President William Ruto has stated that the re- engineering of the international financial architecture will help tackle poverty and reduce inequality in the world. Speaking during the opening of the second session of the United Nations Habitat Assembly in Nairobi, Ruto said the current development financing is deficient and dotted with discrimination, adding that the prevalent unfairness has exacerbated the vulnerability of the majority of humanity.
Ruto further called for the correction of “this systematic injustice” for effective achievement of sustainable development goals.
“The change will also effectively mobilize multilateralism to achieve global net zero emissions and avert a climate catastrophe,” Ruto said.
However the president told the assembly that sufficient and affordable financing will enable countries to promote economic transformation, climate action and sustainable development. Additionally, he stated that Kenya was committed to offering decent housing to its citizens as the move is critical to the achievement of sustainable urbanization.
“We have integrated universal housing as a critical pillar of the bottom up economic transformation agenda,” he explained.
Moreover, he said that it was urgent to strengthen the UN-habitat to support member states in advancing sustainable urbanization and human settlement.
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