Financial Law

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The three topics covered by our financial law focus area are:

  • access to finance
  • insolvency and debt restructuring and
  • financial technology (fintech)

Why reform is needed

The EBRD strives to promote a sound, efficient and predictable legal and regulatory framework for access to finance to support small and medium-sized businesses in the face of liquidity constraints in countries where the Bank works. Secured transactions, insolvency systems and creditor-debtor relationships are a cornerstone of modern economies and of our work in EBRD emerging-market regions. Financial technology (fintech), representing high-tech innovations in the financial sector, has become a major driver of growth in economies where the EBRD operates. 

The LTP's role

The EBRD has substantial experience in supporting legal reform to promote access to finance, insolvency and creditor-debtor systems, and financial technologies. We have facilitated the development of legal and regulatory systems for insolvency and frameworks to support financial restructuring, secured credit, strengthening pledges and mortgages, supporting development of different agricultural financing products and exploring alternative financial structures such as leasing and factoring. We have also led the development of national non-performing loan strategies in line with the work done across the EBRD on the Vienna Initiative 2.0.

On the basis of our significant positive experience and ability to present cross-border knowledge and expertise, we are exploring well established and innovative financial products and encouraging legislators and market participants to use insolvency as a tool for corporate rescue. We hope our efforts will assist countries where the EBRD works in bridging some transition gaps that still exist in this area and in modernising their secured transactions and insolvency legal frameworks.


Ammar Al-Saleh, Senior Counsel

Catherine Bridge Zoller, Senior Counsel




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