consist of the following three components: 1. Secured Transactions Legal and Regulatory Reform: Facilitate the draft, approval and advocacy of the law and educate lenders, relevant associations and regulators about the necessity of the reform and the new possibilities provided by movable asset finance. 2. Collateral Registry Development: Support the government counterparts on the development of an appropriate institutional and operational model of the Web-based security interest registration system covering the whole country and promote the use of the registration system. 3. NDTL Regulation and initial market development: Assist BCTL to develop regulatory framework on non-deposit taking lenders (NDTLs), as well as the initial market development.

Development Results

E&S Risks / Impacts and Mitigation