This topic covers two aspects of access to finance—the strength of credit reporting systems and the effectiveness of collateral and bankruptcy laws in facilitating lending. The most recent round of data collection for the project was completed in May 2018. See the methodology for more information.

Doing Business Reforms


Getting Credit – Credit Information

Worldwide, 19 economies implemented reforms improving their credit information systems in 2017/18. The most common feature of reforms making it easier to get credit was the introduction of new credit bureaus and registries. Côte d’Ivoire made the greatest improvement in credit reporting by increasing the coverage of its recently established credit bureau, Creditinfo VoLo. The bureau began operations in February 2016 providing positive and negative credit data on firms and individuals as well as credit scores. In addition, in December 2017, Côte d’Ivoire allowed the public utility companies to submit customer data to the credit bureau, further raising the coverage of the bureau beyond 5% of the economy’s adult population.

Azerbaijan, Benin, Haiti, Ireland and San Marino also established new credit bureaus and registries in 2017/18 increasing the availability of credit information in those economies. The new bureau in Azerbaijan, established in February 2018, provides data from utilities and retailers in addition to data from banks and offers value-added services such as credit scores. Other economies, including Madagascar and the members of the Eastern Caribbean Currency Union, improved their regulatory frameworks in the area of credit reporting. Antigua and Barbuda and Grenada, for example, improved access to credit information through the introduction of regulations governing credit bureaus.

The distribution of data from utility companies and retailers was another common feature of reforms making it easier to get credit in 2017/18. Indonesia, Jamaica and Jordan implemented reforms in this area expanding the scope of information collected and reported by their credit bureaus. Bank Indonesia, for example, adopted regulations requiring the submission of data to the bureau by public utility companies; the credit bureau, PT Pefindo Biro Kredit, started distributing data from a retailer and a telecommunications company in February 2018. The inclusion of these types of data can help borrowers with a limited credit history to increase their chances of accessing finance by allowing them to build their creditworthiness records through the repayment of their utility bills and retail purchases.

Getting Credit – Legal Rights

In 2017/18, 13 economies made it easier for businesses to obtain credit by modifying legislation to encourage the use of movable property as collateral. The most common feature of reform included expanding the range of movable assets that can be used as collateral and granting priority to secured creditors over other claims within insolvency proceedings. The United Arab Emirates established a unified and modern collateral registry and permitted out-of-court enforcement of security interests in movable assets. The Arab Republic of Egypt granted secured creditors priority over other claims within and outside of insolvency proceedings. Djibouti allowed future assets to be used as collateral and the automatic extension of security interests to products, proceeds and replacements. Djibouti also permitted the general description of debts and obligations and granted priority to creditors over other claims outside of insolvency proceedings. All three economies allowed the creation of non-possessory security interests in single categories of movable assets such as accounts receivables, inventory and tangible movable assets.

Similarly, economies in South Asia, Sub-Saharan Africa and Europe and Central Asia have been implementing reforms related to secured transactions laws. Afghanistan provided secured creditors with absolute priority inside bankruptcy. Kenya implemented a functional secured transactions system and created a unified and noticed based collateral registry. Turkey extended the security interest to products, proceeds and replacements of the original collateral, and secured creditors are now given absolute priority over other claims, such as labor and tax, both outside and within bankruptcy proceedings.

In 2017/18 Azerbaijan, the top improver on the legal rights indicators, strengthened access to credit by introducing a new secured transactions law, by setting up a new collateral registry and by introducing amendments to the insolvency law. The new laws implemented a functional secured transactions system, broadened the scope of assets that can be used as collateral and provided a time limit and clear grounds for relief from the automatic stay for secured creditors during reorganization procedures. The collateral registry is also unified, modern and notice-based.


= Doing Business reform making it easier to do business. = Change making it more difficult to do business.