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India teams with Bloomberg Philanthropies on ‘smart cities’

The philanthropy of former New York City Mayor Michael Bloomberg (left) is partnering with the administration of India Prime Minister Narendra Modi on a competition among Indian cities to receive 'smart cities' funding. (Prime minister's office photo)

The Indian government has formally approved a partnership with Bloomberg Philanthropies for its 100 “smart cities” initiative. India’s Economic Times reports that the Urban Development Ministry and a cabinet chaired by Prime Minister Narendra Modi cleared the pact.

The “memorandum of understanding” builds on a June 2015 announcement that the philanthropy headed by former New York City Mayor Michael Bloomberg would design and manage a “Cities Challenge.” Under the competition — a first for India — cities would vie to receive strategic and technical guidance on infrastructure projects, along with government funding.

Bloomberg Philanthropies notes here that Modi’s administration is devoting US$7.5 billion to upgrading the nation’s cities. The philanthropy already runs the Mayors Challenge, a contest in which cities compete for funding to support initiatives that improve urban life. The Indian competition would be held three times over three years. More details are available here

Source: 
Economic Times

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