The Hindu Business Line : Deutsche Bank plans award for Mumbai urban project

It is to recognise initiatives that encourage alliances of diverse constituents or creates partnerships between different stakeholders in urban society.

Our Bureau

Mumbai, July 18 Deutsche Bank will present an award for a Mumbai-based project that benefits local residents on November 1.

The award, which comprises a cash component of Rs 40 lakh, is associated with the Urban Age Project, a worldwide investigation on the future of cities, jointly initiated by the bank’s Alfred Herrhausen Society and the London School of Economics and Political Science.

It is to recognise initiatives that encourage alliances of diverse constituents or creates partnerships between different stakeholders in urban society.

Applications can be submitted online at urban-age.net/award or forms can be downloaded and mailed to dbua.award@db.com

“The Urban Age project will help connect Mumbai with leading cities in the world in terms of sharing knowledge and ideas for improvement in city living and tacking attendant issues,” said Mr Gunit Chadha, Managing Director and Chief Executive Officer of the bank.

Following conferences in New York, London, Shanghai, Mexico City, Johannesburg and Berlin, the urban age project is examining urbanisation in India with a special focus on Mumbai in 2007.

More than half the world’s population lives in cities. By 2020, it is estimated that 1.4 billion will live in slums.

The United Nations predicts that Mumbai will overtake Tokyo as the world’s largest city (currently at 35 million) by 2050, according to Prof. Ricky Burdett, LSE, and Director, Urban Age.

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