Anaclaudia Rossbach, Executive Director of UN-Habitat, spoke at the World Urban Forum (WUF13) in Baku.
She stated that Africa's urban population will increase by 600-900 million by 2050.
Currently, the housing deficit in Africa exceeds 60 million units. If current urbanization trends continue, this figure will surpass 130 million by 2030.
"The financing gap in this sector is over 1.4 trillion US dollars," Rossbach noted.
The UN-Habitat chief emphasized that urbanization in Africa is faster than in other regions of the world.
She believes the current crisis creates huge investment opportunities in housing construction, municipal infrastructure, climate-resilient construction, and the transition to green buildings.
"The future of African cities directly depends on how infrastructure projects are financed and implemented in this decade," she added.
