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UN-Habitat urges innovative financing to promote urban renewal

Xinhua, April 13, 2015 Adjust font size:

The international community should explore innovative financing mechanisms to promote urban renewal in developing countries that have experienced population explosion in cities.

Joan Clos, UN-Habitat Executive Director, said on Monday that efficient transport systems, access to basic amenities and security underpin sustainable urbanization.

"Cities have evolved to become defining features of a globalization and sustainable development. Governments must prioritize sound policies and investments to upgrade their physical and social infrastructure," Clos told journalists in Nairobi.

He spoke at a press briefing ahead of the UN-Habitat Governing Council to be held in Nairobi from April 17-23.

The upcoming council will discuss innovative mechanisms to bridge financing gap on slum upgrading programs in developing world. Delegates from governments, multilateral agencies, industry and civil society will discuss urbanization in the context of the post 2015 development agenda.

Clos said the international community has not back-tracked on earlier pledges to finance programs that advance sustainable urbanization.

"There is remarkable appreciation on the role of urbanization to fuel global prosperity, innovations and enterprise. Financing towards programs that promote urban renewal has taken center stage, " Clos said.

Clos noted that uncertainties in the financial markets and other emerging challenges like war on terror could affect financing towards urban renewal.

"State incentives alongside public private partnerships are crucial to expand access to basic services in urban slums. Good roads, health and educational facilities as well as access to markets will transform the lives of the urban poor," he said.

An international conference to discuss financing towards post 2015 development agenda slated for July in Addis Ababa will also focus on urban renewal. Clos said the international community will renew pledges to support sustainable urbanization in developing countries. Endi