UN-Habitat Executive Director Anacláudia Rossbach has stressed that it is impossible to overcome modern challenges without development banks.
According to Oxu.Az, she made these remarks at the event titled "From Global Housing Finance to Local Initiatives for Affordable Housing: Harnessing the Potential of Global Development and Subnational Finance" within the framework of WUF13.
"The reduction of funding, especially in the humanitarian sector, has shown how important development is. The international community has failed in transitioning from humanitarian aid to sustainable development," she noted.
Rossbach added that this is a wake-up call: "If we, as the UN and UN-Habitat, want to expand our involvement in development, we cannot just provide food and save lives. That is the foundation, but if we don't go further, societies won't truly develop."
The director emphasized that without development banks, it is impossible to address the challenges of sustainable development goals, the climate agenda, and the New Urban Agenda.
