Bloomberg Philanthropies will assist the union ministry of urban development in conducting the 'Cities Challenge' competition to select cities that will be provided financing under the government's ambitious 100 Smart Cities plan.
The philanthropy initiative that was founded by former mayor of New York Michael Bloomberg will act as knowledge partner for the Smart Cities Mission and will assist the ministry in the design and implementation of the process for selection of cities, designing and delivery of a capacity development programme for applicant urban local bodies for participation in the competition based on selection of cities with focus on innovation and citizen participation in formulating smart city proposals and formulating and execution of effective communication and branding strategy for cities challenge to enable wider public participation.
The union cabinet had approved the mission for building 100 Smart Cities last month and had earmarked spending of Rs 48,000 crore by the centre over the next five years for providing an assistance of Rs 100 crore per year for each selected city.
States and Urban Local Bodies will be required to match the contribution by the centre for the development of each city and mobilize additional resources required from various sources including through the PPP model. Accordingly, centre and states/Urban Local Bodies will spend about rupees one lakh crore on development of smart cities over the next five years.
Source: Economic Times
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