118 Effect and Challenge
Learning from Cities— The 2nd Guangzhou International Award for Urban Innovation
change the power of municipalities in an increasingly-decentralized world.
1. Effect of the Initiative
As a result of the DMFP, the City of
2. Challenge of the Innitiative
Dakar now has access to a new financing
A challenge that the management
mechanism that can be instrumental
team faced was in selecting an appropriate
in helping the city to achieve its social
investment project that met the twin goals
and financial goals for capital-intensive
of social development (which means the
investments. Additionally, in terms of
needs of the urban poor) and economic
this issuance, the DMFP plans to track
profitability (the expectations of
the impact of the construction of the
investors). After months of consideration
marketplace on a cross-section of vendors
and focus group sessions bringing
through a variety of social indicators.
together members of civil society and
Ultimately, although the direct benefit is to
elected politicians, the team proposed
the City of Dakar and its population, this
the long-considered marketplace as an
program can be easily replicated across
appropriate project for the municipality’s
sub-Saharan Africa and dramatically
deliberation and approval.
â–Ą Senegal President Official Mansion