Bloomberg Philanthropies launches $50 million fund to help cities tackle global issues
Bloomberg Philanthropies unveiled a $50 million initiative Wednesday to help cities address global issues, including climate change, by launching programs proven effective in other cities around the world.
The Bloomberg Cities Idea Exchange will give city governments grants for startup costs and technical support, as well as sponsor trips and webinars to inform leaders about new programs.
“Cities are a force for change on all of the big challenges we’re facing, and we’ve long worked to spread the best ideas globally,” Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, said in a statement. “This new Bloomberg Cities Idea Exchange will intensify and expand those efforts, bringing new muscle and rigor to the replication process.”