ADB advocates for systemic approach to affordable housing development instead of one-off projects

The Asian Development Bank (ADB) is urging a shift from individual projects to a programmatic approach in building an affordable housing ecosystem, stated Srinivas Sampath, Director of the Urban Development Division at ADB, during the panel discussion "From Global Housing Finance to Local Affordable Housing Action: Leveraging Global Development Finance and Subnational Finance" held within the framework of the 13th session of the World Urban Forum (WUF13) in Baku, Report informs.

"There is a pressing need to reconsider approaches to housing policy. The time has come to move from implementing fragmented projects to a comprehensive programmatic formation of an affordable housing ecosystem," the division director emphasized.

Among the priority areas, he highlighted increasing supply through urban planning mechanisms and transit-oriented development, as well as ensuring broader access to financial resources for low-income population groups.

Separately, Sampath addressed the topic of rental housing, which, in his view, is becoming a significant asset class and is capable of attracting private investors, particularly against the backdrop of large-scale internal migration processes in Asian countries.