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