BAKU, Azerbaijan, May 21. A session titled “A New Deal for Housing Finance” is taking place in Baku as part of the World Urban Forum (WUF13), Trend reports.
The session will take place in three stages. First, the economic context will be presented, within which the housing sector will be examined as a key area of development with macroeconomic significance.
Subsequently, during keynote speeches, leaders of international financial organizations will discuss the challenges faced by development stakeholders and the reasons why existing housing finance systems fail to ensure housing affordability, particularly in low- and middle-income countries.
This will be followed by a moderated panel discussion featuring representatives from government agencies, city leaders, multilateral development banks, and practitioners, who will discuss specific avenues for reform. Participants will examine how fiscal policy, land management, urban planning systems, and financial regulation can be better aligned to support the construction of affordable housing, as well as how to scale up alternative instruments such as public housing banks, land-based financing, guarantees, blended finance, rental housing funds, and public financing initiatives.
The panel will conclude with an interactive plenary discussion, during which participants will be invited to discuss how housing can be reaffirmed as one of the key pillars of sustainable development.
Today marks the fifth day of WUF13 in Baku.
The first day included a ministerial meeting dedicated to the New Urban Agenda, a ministerial roundtable, assemblies for women and civil society, business sessions, and discussions on urban prosperity. An official ceremony marking the raising of the UN and Azerbaijani flags also took place.
The second day stood out for the inaugural Leaders' Summit, featuring high-level discussions on the global housing crisis, urbanization policy, and urban resilience. Concurrently, the opening of the Mexico City pavilion took place, serving as a significant platform for expanding cooperation with the Latin American region and preparing for WUF14.
The third day of WUF13 featured a comprehensive program of events covering the global housing crisis, the formation of safe and inclusive cities, climate resilience, artificial intelligence and urban governance, green urbanization, social equity, and sustainable transport.
One of the highlights of the third day was the signing of a sister-city memorandum between the Azerbaijani city of Shusha and the Turkish city of Trabzon.
The fourth day of WUF13 featured a broad program of events dedicated to urbanization, climate change, inclusive urban development, housing policy, and sustainable governance.
One of the important events of the UN Special Program for the Economies of Central Asia (SPECA) Cities Forum, held on the fourth day, was the announcement of Almaty’s official accession to the “Declaration of Intent on the Establishment of the SPECA Smart Climate-Resilient Cities Forum.”
Also, for the first time in WUF history and at Azerbaijan’s initiative, the “WUF13 NGO Forum: Global Partnership and Decision-Making” was held.
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.
Will be updated
