Table of contents for Financing shelter and urban development : global report on human settlements, 2005 / United Nations Human Settlements Programme.

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[ch]CONTENTS
Foreword 
Introduction
Acknowledgements
List of Figures
List of Boxes
List of Tables
List of Acronyms and Abbreviations
Key Issues and Messages
Special feature: the Millennium Development Target on Slums
Executive Summary
PART A
THE URBAN SETTINGS IN ECONOMIC CONTEXT
1	Challenges of Sustainable Development in Macro-economic Context
Understanding Urban Shelter Development Challenges
Demographic framework
Translating demographic growth into the demand for housing and infrastructure
Socio-behavioural framework
An economic framework
Environmental framework
Financial framework
International development aid
Foreign direct investment
National public investment in shelter
Valuing urban assets
Governance framework
Mobilizing finance: removing constraints and reducing risks
Addressing shelter and infrastructure standards
Constraints to mobilizing resources
Risks to providers of finance for low-income households
The Macro-Economic Context of Urban Shelter Development
Patterns of economic growth
Sectoral performance and productivity
Income distribution and inequality
Poverty and employment
Savings
External debt
Patterns of investment
	Foreign investment
Public investment 
Private investment
	The impact of external factors on macro-economic performance
The urbanization of national economies
Concluding Remarks	
	Notes
2 Shelter Policy and Finance: Retrospective Overview 
Context to international thoughts on financing for urban development
Trends in shelter and municipal finance development: 1972 to 2004
Habitat I and the following period, 1972-82
The project approach
Self help
Who took part in and benefited from the projects?
Towards financial sustainability: the 1980s
Structural Adjustment: towards macroeconomic orthodoxy
The birth of the enabling strategy: the mid 1980s
Sustainability and the Brown Agenda
Whole sector development: 1987 onwards
The Global Strategy for Shelter
Focus on building institutional capacity to develop housing and urban services
Finance capital in development
Globalization of finance
The new millennium: policies and organizations in shelter and urban development
The Habitat Agenda
Reaching the lowest income groups: community-based finance
The Right to Housing
Conclusions
	Notes
3	Financing Urban Development
Municipal finance and urban development: the main issues
National municipal finance systems
Sources of municipal finance
Transfers
Taxes on property and businesses
User fees
Betterment taxes and development exactions
Borrowing
Short term borrowing
Credit enhancement, access to financial institutions and capital markets
Income-generating enterprises
Municipal development funds
Other sources
Municipal spending patterns
Local government budgeting
Participatory budgeting
Multi-year capital budgeting
Lack of funds for maintenance of existing assets
Managing municipal expenditures
Accountability and transparency
Privatization of municipal services
Key features
Challenges of privatizing urban services
Joint funding of infrastructure and urban services
Joint Funding of community-based initiatives for the delivery of basic services
New trends in partnerships for local development
Summing up: Assessing the effectiveness and impacts of municipal finance systems
Municipal finance and sustainable urban development
Municipal finance and the delivery of land and services
Impact of decentralization on municipal finance and service delivery
Impact of privatization on municipal finance and service delivery
Notes
PART B
SHELTER FINANCE: ASSESSMENT OF TRENDS
4	Mortgage Finance: Institutions and Mechanisms
Highlights
Cost of houses and need for mortgage finance
Mortgage finance and poverty
Recent trends
General trends related to providers
Sources of finance
Strengthening secondary markets
State support for housing finance
Direct construction and loans
Taxation related incentives
Interest rate subsidies
Securing stability - insurance and guarantees
Regional analysis
The North
Transition countries
The South
Asia
Latin America
Sub-Saharan Africa
Terms and conditions
Loan periods and LTVs - accessing loans
Savings
Interest rates
Housing finance, affordability and lower-income households
The price of housing
The cost of housing - and the responsive to supply to increased demand
The implications for home-ownership for the young
More general problems of affordability
The continuing problem of informality
Assessing systemic risks
	Notes
5	Financing for Social Housing
Conditions and trends
State rental housing in the North
State rental housing in transition countries
Rental housing in the South
Social housing and home ownership
Challenges
Location due to market choice
	Notes
6	Small Loans: Shelter Micro-finance
Small loan challenges
Incremental development
Access to financial services
Micro-finance: what is it?
The growth of micro-finance for shelter
Links to formal financial agencies
The MFI experience - enterprise to housing loans
Reasons for expansion of MFIs into housing
Neighbourhood improvement (slum upgrading)
Land development
Other providers and sources of finance
Sources of capital finance
Shelter micro-finance and subsidies
Terms and conditions
Savings
Collateral and security
Interest rates
Loan periods
Technical assistance
Orientation to women
Income generation
Foreseen challenges
Affordability
Securing capital
Notes
7	Community Funds
What are Community Funds?
Trends
Funding Sources
Terms and Conditions
Strengthening collective capacity - savings
Interest rates
Collateral and security
Loan periods
Technical assistance
Income generation
Challenges
Long-term strategies for continued viability
The challenge of inclusion
Notes
PART C
TOWARDS SUSTAINABLE SHELTER FINANCE SYSTEMS
8	Assessing Shelter Finance Systems
Affordability and the difficulties of reaching the poor
The role of finance - relationship building
The role of mortgage finance: access to capital and the lack of loan finance
The bigger picture and what the market cannot manage
Financial risks
The need for local organization
The issue of urban development
Connections and diversity within globalization
No global financial flows in housing
Summing up	
	Notes
9	Policy Directions towards Sustainable Urban Shelter Finance Systems 
Towards inclusive urban infrastructure and services
Financing for municipalities and service providers
Public sector inadequacy to the task
Balancing local, provincial, and national financing
Importance of a Municipal Capital Financing Fund
Debt swaps
Betterment levies
Improving tax collection
Strengthening property tax systems
Managing borrowing and debts
Adjusting charges for local services
Improving maintenance to reduce expenditure
Private finance
Improving the efficiency of resource use
Multi-year programmes and budgets
Participatory budgeting
Government as creditor of local authorities and service providers
Eliminating corruption
Reducing the cost of urban services
Enhancing households' willingness and ability to pay
Income and employment
Reducing transaction costs
Strengthening sustainability and performance of shelter finance systems
Reducing housing costs
Enabling household decision-making through more effective policy
Addressing the need for rental accommodation
Contractor financing
Development of 'developers'
Reducing financing constraints and risks
Financing informal development
Savings and debt
Improving the accessibility of mortgage finance
Terms of housing loans
The price of housing
Recognizing the need for incremental loans
Lending based on the idea of housing as a productive good
Enhancing pro-poor formal housing finance systems
Subsidies
Social housing
Small loans and housing microfinance
The issue of default among low-income borrowers
Guarantees
Widening the scope of housing micro-finance
Credit for building materials
Remittances
The role of charity in low-income housing
Strengthening community-based funding mechanisms
	Notes
Epilogue: Towards Sustainable Urban Shelter
First element: abating housing costs
Capital
Land
Infrastructure and land-use planning
Building materials
Standards
Design
Location
Models of production and delivery
Second element: increasing purchasing power
Synergizing the two: lower housing prices and higher incomes
Capital
Infrastructure and land-use planning
Building materials and standards
Design
Models of production
Formulating and implementing urban shelter policies: sheltering the poor from "market poaching"
"High-end poaching" in attractive urban locations
"Residential poaching" in the urban periphery
Mortgage finance "poaching"
Political commitment and policy reform as the key to sustainable shelter
Local engagement in the pursuit of the MDGs: the "Millennium Towns and Cities Campaign"
Concluding remarks
Notes
 
PART D
CASE OBSERVATIONS
PART E
STATISTICAL ANNEX
Technical Notes
Data Tables

Library of Congress Subject Headings for this publication:

Urbanization -- Economic aspects.
Housing -- Finance.
Urban policy.
Housing policy.
Human settlements.
Sustainable development.