The United Nations designated the first Monday of October of every year as World Habitat Day to reflect on the state of our habitats, and on the basic right of all to adequate shelter, the Day is also intended to remind the world that we all have the power and the responsibility to shape the future of our cities and towns.

In 1985 the United Nations designated the first Monday of October every year as World Habitat Day. The idea is to reflect on the state of our towns and cities and the basic right of all to adequate shelter. It is also intended to remind the world of its collective responsibility for the future of the human habitat.

2023 Theme: Resilient urban economies. Cities as drivers of growth and recovery. The 2023 World Habitat Day aims to convene various city stakeholders to discuss the ways in which cities can be primed for recovery following the global intersecting negative economic shocks of COVID-19 and conflicts by:

• Broaching the different dimensions of economic slowdown that cities are currently experiencing and identifying actions that cities can take to boost economic recovery.
• Sharing experiences among different cities on how they are positioning themselves to tackle inflationary pressures and other tight global financial conditions.

2023 has been a particularly challenging year for Urban Economies. The global economy growth itself is declining to about 2.5% and, apart from the initial COVID-19 crisis in 2020 and the global financial crisis in 2009, this is the weakest growth experienced since 2001 [WEO by the IMF]. Given the size of the contribution of cities to the national economy, the future of many countries will be determined by the productivity of its urban areas. Cities are the engines creating the value that boosts economic recovery. For this economic growth and recovery to be sustainable, we need cities that can absorb, recover, and prepare for future economic shocks [OECD, 2023]. It is crucial that this is also packaged under the green recovery framework that scales up private and public investments to finance the transition to a climate-neutral economy in a post-COVID world.

Cities all over the world have already embarked on this journey through implementing various models. UN-Habitat, in partnership with the World Economic Forum, believes that these models can be localized and scaled up through the Global Partnership for Local Investment, where experiences are shared to build a local finance framework for cities and communities, to help distribute existing funding and finance to where it can deliver the greatest impact. In the prevailing economic situation, local governments have faced increased difficulty to gain increased access to external resources to fund their development. The local finance framework integrates three key solutions to facilitate this access:

• Cities Investment Facility (CIF)
• UN-Habitat/UNCDF Guarantee Facility for Sustainable Cities
• Rapid Own Source Revenue Analysis (ROSRA)

Links:
World Habitat Day