BAKU, Azerbaijan, May 19. The European Commission is preparing the first European Affordable Housing Plan and expanding financial instruments for its implementation, including investment platforms, blended financing of grants and loans, as well as the issuance of housing bonds to attract private capital, Matthew Robert Baldwin, Deputy Director-General heading the European Commission's Housing Policy Task Force, said, Trend reports.
He made the remark during the session "Housing at the Center of Global Coalitions," held within the framework of the World Urban Forum (WUF13) in Baku.
"Housing policy must take a key place on the agendas of the G7, G20, and G77, as the shortage of affordable housing directly impacts labor markets, economic growth, and demographic processes," the European Commission representative said.
He noted that the lack of affordable housing is becoming a factor that limits hiring opportunities, as people cannot afford to live where jobs are located. According to Baldwin, this is already affecting not only the social sphere but also economic competitiveness.
He also pointed out that the average age at which young people leave their parental home exceeds 30 years in several countries, which is linked to the high cost and limited accessibility of housing, and could influence demographic trends.
Furthermore, he added that the housing problem manifests most acutely in cities and affects vulnerable segments of the population and youth: "In this regard, cities are viewed as key actors capable of addressing affordable housing issues alongside climate and transport challenges."
The third day of the 13th session of the World Urban Forum (WUF13) is underway in Baku.
On the first day, a ministerial meeting dedicated to the New Urban Agenda, a roundtable of ministers, assemblies of women and civil society, business sessions, and discussions on urban well-being were held. A ceremony for raising the flags of the United Nations and Azerbaijan also took place within the framework of the forum.
The second day of the forum drew attention with the first-ever Leaders Summit. High-level discussions on the global housing crisis, urbanization policy, and urban resilience were held that day. At the same time, the Mexico City pavilion was inaugurated within the framework of WUF13. The pavilion was presented as an important platform for expanding cooperation with the Latin American region and preparing for WUF14.
WUF13, which has attracted more than 40,000 registered participants from 182 countries, will continue until May 22. Held under the theme “Housing the world: Safe and resilient cities and communities,” the forum brings together governments, international organizations, experts, and representatives of civil society to strengthen global cooperation in the field of sustainable urban development.
