Asian Development Bank and Partners Host Conference to Strengthen Insolvency Systems in Asia-Pacific

A well-functioning insolvency system is essential for the competitiveness and growth of an economy. Yet, many countries in Asia and the Pacific have inefficient insolvency frameworks which hinder entrepreneurship opportunities, access to finance, economic growth, and can also lead to sovereign debt issues. 

The Asian Development Bank (ADB), INSOL International, Singapore Management University, The University of Cambridge's Centre for Corporate and Commercial Law, and The University of Chicago's Center on Law and Finance hosted a hybrid conference in Manila, Philippines on 15-16 December 2022: Strengthening Insolvency Systems in Asia and the Pacific which convened industry experts and academics to analyze how countries in the region can strengthen insolvency and restructuring frameworks, taking into account the nuanced legal, market and institutional features within a particular jurisdiction.  

In his opening address, ADB General Counsel Thomas Clark said, “Law and policy is not just about lending to our developing member countries, but about helping them, sharing global best practices, institutionalizing needed reforms that will attract private capital, bring stability to legal regimes, and boost economic activity. Law and policy reform is a core part of what we as lawyers do to help, to educate, and create impact.” 

Having an efficient insolvency framework is essential for any economy and even more for emerging markets due to greater financial needs. ADB is committed to implementing and sharing institutional and evidence-based knowledge to strengthen insolvency systems across the Asia and the Pacific 

The post-conference booklet is available here.