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Increasing Access to Credit through Reforming Secured Transactions in the MENA RegionThis paper provides a comparative
 summary of secured transactions systems related to the use
 of movable property as collateral in the MENA region vis a
 vis international practices in countries with modern secured
 transactions systems. The paper sets out the importance of
 introducing reforms in the area of secured transactions with
 the objective of increasing access to credit for businesses,
 particularly SMEs. The MENA region clearly lags behind all
 other regions in the introduction of secured transactions
 reforms. The paper summarizes many of the weaknesses common
 across the region. The two main critical areas that need
 urgent reforms are the creation of modern secured
 transactions laws and electronic movable collateral
 registries, and the need to improve enforcement mechanisms
 for security interests in movable property.
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Doing Business Reform MemorandumBulgaria experienced strong economic
 growth prior to and shortly after joining the European Union
 (EU) in 2007. Under the better regulation program, the
 government adopted over 100 measures to reduce the
 regulatory and administrative burden, but no formal
 mechanism was introduced to regularly monitor and review its
 implementation at the national or municipal level. Some
 areas, in which entrepreneurs expected to see improved
 efficiency, actually saw setbacks. The time needed to get a
 construction permit, import license, or operational license
 almost doubled between 2008 and 2013, and senior managers of
 firms reported that they were spending more time, 22 per
 cent in 2013 , dealing with public officials or public
 services than in 2008, when it took 14 per cent of their
 time. The final diagnostic study considered in this memo is
 the Doing Business report, which is also the basis for the
 reform recommendations presented in the document. According
 to last year’s Doing Business report, business regulation in
 Bulgaria varies significantly across the areas measured.
 Bulgaria is among the global top 50 performers in 4 of the
 10 areas, specifically, protecting minority shareholders
 (14th), getting credit (23rd), resolving insolvency (38th),
 and starting a business (49th). Bulgaria‘s performance lags
 behind in four areas, getting electricity (125th), dealing
 with construction permits (101st), paying taxes (89th), and
 enforcing contracts (75th).
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Doing Business 2014 Regional Profile : European UnionThis regional profile presents the Doing
 Business indicators for economies in European Union (EU). It
 also shows the regional average, the best performance
 globally for each indicator and data for the following
 comparator regions: East Asia and the Pacific, Europe and
 Central Asia, Middle East and North Africa, Latin America,
 and OECD High Income. The data in this report are current as
 of June 1, 2013, except for the paying taxes indicators,
 which cover the period January to December 2012. Regional
 Doing Business reports capture differences in business
 regulations and their enforcement across countries in a
 single region. They provide data on the ease of doing
 business, rank each location, and recommend reforms to
 improve performance in each of the indicator areas. The
 report sheds light on how easy or difficult it is for a
 local entrepreneur to open and run a small to medium-size
 business when complying with relevant regulations. It
 measures and tracks changes in regulations affecting 11
 areas in the life cycle of a business: starting a business,
 dealing with construction permits, getting electricity,
 registering property, getting credit, protecting investors,
 paying taxes, trading across borders, enforcing contracts,
 resolving insolvency and employing workers. Doing Business
 presents quantitative indicators on business regulations and
 the protection of property rights that can be compared
 across 189 economies, from Afghanistan to Zimbabwe, over
 time. The data set covers 47 economies in Sub-Saharan
 Africa, 33 in Latin America and the Caribbean, 25 in East
 Asia and the Pacific, 25 in Eastern Europe and Central Asia,
 20 in the Middle East and North Africa and 8 in South Asia,
 as well as 31 OECD high-income economies. The indicators are
 used to analyze economic outcomes and identify what reforms
 have worked, where and why.