Accelerating Movable Asset Finance & Supply Chain Finance in Post-COVID Developing APEC Economies
22 November 2022 (Tuesday) 8:30AM – 12:30PM
The FIDN conferences are held in collaboration with APEC member economies to assist them in translating into actual laws and policies ABAC recommendations that Finance Ministers have incorporated in the Cebu Action Plan to facilitate financing of MSMEs. In this conference, we will focus on improvements in policy frameworks related to the use of movable assets as collateral (secured transactions). This conference is being convened in collaboration with the Bangko Sentral ng Pilipinas, IFC/World Bank and the Financial Executives Institute of the Philippines (FINEX), with the support of AusAID.
ABOUT THE CONFERENCE
Secured commercial finance can be based on either immovable assets or movable assets. The typical problem in most developing economies is that commercial lenders rely mostly on immovable collaterals which MSMEs often do not have. Over the past decade, several economies in this region have successfully developed a large market for lending against movables including supply chain finance (SCF). This has not only created new and growing business opportunities for banks and non-bank lenders, but also significantly deepened financial inclusion for MSMEs and agriculture sector operators.
With the support of APFF FIDN, the Philippines has successfully started a serious process to reform its foundations for movable asset finance with the approval of the Personal Property Security Act (PPSA) in 2018 and the on-going development of the Personal Property Security Registry (PPSR). These need to be eventually translated into a substantive movables finance & SCF market over the next several years in order to meet the country’s financial inclusion objectives and to support the post-COVID economic recovery.
Leveraging the results of an IFC study on the Philippines SCF market development, the 11th FIDN conference will reflect on the key findings, understand current market gaps and discuss recommendations for the different players such as financial regulators, MSME & agri support ministries, value chain participants, financial institutions, e-platform operators and warehousing/logistics services providers, among others. On this basis, the meeting will also highlight similar gaps in other developing APEC economies, review recent actions taken, and explore regional experience, lessons and market development steps.
AGENDA
| 8:30 – 9:00 | Digital Check-In (All time indicated are Manila time) |
| 9:00 – 9:30 | OPENING REMARKS |
| Bernadette Romulo-Puyat, Deputy Governor, Bangko Sentral Ng Pilipinas (BSP) | |
| Michael Arcatomy H. Guarin, President, FINEX | |
| Allen Forlemu, Director, Financial Institutions Group, Asia Pacific, IFC | |
| Hon. Richard Sisson, Deputy Head of Mission, Australian Embassy to the Philippines | |
| 9:30 – 10:45 | SESSION I: Movables Finance & SCF in the Philippines – Current Status and Recommendations for Future Development |
| Moderator: J. Albert Gamboa, Director & CFO, Asian Center for Legal Excellence | |
| Study Team Members: Francisco Ed. Lim, Senior Legal Counsel, ACCRA Law, former President & CEO, Philippine Stock Exchange; and former President, FINEX | |
| Jinchang Lai, Principal Operations Officer, Financial Institutions Group, Asia Pacific, IFC | |
| Cliff Entrekin, CEO, Convergence Capital Group (Hong Kong) | |
| Discussants: Ellen Joyce L. Sufficiencia, Director, BSP Financial Inclusion Group – Center for Learning and Inclusion Advocacy | |
| Bob Trojan, President & CEO, Token Insights & Financial Services Insights; Sherpa, APEC-APFF Financial Infrastructure Development Network (FIDN); and former CEO, Commercial Finance Association (CFA, current SFNet), USA | |
| Jujut Enriquez, SME Banking Head, Union Bank of the Philippines | |
| Regina Alvarez Planas, Senior Operations Officer, Financial Institutions Group, Asia Pacific, IFC | |
| Q&A, and Comments from the Audience | |
| 10:45 – 12:15 | SESSION II: Panel Discussion – What will it Take to Scale up the Movables Finance & SCF Market in the Philippines and Other Developing APEC Economies under the Context of Post-COVID Recovery? |
| Moderator: Chris Wohlert, Commercial Distribution Finance Leader, Wells Fargo; and FIDN Sherpa | |
| Speakers: Javey Paul D. Francisco, Commissioner, Philippines Securities and Exchange Commission (SEC) | |
| Gerardo P. Sirios, Administrator, Land Registration Authority (LRA) | |
| Jose Vicente L. Camus, Lead Consultant – Infrastructure Projects & Finance, OLLI Consulting Group Inc; Vice Chair, FINEX Financial Inclusion Committee | |
| Michael Harte, Global Head of Trade Receivables Products, Standard Chartered Bank | |
| Thompson Lui, Regional Manager, South and Southeast Asia, FCI | |
| Saket Sarda, Head of Trade Finance, Funding Societies | |
| Rajesh Mehra, Senior Operations Officer, Financial Institutions Group, Asia Pacific, IFC | |
| Q&A, and Comments from the Audience | |
| 12:15 – 12:30 | SUMMARY AND CONCLUSIONS |
| Julius Caesar Parrenas, APEC-APFF Coordinator and Senior Advisor, Daiwa Institute of Research, Japan | |
| Miguel Angel Soriano, Senior Operations Officer, Financial Institutions Group Asia Upstream, IFC | |
| Domingo Go, Director, FINEX Master of Ceremonies |