Urban Economy and Finance Branch (UEFB) UN-HABITAT
Urban Economy and Municipal Finance is an interdisciplinary subject matter and the vital component of the development engine. Though the public finances, local governments realize one of the most important functions: allocation of resources for financing basic services and public infrastructure. Nowadays, there is a global consensus that basic social services and infrastructure are the building blocks for human development and now accepted as fundamental human rights. The latter requires local governments to use most efficiently public resources.
UN-Habitat, through the UEFB and the Municipal Finance Unit, has worldwide experience and provides support through normative and operative work on improving local capacities and public finances for fostering development and equitably shared economic growth. Urban Economy is genuinely and practically engaged in urban lives and urban management issues and is the output of the actions taken by urban management.
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Thus, it is a highly contextual matter and many development matters are irrelevant to context but Urban Economy is closely interwoven with organism of the urban context. It can be deducted that any changes in the urban economy could bring changes in urban management approaches and vice versa. It is highly related to the quality of life and influenced by the quality of public services and infrastructure, and therefore, strongly influenced by the quality of the local finances.