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Learning from Cities— The 2nd Guangzhou International Award for Urban Innovation
years) and the United States Agency for International Development (USD 1 million), the DMFP plans to mobilize USD 40 million on the financial markets to fund this project with substantial benefits for informal sector vendors and the citizens of Dakar.
Implementation of the Initiative Although there is a global tradition of bond issuance to fund capital-intensive projects, this initiative represents the first usage of bonds for a city in sub-Saharan Africa (outside of South Africa) that is executed without the full guarantee of the central government. The DMFP involved innovations on several fronts, namely,
□ Independence Square in Dakar
□ Facing the Dakar, Goree Island is the earliest colony exploited by the Europeans in the West Africa