Emilia Saiz: Local finance, development banks should transform to address housing challenges

Overcoming the global housing crisis requires coordinated action by national, international, and regional development banks, Emilia Saiz, Secretary General of UCLG (United Cities and Local Governments), said at the panel discussion "The Global Housing Crisis - What's the Plan?" as part of the 13th session of the World Urban Forum (WUF13) in Baku, Report informs.

"The local finance system needs to be transformed. This transformation must affect both the international and national financial infrastructure. It is crucial for us to ensure that national, international, and regional development banks function in a coordinated manner. And yes, they must contribute to building the capacity of local and regional authorities. However, capacity alone is not enough. Competence plays an equally important role.

Speaking of competence, it's worth considering that housing policy is far from being the sole responsibility of local and regional authorities, contrary to popular belief. We need to expand the scope of our activities. We need to raise the bar for ambitious outreach. We must ensure that this becomes a collective agenda that transcends local and territorial realities and extends beyond national borders," Saiz added.