In April 2025, the new phase of Mayors for Economic Growth (M4EG) Initiative was announced with a focus on several innovative directions. Among a series of intertwined urban activities, it will introduce a bold four-year Mission-Oriented Economy Programme, drawing inspiration from the EU’s Horizon Europe initiatives and the M4EG's previous experience gained by implementing the Portfolio Journey. This Programme will support cities in shaping and implementing economic transformation strategies tailored to their local context.  

In 2025, under this Programme, the M4EG announced the Call for Interest: Mission-Oriented Portfolios for Local Transformations among the members of the M4EG network. Local teams from up to 10 selected municipalities will participate in a year-long learning and capacity-building process with UNDP. They will be supported in the design of Mission-Oriented Portfolios and will be awarded EU funding for their activation. 

A total of up to US$120,000 in financial support will be available through a phased approach: 

• The provision of up to $20,000 as a seed grant for each selected town/city to design and develop their mission-oriented portfolio and begin the testing and implementation activities 
• The opportunity to apply for a growth grant of up to $40,000 after the implementation and iteration of the mission-oriented portfolio to further develop the mission-oriented portfolio and further test and scale select activities 
• The opportunity to apply for a scale grant of up to $40,000-60,000 for the pipeline development for scaling 

The call is open to local authorities in Armenia, Moldova, and Ukraine that are already part of the M4EG network and have a strong vision and commitment to local economic resilience. 

Background: 

Since 2017, the European Union (EU) has been implementing the Mayors for Economic Growth (M4EG) initiative, and the United Nations Development Programme (UNDP) has been managing it since 2021. The project supports local governments in the Eastern Partnership (EaP) countries on their path to inclusive economic growth. 

Since 2021, the M4EG has rebuilt and engaged a network of over 430 municipalities across the EaP region. Nearly 50 municipalities have benefitted from innovative financing for urban development, funding the green and blue energy transition in the Republic of Moldova and Ukraine, and providing crucial assistance to refugees and internally displaced people in the wake of Russia’s war of aggression against Ukraine, as well as sustainable tourism in Armenia and green and smart solutions for cities in Azerbaijan and Georgia. 

For more information about the M4EG, please visit https://eum4eg.com or reach out to eu.m4eg@undp.org