This is the latest initiative from the city state that has yet to become a country. It is most appropriate and complementary to have a city giving out a city prize. This prize would eventually be as famous as the Nobel Peace Prize for recognizing talented people across the world for their contribution in city management. It would put the city state in the world map of recognizable names and another first for the city.
This is the kind of initiative and creativity that this city needs, not paying money to change a name and then have a change a mind and change back to the original name. Money must be well spent.
The famous Mayor of New York, Michael Bloomberg, is in the city to receive the honour on behalf of New York City, or is it on behalf of himself. The publicity value to have Bloomberg here, and got printed all over American and other international papers is really worth it.
Below is a quote from the official website of the LKY World City Prize.
‘The Lee Kuan Yew World City Prize is a biennial international award that honours outstanding contributions towards the creation of vibrant, liveable and sustainable urban communities around the world. It recognises individuals and organisations responsible for urban initiatives that display foresight, good governance or innovation in tackling the many urban challenges faced by cities. …
The Lee Kuan Yew World City Prize Laureate will be presented with an award certificate, a gold medallion and a cash prize of S$300,000, sponsored by Keppel Corporation.’
Now which other third world country aspiring to be first world would want to create another prize in a similar vein? It is not easy to copy the act though. First they need to be first world and have the personality to lift the prize in high honour so that recipients will feel honoured to be honoured.