WUF13 calls for reform of global housing finance systems

Existing housing finance systems remain fragmented and inaccessible to millions of people, while unequal access to credit and limited public investment continue to deepen housing inequality and spatial exclusion, as stated in the Baku Call to Action, adopted following the 13th session of the World Urban Forum (WUF13).

According to Report, the document highlights that current housing finance mechanisms often fail to reach low-income households and communities.

The authors call for a rethinking of the entire housing finance chain to improve inclusiveness and scale up support by strengthening municipal finance, expanding fiscal autonomy, and developing revenue-generation strategies.

The document also urges development banks and the private sector to prioritize expanding access to credit and creating predictable long-term financial mechanisms that account for territorial differences and target the most vulnerable groups.

It further emphasizes the need for cooperation between the private sector and national and local governments, central banks, financial institutions, and community savings structures to develop new risk assessment and management tools, targeted subsidies, improved credit access, and blended finance mechanisms.

Parliamentarians and national treasuries are encouraged to diversify public subsidies across different housing approaches and to more actively mobilize private and community savings.

The document also notes that fragmented planning systems continue to reinforce spatial inequality and inefficient urban growth by separating housing from land, infrastructure, transport, livelihoods, and basic services.

In this context, the authors call for integrated and systemic planning approaches that embed housing policy within broader territorial and urban strategies, focusing on equity, inclusion, spatial justice, and the right to the city.

It stresses that such approaches should be implemented by strengthening the capacity of local authorities, civil society organizations, grassroots movements, and the private sector to jointly develop solutions.