In many countries in the Pacific region, it is difficult to obtain credit. Many financial institutions believe that lending is extremely risky and that loans may not be repaid. There is, however, a means to reduce lending risk through legal and institutional changes. Commonly described as secured transactions reform or personal properties securities reform, these reforms can potentially transform access to credit for firms and individuals. This publication by the Asian Development Bank explains why secured transactions reform is necessary, describes the characteristics of a secured transactions framework, and some experiences in Pacific countries that have adopted the reforms.