Bloomberg Philanthropies to help India in Smart City project
The Dollar Business Bureau Bloomberg Philanthropies has become the official knowledge partner of the Indian government’s smart city project and the organisation will soon start preparing list of possible cities. The ministry of urban development has accepted the offer of Bloomberg Philanthropies (BP) for cooperation in conducting the ‘Cities Challenge’ competition for selecting the cities for financing. Bloomberg Philanthropies will act as the knowledge partner for the smart cities mission, a government state said. BP will assist the ministry in design and implementation of the selection process. It will also help the government in designing and delivery of a capacity development programme for urban local bodies of aspiring cities. The organisation will also help the government in formulating ...
Municipal Bonds crucial for uplifting Indias urban infrastructure
The Dollar Business Bureau “Municipal Bonds are of crucial importance for uplifting India’s urban infrastructure. They may act as an alternative to the central and state government grants to urban local bodies (ULBs), whose quantum is likely to be reduced in the near future,” said a report. Adopting an innovative mode of financing in the form of ‘Government Citizen Partnership (GOCIP) Bonds’ where citizens invest in the bonds floated by ULBs to improve urban infrastructure and urban civic services is one such option, said an India Ratings report (Ind-Ra). This will make the development process participatory as it will enable citizens to be a part of the city improvement process. Citizens as investors of ‘GOCIP Bonds’ can keep a ...
