Published On: Tue, Feb 17th, 2015

Bloomberg Foundation Makes a Passage to India and Worldwide

Michael Bloomberg Funds "Smart Cities" Worldwide

smart cities

Michael Bloomberg is investing millions into “smart cities” worldwide in an effort to repair infrastructure and to make cities more safe, livable and efficient, according to the Times of India. The Bloomberg Foundation has already chosen Mumbai as one of its targets for funds to improve road safety, given the number of traffic accidents in the Indian metropolis and the eagerness of local authorities to implement reforms.

Twenty cities worldwide applied for funds to improve road safety, and 9, including Mumbai, were chosen to receive $125 million worth of funds over 5 years. Kelly Larson, director of Bloomberg Foundation’s Road Safety Department told Times of India, “We will provide technical assistance to improve the city’s road management. We will also run a media campaign in the city, spreading awareness about fastening seat belts and safe driving.

Domestically, the former mayor of New York has donated $48 million toward the adoption of clean energy technologies. The target is to reduce emissions 30% from their 2005 levels in the next 15 years.

“With the price of clean power falling, and the potential costs of inaction on climate change steadily rising, the work of modernizing America’s power grid is both more feasible and urgent than ever, ” said former New York Mayor Michael Bloomberg in a statement. “These grants will help states meet new federal clean power requirements in ways that save money and lives.”

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