ABSTRACT
The Vancouver Declaration mentions financing only once, in the context of “adequate national and international financing” to develop innovative approaches in formulating and implementing settlement programmes. This chapter explores approaches and instruments that may be helpful in working toward the goals of the New Urban Agenda (NUA), as well as some of the complexities involved, in the realm of finance. Financing implies prioritization and redistribution. At the local and national level, different cities and countries will prioritize the multiple goals of the NUA differently. National and subnational legislation determines the responsibilities, powers, and functions of local governments and of other actors in urban spaces. A local government needs revenue for both operating expenditures such as salaries, supplies, maintenance, and for capital investment to create, replace, and upgrade its infrastructure. General obligation debt is payable from any revenues available to the local government, including general tax revenues.
