ADB to fund climate-resilient housing projects

The Asian Development Bank will assist seven countries of Central and West Asia, including Pakistan, to enhance the role of the private sector in the delivery of inclusive, accessible, adequate, affordable and climate-resilient housing ecosystems that also champion the needs of disadvantaged population groups. Approving the regional technical assistance of $500,000, the ADB says its team will explore private sector-based solutions and interventions besides identifying potential pilot projects for implementation. The ADB says a high-level housing diagnostic study has been developed besides formulating a strategy for gender and climate-responsive and climate-resilient housing, with development of a plan to engage private sector. It says leveraging the private sector strengths can help bridge the gap in housing provision, particularly in inclusive, sustainable and climate-responsive construction practices. It is essential to create an enabling environment that encourages private sector participation, including policy reforms, market incentives, and public-private partnerships.