UN-Habitat: Financial institutions not paying enough attention to housing sector

International financial institutions are paying insufficient attention to the housing sector when allocating funds for recovery and development, UN-Habitat Head of Programme Anaclaudia Rossbach said at an event at WUF13, Report informs.

According to her, there is a serious imbalance between humanitarian and long-term funding for housing programs.

Rossbach noted that humanitarian funds are primarily focused on emergency assistance and temporary accommodation, while the share of long-term housing projects in the portfolios of international development banks remains extremely low.

"The housing sector receives a very small share of international development finance," she said.

According to Rossbach, countries that have successfully addressed housing issues have primarily used domestic financial mechanisms.