Cities worldwide can now compete for up to $1 million to improve their facilities for cyclists and encourage active travel.
The Bloomberg Initiative for Cycling Infrastructure (BICI) is a competitive grant programme which aims to "foster catalytic change in city cycling infrastructure around the world".
Application submissions will be accepted on a rolling basis from 10 November this year to 3 February 2023.
The winning cities will be announced in spring of next year, after which formal technical assistance and other support, including networking opportunities with global peers, will begin in the summer of 2023, lasting up to three years.
Bloomberg argues that cycling infrastructure remains disconnected, incomplete, and in need of innovation.
Led in partnership with the Global Designing Cities Initiative (GDCI), BICI will fund 'ambitious' projects by providing grants of between $400,000 and $1 million.
Technical assistance from GDCI will be available to refine plans.
City leaders will be trained in data collection, resident engagement and other industry best practices, Bloomberg says.