At the World Urban Forum’ in Baku, Colombia, Mexico and Ecuador, delegations from ’ pressed for new housing financing models that could support affordable, climate-resilient cities.
As urban populations continue to grow in ’, policymakers have warned that traditional state-led housing systems are struggling to keep up with rising demand, climate risks and expanding inequality.
Leading voices included Colombian Housing Minister Aydeé Marsiglia Bello, who said governments can no longer rely solely on public spending to solve the scale of the housing crisis.
Bello told Euronews Business’a: “Public investment continues to play a fundamental role, especially in guaranteeing equality and protecting vulnerable communities.” “But today housing problems are too big for governments alone to solve.”
Colombia said ’ is combining public subsidies, regional investments and multilateral cooperation to expand affordable housing and integrate climate change resilience into urban planning.
Through initiatives such as the “ Resistant and Inclusive Housing Project, we are integrating housing with climate cohesion, public space and social engagement, ” added.
Reforming global finance for an urban world
Delegates have repeatedly stressed how climate-related disasters are putting increasing pressure on fragile urban systems, especially in low-income communities that are vulnerable to displacement and unregistered housing.
Former Quito mayor Mauricio Rodas said the future of urban development will largely depend on reforming global financial systems to give cities better access to long-term capital.
Speaking to Euronews Business’a, Rodas said that “ is located in cities where more than half of the world's population lives. ’ will approach, he said. “Cities global GDP’ 's %It produces 80 ’ini, but it also produces CO2 emissions. %It produces more than 70’.”
Rodas argued that the current international financial architecture, largely designed around national governments, is no longer suited to the increasingly urbanized global economy.
"We need to reform the international financial system by providing new direct financial opportunities for cities," “ said, warning that municipalities often have difficulty providing funding for affordable housing and climate adaptation projects.
He added that as governments face increasing financial pressure, it will become increasingly important to attract private investment into affordable housing.
Rodas, “Housing is basically a matter of honor, but also a matter of providing opportunities for prosperity.” said.
He argued that one of the main obstacles was the lack of regulatory frameworks that could give investors long-term confidence in urban housing projects.
Bello reiterated this view, noting that limited funding capacity in vulnerable municipalities is one of ’'s biggest hurdles.
One of the main bottlenecks remains the financial ceiling and limited long-term financing capacity for vulnerable regions, “ said.
The problem of private equity and affordability
The discussions in Baku’ also focused on the increasing role of private capital in urban development; Governments were looking for ways to attract corporate investment into affordable housing without undermining social protections.
Bello, “Private capital is essential to scale flexible infrastructure, sustainable urban development and climate-compliant housing solutions.
He added that governments should create “ stable regulatory frameworks to attract institutional investors, improve regional planning and reduce uncertainty through clearer risk management systems.
Mexico City looks ahead to 2030’
Mexico City mayor Clara Brugada said the forum helped shape the next phase of the global urban agenda ahead of the 2030 sustainable development goals.
Describing Baku’ as an important moment to review how cities can realistically achieve their future urban development goals, “ said this forum means building the foundations for 2030.
Brugada also confirmed that the next World Urban Forum’ will take place in Mexico City’, placing the Mexican capital at the center of upcoming international urban policy debates.
On housing, Brugada said Mexico City’ has increased public investments to combat both housing shortages and deteriorating living conditions. He said he doubled his housing budget after taking office, describing it as one of the city's top priorities.
Brugada also warned of the growing impact of gentrification in the Mexican capital of ’, describing it as part of a broader global trend that is driving low-income residents away from central areas. As the city expands its social housing programs and tenant protections, “adil is drafting new legislation on affordable and reasonable rents.
Mexico City has committed to carry out 200,000 housing actions by 2030 as part of broader efforts to strengthen housing access and affordability.
Discussions at WUF13’ highlighted how Latin American countries are increasingly positioning cities not only as engines of economic growth, but also as testing grounds for new urban finance models that can shape housing policy around the world.
