The re-engineering of the international financial architecture will help tackle poverty and reduce inequality in the world.
President William Ruto has said the current development financing is deficient and dotted with discrimination.
He noted that the prevalent unfairness has exacerbated the vulnerability of the majority of humanity.
The Head of State called for the correction of “this systemic injustice” for effective achievement of Sustainable Development Goals.
“The change will also effectively mobilise multilateralism to achieve global net-zero emissions and avert a climate catastrophe.”
He was speaking on Monday at the UN Complex in Nairobi during the opening of the Second Session of the United Nations Habitat Assembly.
He told the Assembly that sufficient and affordable financing will enable countries promote economic transformation, climate action and sustainable development.
The Head of State said Kenya was committed to offering decent housing to its citizens as the move is critical to the achievement of sustainable urbanisation.
“We have integrated Universal Housing as a critical pillar of the Bottom-Up Economic Transformation agenda,” he explained.
He said it was urgent to strengthen the UN-Habitat to support member States in advancing sustainable urbanisation and human settlement.
Later, President Ruto met Egypt’s Minister for Housing, Utilities and Urban Communities Dr Assen El-Gazzar and Malaysia’s Minister of Local Government Development Hono Nga Kor Ming.
The two expressed their countries willingness to support Kenya navigate the affordable housing and slum upgrading agenda.
They said President Abdel Khalil el-Sisiel-Sisi (Egypt) and Prime Minister Anwar Ibrahim (Malaysia) had expressed willingness to share their experience and best practice in the housing scheme.
Distributed by APO Group on behalf of President of the Republic of Kenya.