UN-Habitat advocates for joining forces with IFIs to address urbanization challenges

The United Nations Human Settlements Programme (UN-Habitat) has expressed its readiness to become part of the international financial institution (IFI) community, UN-Habitat Executive Director Anaclaudia Rossbach said at a panel discussion at the 13th session of the World Urban Forum (WUF13) in Baku, Report informs.

Furthermore, UN-Habitat advocates for consolidating joint efforts with development banks to address global urbanization challenges, she said.

"There is a pressing need for close collaboration between UN-Habitat and international financial institutions. Therefore, we are committed to becoming part of the IFI community. The majority of development finance flows through banks, not directly to UN agencies. Without pooling our resources, no single organization can independently address the enormous development needs," Rossbach emphasized.

She also noted that the integration of financial potential, professional expertise, and geographic coverage of various institutions will make it possible to significantly enhance the effectiveness of activities at the local level.