The United Nations Office for Project Services (UNOPS) Landmark Affordable Housing agreement with the government of Kenya is a significant milestone towards achieving Sustainable Development Goals (SDGs). The project, which will deliver 100,000 affordable, sustainable homes nationwide is part of the government’s strategy to improve living conditions for Kenyans.
Over the last couple of years, UNOPS has been working to improve sustainable development in African developing countries, including Kenya. The entity helps the UN and its partners provide peace and security, humanitarian and developing solutions. In its continuous struggle to achieve SDGs, UNOPS says that it has made affordable housing a core focus of its Social Impact Investing Initiative (S3i).
UNOPS S3i manages risks often associated with investing in sustainable infrastructure projects, thus encouraging private sector investors to engage in long-term development initiatives. Basically, it is committed to helping find innovative financing solutions for SDGs.
Although investments are a major challenge for achieving sustainable development priorities, UNOPS through its social impact initiative will seek to mobilize resources from its funding partners to support this initiative. This means that new partnerships will be created between the private and public sectors to attain a positive environmental, social and economic impact, with above-market-rates financial returns.
President Kenyatta has expressed strong support for UNOPS’ engagement in the initiative and has welcomed future agreements that will help to address Kenya’s housing needs.
The government of Kenya aims to provide around half a million affordable homes for its citizens by 2022. The project will provide significant employment opportunities for local communities in Kenya.