Rossbach: Capital not directed toward housing sector

One of the main problems in the housing and urban infrastructure sector is that financial resources are not being directed toward these areas, Anacláudia Rossbach, Executive Director of the UN-Habitat, said during World Urban Forum 13 in Baku.

Report quotes her as saying there are sufficient financial resources in the world, but they are not being allocated to housing and urban development projects.

"There are substantial financial resources in banks, pension funds, and various investment funds. However, these funds are not being directed toward development projects, housing construction, and urban infrastructure. A number of countries have successfully addressed housing issues by using domestic financial resources," she said.