Prime Minister Narendra Modi and former Mayor of New York Michael Bloomberg has announced a partnership between Bloomberg Philanthropies and the Urban Development Ministry for the development of the ambitious smart cities.
Under the partnership, Bloomberg Philanthropies will provide funds and other assistance to the Ministry to implement the Smart Cities project in select cities.
“Bloomberg Philanthropies will provide assistance to the Ministry of Urban Development to select cities for Smart Cities Mission funding on a continuous basis,” the release said. “This approach is different from the conventional approach, which involved preparation of Detailed Project Reports, and their appraisal and approval by the central government.
The Smart Cities Initiative is aimed to promote economic growth, improve governance, and deliver more effective and efficient public services to India’s urban residents.