The third phase of the Mayors for Economic Growth (M4EG) initiative supports the inclusive, green and innovative economic development of secondary cities in the Eastern Partnership region. Building on the experience of previous phases, it helps local authorities respond to complex economic and social challenges through stronger planning, new approaches to local development and improved access to finance.
Municipalities benefit from learning, knowledge exchange and tailored support to strengthen their capabilities. Selected cities receive more intensive assistance to define local economic missions, develop portfolios of interconnected interventions and put these ideas into practice with grant support. The initiative also helps municipalities develop project pipelines, improve financial management and build stronger connections with investors, financial institutions and the private sector.

The overall objective of this Action is inclusive, green and innovative economic revival of secondary cities in EaP through systemic local economic planning, enhanced access to finance, amplified future-ready capabilities and strengthened local, regional and global networks.
The specific objectives are:
• Improved and adaptive systemic local-level economic development planning and implementation through improved tools and capabilities for mission-oriented development and;
• Enhanced access to financing for local authorities through support for pipeline development and financing absorption and management.

• Stronger local economic development planning and implementation capacity among secondary cities, enabling municipalities to design more adaptive, systemic and mission-oriented approaches to local economic transformation.
• A stronger and more connected M4EG network, with active national and regional platforms supporting peer exchange, knowledge sharing, collaboration and access to regional and international partners.
• Enhanced capabilities of local authorities in strategic planning, project design and management, partnerships, communication, digital skills, green transition, resilience and other emerging local economic development priorities through the Urban Learning Center.
• Stronger municipal leadership for economic transformation, including improved strategic thinking, institutional change management, partnership building, governance and executive communication, with dedicated support for women leaders.
• Up to 20 secondary cities supported to develop and implement mission-oriented economic portfolios, combining interconnected, cross-sectoral interventions addressing locally identified economic, social and environmental challenges.
• More participatory and inclusive local economic development processes, with community listening, local ownership, gender equality and meaningful participation of women and minorities embedded in project design and implementation.
• Stronger strategic partnerships around local economic development, connecting municipalities with businesses, civil society, academia, EU institutions, international financial institutions and global city networks.
• Improved investment readiness and access to finance for municipalities, including stronger project pipelines, better capacity to attract and manage public, private and international financing, and grant support to test and scale promising interventions.
• Greater replication and scaling of effective local economic development practices through practical knowledge products, case studies, peer learning and codification of approaches developed through M4EG.