New Delhi, 30 Dec (IANS): The union cabinet on Wednesday approved the signing of a Memorandum of Understanding (MoU) between the ministry of urban development and Bloomberg Philanthropies to support the development of Smart Cities.

The union cabinet meeting was chaired by Prime Minister Narendra Modi.

"The proposal entails Bloomberg Philanthropies to work as knowledge partner and support the development and execution of cities challenge under the Smart Cities Mission," an official statement said.

The cabinet has already approved the Smart Cities Mission, launched by the prime minister.

The proposal under the Smart Cities Mission seeks to facilitate creation of quality urban infrastructure that will lead to improvement in the quality of urban life.

"Bloomberg Philanthropies Government Innovation Initiatives equip mayors and local leaders with practical tools and approaches to solve major challenges and enable public sector innovation to flourish," the statement added. 

As knowledge partner, Bloomberg Philanthropies will also support the ministry in helping design and manage the cities challenge.

There is no financial implication for the government, as the cost implications to the activities done in supporting the mission would be incurred by Bloomberg Philanthropies, it said.